SUN INTERNATIONAL LIMITED - Business update and capital markets day

Business update and capital markets day

SUN INTERNATIONAL LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1967/007528/06)
Share code: SUI
ISIN: ZAE000097580
LEI: 378900835F180983C60
("Sun International" or "the Company")



BUSINESS UPDATE AND CAPITAL MARKETS DAY


Business Update

Trading conditions across the Sun International group’s businesses (“group”) have continued
to improve since the release of the group’s 2021 financial year-end results. The financial
performance of the group for the first five months to 31 May 2022 (“current period”) compared
to the first five months to 31 May 2021 (”prior period”) reflects strong revenue growth of 34%,
with adjusted EBITDA up over 80%.

Total South African income for the current period was approximately 92% of the income
achieved for the comparable period in 2019, demonstrating that the group has returned to a
more normalised trading environment. Despite the lower revenues, adjusted EBITDA and the
adjusted EBITDA margin were up on 2019, largely driven by ongoing efforts undertaken by
management in 2020 and 2021 to eliminate excess costs and improve efficiencies across the
group.

Income for the current period compared to the prior period is set out in the table below: -

                           Current Period            Percentage             Prior period
 R ’million                                           increase
 Casino                         2 607                   30.6%                   1 996
 Resorts and hotels              977                    62.3%                    602
 Sun Slots                       597                    15.9%                    515
 Sun Bet                         105                    40.0%                     75
 Total                          4 286                   34.4%                   3 188

Cash generation during the current period remained robust and as a result South African debt,
(excluding lease liabilities), decreased from R6.4 billion at 31 December 2021 to R5.8 billion
at 31 May 2022. Debt to adjusted EBITDA and interest cover was well within Sun
International’s lenders’ covenants and have returned to acceptable levels. Our balance sheet
remains in a strong position and we continue to focus on increasing free cashflows and
disciplined capital allocation to maximise shareholder value.

This voluntary business update has not been reviewed or reported on by Sun International’s
external auditor.

Capital Markets Day

Shareholders are advised that the Company will be hosting a Capital Markets Day today when
invited investors, analysts and other stakeholders will attend a presentation regarding Sun
International’s business and future strategy. The presentation pertaining to this Capital
Markets Day is available on the Company’s website at
https://corporate.suninternational.com/investors

By order of the Board.

Johannesburg
28 June 2022

Sponsor to Sun International
INVESTEC BANK LIMITED

Date: 28-06-2022 08:00:00
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