Trading statement for the twelve months ended 31 December 2020 SABVEST CAPITAL LIMITED (Incorporated in South Africa) (Registration number 2020/030059/06) JSE share code: SBP ZAE000283511 ("Sabcap") TRADING STATEMENT FOR THE TWELVE MONTHS ENDED 31 DECEMBER 2020 In terms of the Listings Requirements of the JSE Limited, companies are required to publish a trading statement as soon as they are satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported on next will differ by 20% or more from the financial results of the previous corresponding reporting period. Shareholders are advised that the financial results of Sabcap for the twelve months ended 31 December 2020 are expected to be within the following estimates: Restated* Expected Expected Audited 12 Months to 12 Months to 12 Months to 31/12/2020 31/12/2020 31/12/2019 % change cents cents Net asset value per share + 11,2 to + 12,5 7390 to 7480 6648 Headline earnings per share - 27,2 to - 19,6 670 to 740 920,0 Earnings per share - 27,2 to - 19,6 670 to 740 920,0 Dividends per share - 66,7 25 75 *Restated as a result of the reverse acquisition accounting following the acquisition by Sabcap of all the ordinary and ‘N’ ordinary shares in Sabvest Limited. The estimated financial information as contained in this trading statement has not been reviewed and reported on by Sabcap’s external auditors. Sabcap’s audited financial results for the year ended 31 December 2020 are expected to be released on the Stock Exchange News Service on or about 25 March 2021. Sandton 11 March 2021 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 11-03-2021 05:49:00 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.