Updated trading statement for the year ended 31 December 2021 SABVEST CAPITAL LIMITED (Incorporated in South Africa) (Registration number 2020/030059/06) Share code: SBP ISIN: ZAE000283511 (“Sabcap” or “the Company”) UPDATED TRADING STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021 Shareholders are referred to the preliminary trading statement released on the Stock Exchange News Service (“SENS”) on 17 January 2022 in which they were advised that a further trading statement with expected ranges for the Company’s reporting metrics would be published by the end of February 2022, in advance of the release of Sabcap’s final financial results. 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 year ended 31 December 2021 are expected to be within the following estimates: Expected Audited year ended year ended Expected 31/12/2021 31/12/2020 % change cents cents Net asset value per share + 20,9 to + 27,6 9000 to 9500 7444 Headline earnings per share + 130,2 to + 151,1 1631 to 1772 708,5 Earnings per share + 130,2 to + 151,1 1631 to 1772 708,4 Dividends per share (proposed) + 200,0 75 25 The estimated financial information as contained in this trading statement has not been reviewed or reported on by Sabcap’s external auditors. Sabcap’s audited financial results for the year ended 31 December 2021 are expected to be released on SENS on or about 10 March 2022. Sandton 17 February 2022 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 17-02-2022 03:57:00 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.