In terms of section 6.26 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 2026, the Company will report basic earnings (profit) per share of between 1 662.8 cents and 3 325.5 cents, being a decrease of between 80% and 60% compared to basic earnings (profit) per share of 8 313.8 cents for the prior year, and headline earnings (profit) per share of between 2 174.3 cents and 2 324.3 cents, being an increase of between 45% and 55% compared to headline earnings (profit) per share of 1 499.5 cents for the prior year.

Basic earnings per share in the prior year included an upward R4 547 million fair value adjustment on associate on gaining control, which was recognised significantly upon the acquisition of Impact Oil and Gas ("IOG") in July 2024.

Headline earnings per share in the prior year was negatively impacted by losses in respect of IOG and Africa Energy Corp. ("AEC"), which included an effective R262 million in losses in respect of AEC.

The above information has not been reviewed or reported on by the Company`s auditors. The Company`s results are expected to be published on or about 26 May 2026.

Cape Town
25 May 2026

Sponsor:
Investec Bank Limited