Trading Statement DENEB INVESTMENTS LIMITED Registration number: 2013/091290/06 (Incorporated in the Republic of South Africa) JSE share code: DNB ISIN: ZAE000197398 ("Company" or the "Group") TRADING STATEMENT In terms of section 3.4(b) of the JSE Limited Listings Requirements, a listed company is required to publish a trading statement as soon as it becomes reasonably certain that the financial results for the next period to be reported on will differ by 20% or more from the financial results for the previous corresponding period. The Company hereby advises that a reasonable degree of certainty exists that for the 6-month period ended 30 September 2023 ("Current Reporting Period"): - Earnings per share ("EPS") is expected to range between 8.5 cents and 12.1 cents per share, representing a decrease of between 33% and 53% compared to the EPS of 17.98 cents reported for the 6-month period ended 30 September 2022; and - Headline earnings per share ("HEPS") is expected to range between 8.6 cents and 11.8 cents per share, representing a decrease of between 26% and 46% compared to the HEPS of 16.05 cents reported for the 6-month period ended 30 September 2022. The Company further advises that the financial results for the Current Reporting Period are not comparable to the Prior Reporting Period as the Prior Reporting Period includes the net proceeds after taxation received from the insurance claim for business interruption, which equates to R43,7 million or 10.01 cents per share. The Company accordingly advises that if the proceeds of the insurance claim are excluded from the financial results for the Prior Reporting Period, a reasonable degree of certainty exists that for the Current Reporting Period: - EPS is expected to range between 9.5 cents and 11.1 cents per share, representing an increase of between 19% and 39% compared to the adjusted EPS of 7.97 cents for the 6-month period ended 30 September 2022; and - HEPS is expected to range between 9.6 cents and 10.8 cents, representing an increase of between 59% and 79% compared to the adjusted HEPS of 6.04 cents for the 6-month period ended 30 September 2022. The financial information on which this trading statement is based has not been reviewed or reported on by the Group's auditors. The Group's results for the Current Reporting Period are expected to be published on or about end November 2023. Cape Town 21 November 2023 Sponsor PSG Capital Date: 21-11-2023 09:45:00 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.