Summarised provisional consolidated financial results for the year ended 29 February 2020 ACSION LIMITED (Registration number 2014/182931/06) (Incorporated in the Republic of South Africa) Share code: ACS ISIN: ZAE000198289 ("Acsion" or "the Company") Annual Financial Results For the year ended 29 February 2020 Highlights up REVENUE 5.1% increase from R653.4 million to R687.0 million down HEADLINE EARNINGS PER SHARE 8.5% decrease from 71.73 cents per share to 65.61 cents per share down EARNINGS PER SHARE 47.2% decrease from 233.93 cents per share to 123.40 cents per share up NET ASSET VALUE PER SHARE 7.4% increase from 1 733.56 cents per share to 1 861.09 cents per share No dividend was proposed for 2019 or 2020 This short form announcement is the responsibility of the directors. It is only a summary of the information contained in the full announcement and does not contain full or complete details and was released on SENS on 28 May 2020. The full announcement can be found on the Company's website https://www.acsionsa.co.za/sens.htm and on the JSE's website at https://senspdf.jse.co.za/documents/2020/jse/isse/ACSE/ye2020.pdf. The full announcement is available for inspection, at no charge, at the registered office of Acsion at Mall@Reds Shopping Centre, Corner Hendrik Verwoerd and Rooihuiskraal Drive, Rooihuiskraal Ext 15, Centurion, from 08:00 to 17:00 on business days or copies of the full announcement are available on request by emailing sandarie@acsionsa.co.za. In addition, the auditor's unmodified report, including key audit matters, is contained in the annual financial statements which are available on the Company's website at https://www.acsionsa.co.za/results.htm. Any investment decisions should be based on the full announcement. D Green K Anastasiadis Chairman Chief Executive Officer 28 May 2020 Directors: D Green (Chairman)*, K Anastasiadis (CEO), S le Roux (FD), M Hlobo*, PD Sekete*, T Jali*, HN Bila* (*Independent non-executive) Registered office: Mall@Reds, 1st Floor, Corner of Rooihuiskraal and Hendrik Verwoerd Drives, Rooihuiskraal Ext 15, Centurion Postal address: PO Box 569, Wierda Park, 0149 Registration number: 2014/182931/06 Transfer secretaries: Computershare Investor Services Proprietary Limited, Rosebank Towers, 15 Bierman Avenue, Rosebank, 2192 Company secretary: MWRK Accountants and Auditors Incorporated Chartered Accountants Sponsor: Nedbank Corporate and Investment Banking www.acsionsa.co.za Date: 28-05-2020 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.