METTLE INVESTMENTS LIMITED - Audited Summary Consolidated Financial Statements for the year ended 29 February 2020

Audited Summary Consolidated Financial Statements for the year ended 29 February 2020

METTLE INVESTMENTS LIMITED
(Registration Number: 2008/002061/06)
Incorporated in the Republic of South Africa
JSE share code: MLE ISIN: ZAE000257622
(“Mettle” or “the Company”)

AUDITED SUMMARY CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2020

The board of directors of Mettle (the “Board”) are pleased to present the consolidated audited results of the
Company and its subsidiaries (“the Group”) for the year ended 29 February 2020 (the “Full Year Results”).

The highlights of the Full Year Results, as compared to the comparative year ended 28 February 2019 (“Prior
Year”), are set out below:

   •    Revenue increased by 31% from R227 million to R297.2 million due to Reward Investments (No. 2)
        Limited being consolidated for the full year compared to only nine and a half months in the Prior Year;
   •    Basic earnings per share increased by 33% from 7.14 cents per share in the Prior Year to 9.52 cents
        per share;
   •    Headline earnings per share decreased by 6.5% from 14.69 cents per share in the Prior Year to 13.73
        cents per share; and
   •    Net asset value per share increased by 12% from 198 cents in the Prior Year to 222 cents.

No dividend has been declared or paid during the period.

PricewaterhouseCoopers Inc. has issued an unmodified opinion on the consolidated audited results for the year
ended 29 February 2020. That report also includes communication of key audit matters. The audited annual
financial statements and the auditor’s report may be viewed on the Company’s website
https://mettleinvestments.com/investor-information/financial-results. The auditor’s report does not necessarily
report on all the information contained in this announcement. Shareholders are therefore advised that in order to
obtain a full understanding of the nature of the auditor’s engagement they should obtain a copy of the auditor’s
report together with the accompanying financial information.

Short form announcement

This short form announcement is the responsibility of the Board and is only a summary of the complete
consolidated, audited results for the year ended 29 February 2020 (“Full Announcement”) which may be
downloaded from:

https://senspdf.jse.co.za/documents/2020/JSE/ISSE/MLEE/FebFY20.pdf; or
https://mettleinvestments.com/investor-information/sens-announcements.

Any investment decisions by investors and/or shareholders should be based on consideration of the Full
Announcement at the links set out above.

A copy of the Full Announcement may be requested from the Company by contacting the company secretary at
cosec@mettle.net.

Registered office:
1st Floor, FedGroup Place, Willie van Schoor Avenue, Bellville, Western Cape

Cape Town
29 May 2020

Designated Advisor
Questco Corporate Advisory (Pty) Ltd
First Floor, Yellowwood House, Ballywoods Office Park, 33 Ballyclare Drive, Bryanston

Date: 29-05-2020 04:35:00
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.