ESKOM HOLDINGS SOC LIMITED - Notice of availability of annual financial statements

Notice of availability of annual financial statements

Eskom Holdings SOC Limited
(Registration No. 2002/015527/06)
JSE alpha code: BIESKM
(“Eskom” or “the group”)

NOTICE OF AVAILABILITY OF ANNUAL FINANCIAL STATEMENTS

Eskom hereby notifies its debt investors that it has publicly released its audited annual financial
statements for the year ended 31 March 2020.

The auditors concluded that Eskom’s consolidated and separate financial statements present fairly, the
financial position of the group as at 31 March 2020, except for the qualification relating to irregular
expenses relating to modifications to contracts which were not conducted as required in terms of the
Public Finance Management Act (“PFMA”) as well irregular expenditure which was not recorded at the
correct amount.

In addition, the audit opinion was modified as follows:

    •   an emphasis of matter relating to material losses as a result of meter tampering and bypasses,
        illegal connections to the electricity network and illegal vending of electricity;
    •   a material uncertainty relating to the going concern status of Eskom; and
    •   a reportable irregularity that has taken or is taking place relating to (i) awards to persons in service
        of the state and their close family members (undeclared interest); (ii) minutes of meeting of board
        and sub-committees not maintained as per Companies Act requirements; and (iii) non-compliance
        with PFMA. The reportable irregularity has been reported to the Independent Regulatory Board of
        Auditors by Eskom’s auditors.

Restatements

The comparative financial information for the prior period to 31 March 2019 (“comparatives”) were
restated as follows:

    •   post-retirement medical aid;
    •   impairment of VAT portion on trade receivables; and
    •   capitalisation of cost incurred in the construction of plant.

These restatements of comparatives were necessary to align to IFRS.

The AFS, together with the audit report, are available on the Eskom website at
http://www.eskom.co.za/OurCompany/Investors/IntegratedReports/Pages/Annual_Statements.aspx and
for inspection at Eskom’s registered office at 1 Maxwell Drive, Megawatt Park, Sunninghill, Johannesburg,
2000.

Johannesburg
30 October 2020

Debt Sponsor
Nedbank Corporate and Investment Banking

Date: 30-10-2020 02:23:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.