In terms of section 3.4 (b) of the JSE Limited Listings Requirements,
companies are required to publish a trading statement as soon as they are
reasonably certain that the financial results for the current reporting
period will be more than 20% different than that of the previous
corresponding period.

Shareholders are hereby advised that a reasonable degree of certainty exists
that for the year ended 31 March 2022, the Company will report an improvement
in basic earnings per share of more than 20% (949.7 cents loss), compared to
a basic loss of 1 187.1 cents per share, and an increase in headline earnings
per share of more than 20% (345.2 cents), compared to headline earnings of
287.7 per share, for the year ended 31 March 2021.

Earnings of the Company has been positively impacted by the general recovery
of operations throughout its investment portfolio.

The Company will provide more accurate parameters in respect of its expected
basic and headline earnings per share and the expected date of release of its
preliminary results for the year ended 31 March 2022 in due course.

The above information has not been reviewed or reported on by the Company`s

Cape Town
25 May 2022

Investec Bank Limited