CONDUIT CAPITAL LIMITED - Trading Statement

Trading Statement

CONDUIT CAPITAL LIMITED
Incorporated in the Republic of South Africa
(Registration number 1998/017351/06)
Share code: CND         ISIN: ZAE000073128
(“Conduit” or “the group”)

TRADING STATEMENT

In terms of the Listings Requirements of JSE Limited, companies are required to publish a trading
statement as soon as they become reasonably certain that the financial results for the period to
be reported on will differ by more than twenty percent from that of the previous corresponding
period. Accordingly, a review by management of the financial results for the six months ended
28 February 2015 has indicated that attributable earnings, headline earnings, earnings per share
(“EPS”), headline earnings per share (“HEPS”), net asset value per share (“NAV”) and tangible
net asset value per share (“TNAV”) are expected to be as follows:

                                          Unaudited       Unaudited
                                         six months      six months                  Percentage
                                              ended           ended                     increase
                                        28 Feb 2015     28 Feb 2014      Change      (decrease)

 Attributable earnings (R’000)                 25 443        97 769     (72 326)         (74.0)
 Headline earnings (R’000)                     25 449        21 625        3 824           17.7
 EPS (cents)                                      9.9          38.1       (28.2)         (74.0)
 HEPS (cents)                                     9.9           8.4          1.5           17.9
 NAV (cents)                                    172.8         160.6         12.5            7.6
 TNAV (cents)                                   125.5         113.3         12.2           10.8

 Number of shares in issue, net of
 treasury shares ('000)                     256 377         256 377
 Weighted average number of
 shares ('000)                              256 377         256 377

As previously reported, with effect from 1 September 2013 Conduit’s interest in credit recovery
and debt management specialist, Anthony Richards and Associates Proprietary Limited (“ARA”),
was accounted for as an associate. The change in accounting treatment required that the group
carry out a once-off fair value adjustment of Conduit’s 40% interest in ARA and bring to book
R75.55 million (29.5 cents per share) in earnings and net asset value during the six months
ended 28 February 2014. This fair value adjustment had no impact on headline earnings at the
time. There was no requirement to perform a similar fair value adjustment in 2015.

The financial information on which this trading statement is based has not been reviewed or
reported on by the group’s auditors. Conduit’s unaudited results for the six months ended
28 February 2015 are expected to be released on or about 22 May 2015.

Johannesburg
18 May 2015

Sponsor
Merchantec Capital

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