Bonyan’s Board Approves Buyback Program of up to 4% of Issued Capital as Shares Trade at c. 50% Discount to Asset Value

7 October 2026 | Cairo, Egypt

Bonyan for Development and Trade (“BONY.CA”), Egypt’s leading independent real estate investment platform, announces that its Board of Directors has approved a treasury share buyback program for up to 4% of the Company’s issued capital.

Bonyan remains focused on allocating capital where it can generate the most attractive returns for shareholders. At the closing share price of EGP 4.08 on 5 October 2026, Bonyan is trading at an enterprise value¹ per sqm of EGP 88.5k, representing a c. 50% discount to the portfolio’s asset value, based on valuations by the FRA-approved independent asset valuer.

The buyback reflects confidence in Bonyan’s stock. At the current market capitalization, the Board views Bonyan as a highly attractive investment opportunity, given the quality of its assets, its strong portfolio and USD-denominated contracts.

Purchases will be executed through the open market on the EGX within a one-month execution window from 7 October 2026 to 5 November 2026, with the timing and pace of execution determined in line with market conditions and applicable FRA and EGX regulations.

CEO’s Comment

“At the current share price, Bonyan is trading at an implied enterprise value per sqm of c. EGP 88.5k, at half the current portfolio value. The recent sell off in Bonyan stock driven by the general investor aversion to the real estate development model presents a unique opportunity for the company to buy back its shares at very attractive valuations. Going forward, given the absence of the risks specific to the real estate development model, we believe Bonyan will emerge as one of the few companies providing exposure to the real asset class with maximum flexibility on size and liquidity given its unique landlord business model focused on asset appreciation and recurring rental revenues.”

Tarek Abdelrahman