Octodec Investments Limited has entered into a new asset and property management agreement with City Property Administration Proprietary Limited, effective from 1 July 2023, which agreement replaces the existing asset and property management agreement between the parties approved by shareholders on 28 June 2018 and which will terminate on 30 June 2023. In terms of the new APMA, which will terminate on 31 August 2028, CPA will provide the following services to the Company: asset management services, including services relating to general management, administering property acquisitions and sales, financial management, JSE reporting requirements, strategic management, compliance and regulatory management, risk management, internal audit, occupational health and safety compliance, environmental, social and governance services, and information and communication and technology services; and property management services, including services related to leasing and lease administration, facilities management, marketing and promotions, property accounting, parking management, events management, tenant installations, maintenance, utilities, projects, renovations, insurance and employment solutions. CPA will be required to compile a set of Key Performance Indicators ("KPIs") annually.

The KPIs as well as sanctions imposed for failure to meet these KPIs, will be agreed to between CPA and the Company at the beginning of each financial year. The fees for property and asset management services have been determined on a similar basis as in the current agreement, adjusted for increases in CPI since the inception of the current agreement to the date that the new agreement becomes effective, and considering the additional regulatory and other requirements of the Company.