Dawn Properties Limited

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Head Office 8th Floor Beverley Court 100 Nelson Mandela Avenue Harare, Zimbabwe Tel.: +263 4 733633/4; 733647; Fax: +263 4 796172 Postal address P. O. Box CY 1618 Causeway Harare Zimbabwe

www.dawnproperties.co.zw

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Investor fact sheet

As at 16 March 2010. Next update in June 2010 Salient data
Incorporation Licensed business Representative body Governing Act Listing exchange Listing date ISIN code Stock codes: ZSE code Bloomberg Reuters code Google Year end : : : : : : : : : : : : : : : : : : : : Incorporated in 2003; Registration number 9363/2003 Investment property holding company Real Estate Institute of Zimbabwe Regional Town and Country Planning Act Zimbabwe Stock Exchange 9 September 2003 ZW000-901-188-4 DAWN DAWN:ZH DAWN.ZI ZIM:DAWN 31 March Abridged results normally released in June Annual report normally released in September AGM normally held in September 30 September Interim results normally released in December PricewaterhouseCoopers N M Tome (Mrs) Debentures Ordinary shares Authorised 4,000,000,000 Issued at start of the year 2,403,535,019 Issued during the year 3,555,000 As at 31 March 2009 2,407,090,019 Bal. (in control of 1,592,909,981 Directors) Corpserve (Private) Limited 2nd Floor, Intermarket Centre Kwame Nkrumah Avenue / First Street Harare, Zimbabwe Email: enquiries@corpserve.co.zw Tel : +263 4 751559/61 or +263 4 758193 Fax: +263 4 752629 Barclays Bank of Zimbabwe 4,000,000,000 2,403,535,019 3,555,000 2,407,090,019 1,592,909,981

Half year-end Auditors Group company secretary Share capital

Transfer secretaries

Principal bankers

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Licensed business operations Dawn Properties Limited (Dawn) is an investment property holding company which owns properties in the tourism sector through its wholly-owned subsidiaries Dawn was the first VRLS investment property holding company to be listed on the Zimbabwe Stock Exchange Group structure The Dawn Group comprises the following

Investment thesis

Through a diverse portfolio of hotel properties with a combined room capacity in excess of 1,070 in the major cities and resort areas of Zimbabwe, Dawn Properties Limited owns the largest portfolio of hospitality investment property in Zimbabwe
Our profile Dawn Properties Limited, formerly a wholly owned subsidiary of African Sun Limited, was incorporated as a variable rate loan stock (VRLS) company by converting its ordinary shares into linked units. African Sun now owns 17.72% of the company enabling it to have an independent mission. The core business of the company is that of an investment property holding company and through its wholly owned subsidiaries owns properties in the tourism sector. Dawn Properties provides investors with an opportunity to invest in a collection of sought after hotel properties. The counter is not only a good inflation and currency hedge but also has the potential to generate strong cash flows and high yields. The properties are professionally managed ensuring that the highest standards are maintained at all times. The Group is well represented in all major tourist destinations. Although the fact that the Group has a predominant tourism exposure is of concern to some investors, it is equally important to note that it is a sector that never ceases to attract the attention of international investors even in hard times. This probably gives the properties a premium ahead of other property classes such as industrial property, for example. Nevertheless, the Group has taken a view to further diversify the portfolio at the earliest opportune time. Review of 2009 performance New developments Plans for the construction of 264 two-bed flats in Marlborough were approved by the Harare City Council. The group owns about 16 hectares of land along Harare Drive which is being rezoned for commercial use. Once rezoned a mixed use development will be embarked on. Interim land use The group has about 280 hectares of land in New Marlborough which is zoned for residential and commercial developments. Outlook The political environment has ushered in a wave of excitement in the market. The group will seize opportunities to grow and diversify revenues.
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CB Richard Ellis P/L Dawn Real Estate P/L Nhaka Properties P/L CBRE (Pty) Ltd ta CBRE Regional Laclede Investments P/L Gold Coast Properties P/L Calpine Investments P/L

(100%) (100%) (100%) (100%) (100%) Holds 1 prop. (100%) Holds 8 prop. (100%) Holds 1 prop.

