UMGENI WATER - Notice of availability of annual financial statements

Notice of availability of annual financial statements

Umgeni Water
Registration number: 1997/007707/07
JSE Alpha code: BIUMWA
(“Umgeni Water”)

NOTICE OF AVAILABILITY OF ANNUAL FINANCIAL STATEMENTS

Further to the announcements released on SENS on 31 January 2022 and 25 February 2022 regarding
the delay in Umgeni Water’s audited annual financial statements for the year ended 30 June 2021
(“AFS”), Umgeni Water hereby notifies its debt investors that it has publicly released its Annual Report
for the year ended 30 June 2021 (“Annual Report”), incorporating the AFS and the auditor’s report
relating to the AFS prepared by the Auditor-General of South Africa (“Auditor’s Report”) which is
unqualified.

The Auditor’s Report contains an emphasis of matter and a material irregularity for the year ended 30
June 2021 as follows:

1. an emphasis of matter relating to (i) material losses incurred by Umgeni Water as a result of
   payments of goods and services not being received and (ii) material impairments raised by Umgeni
   Water on trade and other receivables due to debtors not being able to settle outstanding
   amounts; and
2. a material irregularity relating to an award to a supplier who was incorrectly evaluated in terms
   of regulation 10(2) of the Preferential Procurement Regulations of 2011, resulting in a material
   financial loss for Umgeni Water.

The Auditor’s Report was not modified as a result of the above matters.

The Annual Report, containing the AFS and the Auditor’s Report, are available on the Umgeni Water
website at https://www.umgeni.co.za/2020-2021-annual-report/ and for inspection at Umgeni
Water’s registered office at 310 Burger Street, Pietermaritzburg, 3201, South Africa.

Furthermore, the annual official stakeholder function wherein the Annual Report will be presented
for public consumption will take place on 7 April 2022.

1 April 2022

Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 01-04-2022 08:00:00
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