Summarised Reviewed Annual Results for the Year ended 28 February 2022 and Cash Dividend Declaration Mahube Infrastructure Limited (Incorporated in the Republic of South Africa) (Registration number: 2015/115237/06) ISIN: ZAE000290763 JSE code: MHB (“Mahube” or the “Company”) SHORT-FORM ANNOUNCEMENT: SUMMARISED REVIEWED ANNUAL RESULTS FOR THE YEAR ENDED 28 FEBRUARY 2022 AND CASH DIVIDEND DECLARATION Salient features: • Dividends received up 1.6% to R55.8 million from R54.9 million in the comparative period last year • Total revenue up 76.6% to R78.9 million in comparison to R44.7 million for the comparative period last year, due to a favourable adjustment to financial assets measured at fair value • Basic earnings and headline earnings per share up to 118.9 cents per share in comparison to 21.7 cents for the comparative period last year • Tangible NAV per share at R11.21 compared to R10.63 in the comparative period last year • Final cash dividend declaration of 32.00 cents per share Investment portfolio Mahube is an infrastructure company that offers investors exposure to infrastructure assets in Southern Africa. The vision of Mahube is to stimulate fast, inexpensive and sustainable delivery and upkeep of infrastructure on a significant scale. Mahube aims to provide investment returns that are characterised by predictable and regular cash flows generated from infrastructure assets, long-term investment into ownership and operation of assets, and blue-sky upside from providing disruptive solutions to infrastructure-related market inefficiencies. Currently Mahube has invested in and holds equity interests in two wind farms and three solar photovoltaic farms with a collective power generation capacity of approximately 400 MW. Four of the renewable energy assets were licensed during Bid Window Round 1 of the Renewable Energy Independent Power Procurement Programme in South Africa. The fifth was licensed during Bid Window Round2. Each asset generates electricity that it sells to Eskom under a 20-year power purchase agreement. Condensed Statement of Comprehensive Income for the year ended 28 February 2022 % 28 February 2022 28 February 2021 change Revenue (R’000) 78 881 44 663 77 Net profit (R’000) 65 592 11 976 448 Earnings and headline earnings per 118.93 21.71 448 share (cents) Tangible net asset value per share 11.21 10.63 5 Dividend distribution The Board has pleasure in announcing that a gross dividend per ordinary share of 32.00 cents has been declared for the year ended 28 February 2022. Dividends are subject to Dividend Withholding Tax. The payment date for the dividend is Monday, 25 July 2022. • Dividends have been declared from income reserves. • Local Dividends Withholding Tax rate is 20%. • The gross dividend amount is 32.00000 cents per ordinary share. • The net cash dividend amount is therefore 25.60000 cents per ordinary share. • The Company has 55 151 000 ordinary shares in issue as at the declaration date. • The Company’s income tax reference number is 9473/844/17/4. Salient dates for the dividend will be as follows: 2022 Last day to trade cum the ordinary share dividend Tuesday, 19 July Ordinary shares commence trading ex-dividend Wednesday, 20 July Ordinary share dividend record date Friday, 22 July Payment date of ordinary share dividend Monday, 25 July Share certificates may not be dematerialised or rematerialised between Wednesday, 20 July 2022 and Friday, 22 July 2022, both days inclusive. Statement This short form announcement is the responsibility of the Directors and is a summary of the information contained in the full announcement and does not contain full or complete details. Furthermore, this short-form results announcement has not been reviewed, audited or reported on by Mahube’s auditors but has been extracted from the reviewed annual condensed financial statements for the year ended 28 February 2022, which were prepared by the Financial Director, Petro Lewis CA (SA) and have been independently reviewed by the Company’s auditors, BDO South Africa Inc. Their unmodified review opinion is available on the company's website at https://mahube.africa/wp-content/uploads/2022/05/Mahube-Signed-Review-Report.pdf. Availability Any investment decisions by shareholders and/or investors should be based on the full announcement released on SENS and published as follows: Company’s website athttps://mahube.africa/wp-content/uploads/2022/05/8344_Mahube-year-end-results- booklet-2022_FA-web.pdf And JSE website: https://senspdf.jse.co.za/documents/2022/jse/isse/mhbe/mah2022.pdf The full announcement is available for inspection, free of charge, during normal business hours at Mahube’s business address, 3rd Floor, Penthouse 5, 4 The High Street, Melrose Arch, 2196, or can be requested per email to info@mahube.africa By order of the Board 31 May 2022 JSE Sponsor to Mahube Questco Corporate Advisory Proprietary Limited Date: 31-05-2022 01:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 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