Unaudited interim results for the six months ended 30 June 2021 Brimstone Investment Corporation Limited ISIN Number: ZAE000015277 Share Code: BRT ISIN Number: ZAE000015285 Share Code: BRN Company Registration Number: 1995/010442/06 (Incorporated in the Republic of South Africa) ("Brimstone" or "the Company" or "the Group") UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2021 HIGHLIGHTS - Group profit before tax up 540% to R430.2 million - Earnings per share up 232% to 97.9 cents - Headline earnings per share up 230% to 100.8 cents - Finance costs down by R151.9 million (58%) - More than R900 million from disposal of the remaining Life Healthcare shares used to fully settle zero cost collar funding - Repurchase of 5.7 million "N" ordinary shares for R34.8 million - Improved debt and liquidity ratios FINANCIAL OVERVIEW Unaudited Unaudited Audited six months six months Year ended ended ended 30 June 30 June 31 December R'000 2021 2020 2020 Revenue 2 298 784 2 116 473 4 714 720 Operating profit 290 328 304 502 550 024 Fair value gains/(losses) 148 973 (189 998) (175 081) Share of profits of associates and joint ventures 108 468 33 354 153 198 Finance costs (110 072) (261 960) (400 725) Profit before tax 430 152 (97 807) 109 080 Earnings/(loss) per share (cents) Basic 97.9 (74.4) (73.0) Diluted 96.5 (74.4) (73.0) Headline earnings/(loss) per share (cents) Basic 100.8 (77.3) (61.5) Diluted 99.4 (77.3) (61.5) ASSETS Non-current assets 7 255 106 7 389 331 7 255 371 Current assets 2 285 438 3 483 025 3 088 205 TOTAL ASSETS 9 540 544 10 872 356 10 343 576 EQUITY AND LIABILITIES Capital and reserves 3 776 789 3 631 250 3 757 401 Non-current liabilities 4 337 358 4 517 512 4 385 267 Current liabilities 1 426 397 2 723 594 2 200 908 TOTAL EQUITY AND LIABILITIES 9 540 544 10 872 356 10 343 576 NAV per share (cents) 995 987 985 Shares in issue at end of period (000's) 247 789 252 803 252 803 INTRINSIC NET ASSET VALUE (INAV) INAV at 30 June 2021 calculated on a line-by-line basis, totalled R3.31 billion, or R13.36 per share (31 December 2020: R3.28 billion or R12.99 per share), representing an increase of 0.8% from 2020 (an increase of 2.9% on a per share basis). As at 30 June 2021, Brimstone Ordinary shares were trading at a discount of 49.6% to INAV (31 December 2020: 55.3%) and "N" ordinary shares traded at a discount of 55.9% to INAV (31 December 2020: 50.0%). The analysis of INAV is available on the Company's website at http://www.brimstone.co.za. The INAV information presented in this report has been prepared on a basis consistent with that used in the Integrated Report for the year ended 31 December 2020. Where the presentation of investments changed compared to 31 December 2020, these changes have been identified and the INAV information at 31 December 2020 has been re-presented to achieve comparability. DIVIDEND In line with the prior year, no dividend has been declared. F Robertson MA Brey Executive Chairman Chief Executive Officer 31 August 2021 ABOUT THIS ANNOUNCEMENT This short-form announcement is the responsibility of the directors of Brimstone Investment Corporation Limited. It is only a summary of the information in the unaudited interim results and does not contain full or complete details. Any investment decisions by investors and/or shareholders should be based on consideration of the unaudited interim results for the six months ended 30 June 2021 published on the JSE at https://senspdf.jse.co.za/documents/2021/jse/isse/BRT/ie2021.pdf. It is also available for viewing at http://www.brimstone.co.za/investor-relations/results-reports. Copies of the unaudited interim results may be requested from the company secretary (tmoodley@brimstone.co.za or tel +27 (0) 21 683 1444). This announcement has not been audited or reviewed by the Group's external auditors. DIRECTORATE AND ADMINISTRATION Registered office: Boundary Terraces, 1 Mariendahl Lane, Newlands, 7700, Cape Town Transfer Secretaries: Computershare Investor Services (Pty) Ltd, Rosebank Towers, 15 Biermann Avenue, Rosebank, 2196 Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited, 135 Rivonia Road, Sandton, 2196 Directorate: F Robertson (Executive Chairman)*, MA Brey (Chief Executive Officer)*, GG Fortuin (Financial)*, MI Khan (Chief Operating Officer)*, T Moodley*, PL Campher (Lead Independent), M Hewu, N Khan, KR Moloko, LA Parker, FD Roman *Executive Company Secretary: T Moodley Website: http://www.brimstone.co.za E-mail: info@brimstone.co.za Date: 31-08-2021 08:00:00 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 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