2020 INTEGRATED REPORT

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) for the year ended 31 December 2020 3. INVESTMENT PROPERTY Group 2020 2019 R’m R’m Opening net book amount 501 409 Additions 4 72 Revaluation deficit (45) (3) Transfer from owner-occupied property – 23 Net carrying value at end of year 460 501 Investment properties were valued using the discounted cash flow of future income streammethod. Investment property is carried at fair value and is classified as level 3 in terms of the IFRS 13 hierarchy. The transfer from owner-occupied property of R22.7 million in 2019 was as a result of a subsidiary terminating its lease of a property owned by the Group. 4. INTANGIBLE ASSETS Computer Customer Software Relationships Total R’m R’m R’m Year ended 31 December 2019 Opening net carrying value 168 – 168 Additions 51 8 59 Amortisation (31) (0.1) (31) Impairment (21) – (21) At 31 December 2019 167 8 175 Cost 274 8 282 Accumulated amortisation (107) (0.1) (107) Net carrying value at beginning of year 167 8 175 Year ended 31 December 2020 Opening net carrying value 167 8 175 Additions 105 – 105 Amortisation (38) (1) (39) Impairment (6) – (6) Closing net carrying value 228 7 235 At 31 December 2020 Cost 366 8 374 Accumulated amortisation and impairment (138) (1) (139) Net carrying value at end of year 228 7 235 Computer Software at a cost of R13 million (2019: R10 million) and accumulated amortisation of R13 million (2019: R10 million) was deemed obsolete and written off during the year. 148 | PPS INTEGRATED REPORT 2020