Further Trading Statement 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 Group” or “the Company”) FURTHER TRADING STATEMENT In accordance with paragraph 3.4(b) of the JSE Limited (“JSE”) Listing Requirements, a listed company is required to publish a trading statement as soon as they are reasonably certain that the financial results for the financial period to be reported on next will differ by at least 20% from those of the prior comparative period or from the profit forecast previously provided to the market in relation to such period. Further to the initial trading statement released on SENS on 10 September 2018, shareholders are hereby advised that the Group expects to report net profit attributable to owners of the parent for the year ending 31 August 2018, of between R142 million and R162 million, compared to a net profit attributable to owners of the parent of R16.7 million for the year ending 31 August 2017, as per the pre-listing statement issued on 13 December 2017 (“PLS”). The net profit for the financial ended 31 August 2017 included R2.8 million profit attributable to discontinued operations, whereas no earnings from discontinued operations are expected for the current year. The Group expects to report basic earnings per share (“EPS”) for the year ending 31 August 2018 of between 46.45 and 52.99 cents per share compared to the EPS of 7.86 cents per share reported on for the year ended 31 August 2017, and a decrease of between 80.86% and 78.16% as compared to the EPS forecast for the financial year ending 31 August 2018 of 242.68 cents per share, as per the PLS (“2018 Forecast”). The Group also expects to report headline earnings per share (“HEPS”) for the year ending 31 August 2018 of between 47.57 and 54.12 cents per share, compared to HEPS of 5.66 cents per share reported on for the year ended 31 August 2017, and a decrease of between 80.40% and 77.70% as compared to the HEPS forecast of 242.68 cents per share, in terms of the 2018 Forecast. The decrease in EPS and HEPS compared to the 2018 Forecast is mainly attributable to: - A contract with a multi-national company was scheduled to commence earlier in the reporting period which was delayed and only commenced in the latter part of the financial year. The contract has gone well since commencement; - preparation work for the implementation of the above contract whereby the Company incurred certain once-off costs; - acquisitions which were not concluded within the expected timelines and the Company continues to evaluate various value creating transactions; and - the delay in an acquisition which was subsequently announced on SENS on 11 September 2018, which has revenues in excess of R1 billion, strong cash generation with cash from operations of R75 million and EBITDA of R70 million. The financial information on which this trading statement is based has not been reviewed or reported on by the Company’s auditors. AYO Technology is in the process of finalising its financial results for the year ending 31 August 2018, which is scheduled to be released on or about 8 November 2018. Cape Town 6 November 2018 Sponsor PSG Capital Date: 06/11/2018 11:00:00 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.