AYO TECHNOLOGY SOLUTIONS LIMITED - Short-Form Announcement: Reviewed Condensed Consolidated Financial Statements for the Year Ended 31 August 2023

Short-Form Announcement: Reviewed Condensed Consolidated Financial Statements for the Year Ended 31 August 2023

 AYO TECHNOLOGY SOLUTIONS LIMITED
 (Incorporated in the Republic of South Africa)
 Registration number: 1996/014461/06
 JSE share code: AYO
 ISIN: ZAE000252441
 ("AYO Technology" or "the Company")

SHORT-FORM ANNOUNCEMENT: REVIEWED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE
YEAR ENDED 31 AUGUST 2023

1.   Highlights

     • Revenue increased by 28% to R2.3 billion from R1.8 billion in the prior financial year.
     • Loss before tax increased by 180% from R233 million in the prior financial year to R653 million in the
         current financial year.
     • Loss per share increased by 130% from 78.60 cents per share in the prior financial year to 180.53 cents
         per share in the current financial year.
     • Headline loss per share per share increased by 193% from 60,25 cents per share in the prior financial
         year to 176.46 cents per share in the current financial year.
     • Gross dividend per share decreased by 100% from 60 cents in the prior year to 0 cents in the current
         financial year.

2.   Short form announcement

     The Company wishes to inform shareholders that the full announcement in respect of the reviewed
     condensed consolidated financial statements for the year ended 31 August 2023 ("2023 results") are
     available at https://ayotsl.com/wp-content/uploads/2023/12/AYO-FINAL-SENS-2023-signed.pdf and can also
     be viewed at https://senspdf.jse.co.za/documents/2023/jse/isse/ayoe/SENSLF2023.pdf

     Copies of the 2023 results may also be requested from the Company Secretary at
     wazeer.moosa@ayotsl.com and from either of the joint sponsors, being Vunani Sponsors or Merchantec
     Capital, at sponsor@vunanicapital.co.za or sponsorteam@merchantec.com, respectively.

     The 2023 results have been reviewed by Crowe JHB. and Thawt Inc. who have expressed an unmodified
     review conclusion thereon which opinion includes an emphasis of matter in respect of a material
     uncertainty related to a going concern. The condensed consolidated financial statements indicate events
     and conditions, along with other matters which indicates that a material uncertainty exists that may cast
     significant doubt on the Company's ability to continue as a going concern.

     The full independent auditors' report is available on the Company's website at https://ayotsl.com/investor-
     centre/ and can also be requested from the Company Secretary at wazeer.moosa@ayotsl.com

     This short-form announcement is the responsibility of the board of directors of AYO ("Board"). This
     announcement is a summary of the information in the full announcement and does not contain full or
     complete details. Any investment decision by investors and/or shareholders should be based on
     consideration of the full announcement which has been released on SENS and is available on the Company's
     website.


     Cape Town
     6 December 2023

     Joint Sponsor
     Vunani Sponsors

                                                                                                       
     Joint Sponsor
     Merchantec Capital




                     

Date: 06-12-2023 12:55:00
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