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INTEGRATED ANNUAL REPOR T - HCI

I N T E G R A T E D A N N U A L R E P O R T. HCI Properties KAROSHOEK. YEARS OF: ENDURANCE, PATIENCE. and SYSTEMATIC. GROWTH. CONTENTS. 2 Scope of INTEGRATED report and assurance 71 Directors' report 4 Letter to shareholders 73 Approval of ANNUAL financial statements 8 20 year timeline 73 Declaration by company secretary 10 20 year review 74 Summarised audited financial statements 13 Distribution of Value - 2017 Consolidated statement of financial position 14 Operating structure Consolidated income statement 16 Geographical footprint Reconciliation of headline earnings 18 Operational overview Consolidated statement of other comprehensive income 36 Shareholders' snapshot Consolidated statement of changes in equity 38 Board of directors Consolidated statement of cash flows 40 Corporate governance Segmental analysis 41 King IV - application register Notes to the

cover all issues relating to subsidiaries and associates. The scope limitation does not impact on the completeness of the report as separate integrated annual reports for

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  Annual, Integrated, Integrated annual, Repor, Integrated annual repor t

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