Our hotel properties Hotel property Elephant Hills Resort and Conference Centre Crowne Plaza Monomotapa Hwange Safari Lodge Express by Holiday Inn, Beitbridge Holiday Inn Mutare Carribea Bay Sun Troutbeck Sun Great Zimbabwe Hotel Lake View Sun Carribea Bay Marina . Key financial highlights*

Rooms 276 245 106 104 96 83 70 56 42 n/a

Revenue Attributable earnings Full diluted & basic EPS Total assets Shareholders equity Shares in issue Return on equity Return on sales Number of employees Number of shareholders

: : : : : : : : : :

US$1,044,652 US$769,977 USc0,03 US$75,952,738 US$59,803,041 2,407,090,019 1% 74% 75 8,699

* For year ended 31 March 2009

US$000's 600 400 200 Property investm ent

Segmental contribution analysis

Property investm ent

Property investm ent

Brokerage business

Brokerage business

-200 -400

Revenue

Op. profit/(loss)

CAPEX

Brokerage business

Shareholding structure
Shareholder analysis by industry as at 31 July 09 Local individuals, 7.32% Pension funds, 10.11% Insurance companies, 10.11% Other, incl. Fund Managers, 10.32% Banks, 7.14% Local companies, 41.00%

Management M Manyika Chief Executive Officer Chartered Accountant, BTech. Accountancy N M Tome (Mrs.) Admin. & HR Executive Masters in Business Leadership, BTech. Acc. B Magura Finance Executive Chartered Accountant T Matonda MD: CB Richard Ellis (Zimbabwe) BSc in Industrial Engineering S Hove - MD: CB Richard Ellis (Botswana) MBA, LREIZ Dick Mupambireyi - Agronomist BSc in Agric., MSc in Rural & Urban Planning Directorate F Rwodzi Non-Executive Chairman BCompt, CA M Manyika Chief Executive Officer Chartered Accountant, BTech. Accountancy T P Chimuriwo Non-executive Director Chartered Quantity Surveyor, a Chartered Arbi trator, Practicing Construction Arbitrator E I Manikai Non-Executive Director BL, LLB, CYLC C A Mataure Non-executive Director BSc in Mech. Eng., MI in Mech. Eng. S A Munyeza Non-executive Director BSc. Acc., Post-grad. Dip. in Applied Acc. C B Thorn Non-executive Director CA (Zim) and a CA (SA) D Goldwasser Non-executive Director

Nominees local, 14.00%

Note: Dawn had 8,923 shareholders as at 31 July 2009 98.85% of Dawns shares were held by Zimbabweans The top 20 shareholders in Dawn held 76% of the total shares as at 31 July 2009 Share performance Below is the US$ six-month performance of the Dawn Properties share to 16 March 2010:

Corporate governance Dawn Properties accepts and complies with the principles of the Code of Corporate Practices as enunciated in the King Report. The Directors are fully aware and cognisant of the importance of executing their duties in keeping with the principles of transparency, integrity, fairness and accountability and in accordance with accepted corporate practices in order to enhance the interests of its shareholders. Investor relations Dawn Properties encourages and values feedback from all stakeholders. Visitors to www.dawnproperties.co.zw are encouraged to register through the InvestorPass and opt-in to receive various e-mail alerts from Dawn. For more information contact the investor relations officer, Mr Bright Magura, on +263 4 733633, or through the Contact us option available on our investor relations website, www.dawnproperties.co.zw More on www.dawnproperties.co.zw

The red line depicts the share price performance, while the corresponding industrial index is shown by the continuous shade. The bar graph shows the daily traded volumes. The daily share trading data on Dawn Properties and the corresponding daily industrial index is available for download in Excel from our website, under Downloads.

This factsheet is provided on an as is, as available basis and we do not give or make any warranty or representation of any kind, whether express or implied in respect of information contained here-in. While every effort has been made to ensure that the content is accurate, Dawn Properties Limited, its employees and any third party here-referred, disclaim any warranty. The use of the factsheet or any website referred to in it is at the sole risk of the user.

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