Trading Stat for 6 months ended 29Feb2020, Impact of COVID-19 on recent results & w/drawal of 5yr profit projections LABAT AFRICA LIMITED Incorporated in the Republic of South Africa (Registration number 1986/001616/06) JSE code: LAB ISIN: ZAE000018354 (“Labat” or “the Company”) TRADING STATEMENT FOR THE SIX MONTHS ENDED 29 FEBRUARY 2020, IMPACT OF COVID-19 ON RECENT RESULTS AND WITHDRAWAL OF 5 YEAR PROFIT PROJECTIONS In terms of paragraph 3.4(b)(i) of the Listings Requirements of the Johannesburg Stock Exchange, listed companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the next period to be reported on will be more than 20% different to those of the previous corresponding period or from a profit forecast previously provided to the market in relation to such period. Given the tough trading conditions and repositioning of the Company as announced in September 2019, despite revenue decreasing by 35% to R219 million from R312 million when compared with the prior comparative period, the Board reports that total comprehensive income for the period increased by 180% to R2.8 million from a loss of (R3.5 million) compared to the prior period, albeit primarily due to recognition of other income on a once off basis. The earnings per share will increase by 182% from a prior period loss of (1.21) cents per share to 0.70 cents per share for the current six months ended 29 February 2020 due to the improved results outlined above. The headline loss per share will increase by 73.7% from a headline loss of (1.75) for the previous corresponding period to (3.04) for the six months ended 29 February 2020. The financial information, on which this trading statement is based, has not been reviewed or reported on by the Company’s auditors. The unaudited results for the six months ended 29 February 2020 are expected to be published on or about 27 April 2020. Shareholders are also advised that although the healthcare and technology businesses performed reasonably well from March 2020 to date, the COVID-19 pandemic and the subsequent 5-week lockdown has severely impacted on the volumes in the Fuel business. Management is currently assessing the impact on the business and the various options available, to mitigate the risk in respect of obligations toward third parties in the Fuel business. As a result, thereof, the Company has withdrawn the 5 year profit projections for the year ending 31 August 2020 and the 4 years thereafter, and will be issuing a new forecast for the two years ending 31 August 2021 and 31 August 2022, commencing from 1 September 2020, primarily due to the group’s entry into the cannabis and hemp industry. A further announcement will be made in due course, including details of an intended capital raise. JOHANNESBURG 24 April 2020 ARBOR CAPITAL SPONSORS Date: 24-04-2020 05:00:00 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.