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Calgro M3 The Company

Calgro M3 Background An established residential property development company with an 18 year track record (established in 1995), specializes in delivering truly integrated development projects that adhere to Government s BNG principles. Calgro M3 s track record includes: Pennyville (2 800 units) RDP, Rental and Social Housing units in an integrated model, fully completed; Fleurhof (9 602 units) in a RDP, Rental, Social Housing and open amrket units of which the first 1600 units have been constrc=ucted with constructing taking place on 1200 units Jabulani CBD (4 199 units), 50% of the housing phase is complete and the Soweto Theatre has been constructed along with 650 hostel units. National Footprint: Additional to it s Gauteng based projects, also successfully secured: Scottsdene Integrated project in Cape Town consisting of 2,247 units, Belhar CBD Integrated project in Cape Town consisting of 3,600 units and Brandwag Social Housing project in Bloemfontein consisting of 1,050 units; Calgro M3 also recognised as a market leader in the Mid to High Income residential market and was one of the first to implement renewable energy measures within our projects, currently busy with the first construction phase of our La Vie Nouvelle Retirement Estate, in Broadacres, Fourways. Calgro M3 listed on the JSE Alt X in November 2007 and was the first company to list a debt programme on Yield X in 2008. Calgro M3 transferred to the JSE Main Board on 23 February 2012.

Calgro M3 Development Partners City of Johannesburg, Department of Housing Gauteng Provincial Government, Department of Housing City of Cape Town, Department of Housing Western Cape Provincial Government, Department of Housing I H S (International Housing Solutions)

Calgro M3 Funding Partners Nedbank HIS SBSA FNB RMB NHFC

Business Model

Calgro M3 Product Definition

Overview Products and Market Definition

Present Projects

Geographic Footprint National Fleurhof 9,602 units Jabulani CBD 4,199 units Jabulani Hostel 500 units Hospital View 3,392 units Leo Mews Res 90 units Scottsdene 2,247 units South Hills 4,217 units Brandwag 1,051 units Vista Park Ext 3 2,400+ units Belhar CBD 3,600 units

Geographic Footprint Gauteng La Vie Nouvelle Retirement Estate 400 units 32 on Pine 65 units Westwood, Parkview 83 units Oakwood, Ridgewood 96 units Fleurhof 9,602 units Jabulani Hostel 500 units Jabulani CBD 4,199 units South Hills 4,217 units Hospital View 3,392 units

Existing Projects % Exposure In Different Market Segments

Integrated & Low to Medium Income Residential Funding Requirements Project Funder financial institution Funder government Fleurhof First National Bank City of Joburg/SHRA Jabulani CBD Standard Bank SHRA Jabulani Hostels Nedbank Gauteng Province Mabopane NHFC n/a Jukskei View Ext s 17 & 18 Nedbank n/a Belhar CBD Standard Bank Western Cape Province/SHRA South Hills Standard Bank City of Joburg/SHRA Hospital View Nedbank City of Joburg/SHRA Vista Park Ext 3 n/a Mangaung Metropolitan Council Scottsdene Standard Bank City of Cape Town/SHRA Brandwag n/a SHRA Leo Mews Standard Bank n/a Wallacedene Standard Bank SHRA

Calgro M3 Integrated Development Concept

Fleurhof (Johannesburg South) Integrated / Mixed Use Development Finance partner/s:

Fleurhof 9,602 units (Main Reef Road Johannesburg South) RDP/BNG (freehold semidetached) 0 units RDP/BNG multi storey (3 & 4 storey walk ups family units) 2,822 units GAP, social and rental housing (3 & 4 storey walk ups family units) 4,864 units Affordable housing (freehold freestanding family units) 1,916 units

Fleurhof 9,602 units (Main Reef Road Johannesburg South) Existing Fleurhof township Main Reef Rd - ± 9.8 km s from Jhb CBD Soweto (Meadowlands )

Fleurhof 9,602 units (Main Reef Road Johannesburg South West)

Fleurhof 9,602 units (Main Reef Road Johannesburg South West) Crèche under constructio n Openmarket GAP (multistorey) Freestandi ng affordable housing Openmarket rental (multistorey) Infrastructur e completed Infrastructur e in progress Freestanding affordable housing RDP housing (multistorey) Social Housingsubsidized rental (multistorey) Crèche to be constructed POS to be landscaped

Fleurhof 9,602 units (Main Reef Road Johannesburg South West) RDP housing (multistorey) Social Housing GAP semidetached housing Crèche Crèche to be constructed Freestanding affordable housing Open market rental Openmarket GAP (multistorey)

Fleurhof 9,602 units (Main Reef Road Johannesburg South West) RDP housing (multi storey) GAP semidetached housing Social Housing

Fleurhof 9,602 units (Main Reef Road Johannesburg South West) Paved parking Perimeter fencing Waste managemen t Landscaping RDP Fully subsidized ( give away s ) units

Fleurhof Pictorial Overview (Main Reef Road Johannesburg South West)

Jabulani Hostels (Soweto, Johannesburg) Hostel Re Development Project Finance partner/s:

Jabulani Hostels 500 units (phase 1) (Bolani Road Soweto, Johannesburg) RDP/BNG (freehold semidetached) 0 units RDP/BNG multi storey (3 & 4 storey walk ups family units) 400 units CRU subsidized rental housing (3 & 4 storey walk ups family units) 100 units Affordable housing (freehold freestanding family units) 0 units

Jabulani Hostels 500 units (phase 1) (Bolani Road Soweto, Johannesburg) Existing hostel dwellings Phase 1

Jabulani Hostels 500 units (phase 1) (Bolani Road Soweto, Johannesburg) RDP Fully Subsidised units give aways CRU Units (Community Residential Units) Existing hostels to be demolished when developed in phases RDP Fully Subsidised units give aways

Jabulani Hostels 500 units (phase 1) (Bolani Road Soweto, Johannesburg)

General market perceptions It is difficult to work with the Public Sector; Public Sector does not pay, not on time or to reduced amounts; Higher end of the integrated market are subsidizing the lower (fully subsidized) component of the market; Densification not acceptable in this market segment; and Prime land not required for the subsidized market.