REUNERT LIMITED - Trading statement

Trading statement

REUNERT LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1913/004355/06)
JSE and A2X share code: RLO
ISIN: ZAE000057428
("Reunert" or the "Company" or the "Group")

TRADING STATEMENT

In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements ("Listings Requirements"),
issuers 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 current reporting period will differ
by at least 20% from the financial results of the previous comparative period.

Total earnings guidance including discontinued operations

In compliance with the Listings Requirements, shareholders of Reunert are advised that, in respect of
the interim financial results for the six-month period ended 31 March 2025 ("current reporting period"),
("Interim Results"), the Company expects to report the following earnings (including discontinued
operations, as detailed below):

•   earnings per share ("EPS") of between 201 cents and 217 cents, being a decrease of between 25%
    and 30% when compared to EPS of 289 cents reported for the six-month period ended 31 March
    2024 ("prior corresponding period"); and
•   headline earnings per share ("HEPS") of between 219 cents and 235 cents, being a decrease of
    between 19% and 24% when compared to HEPS of 289 cents reported for the prior corresponding
    period.

The Interim Results have been impacted by:

•   a key fuze contract in the Defense Cluster being deferred and resulting in the associated revenue
    and profit occurring in the second half of the 2025 financial year;
•   lower South African cable sales primarily due to delays in the anticipated energy infrastructure
    investment programme;
•   the continued negative performance of the Group's battery storage business, Blue Nova Energy
    Proprietary Limited ("Blue Nova"), which has resulted in the board of directors of Reunert
    (the "Board") deciding to dispose of Blue Nova at a net loss. In terms of the International Financial
    Reporting Accounting Standards ("IFRS Accounting Standards") Accounting Standard 5 – Non-
    current assets held for sale and discontinued operations, Blue Nova will be classified as an asset
    held for sale and consequently a discontinued operation for the current reporting period. The
    negative effects on HEPS and EPS for the period are estimated at 11 cents and 34 cents,
    respectively; and
•   finally, the net once-off receipt of the COVID-19 business interruption claim received in the
    prior corresponding period resulting in a non-recurring positive HEPS and EPS impact of 32 cents.

Earnings guidance from continuing operations

In respect of the Group's earnings from continuing operations (being the Group, excluding Blue Nova)
for the current reporting period, the Company expects to report:

•   EPS of between 235 cents and 250 cents, being a decrease of between 16% and 21% when
    compared to EPS of 296 cents* in respect of the prior corresponding period; and
•   HEPS of between 230 cents and 246 cents, being a decrease of between 17% and 22% when
    compared HEPS of 296 cents* in respect of the prior corresponding period.

*Re-presented for discontinued operations in accordance with IFRS Accounting Standards 5 –
Non-current assets held for sale and discontinued operations.

The Group's other businesses have generally delivered financial results broadly in line with those
reported in the prior corresponding period.

The financial information on which this trading statement is based has not been reviewed nor reported
on by the Company's external auditors and is the responsibility of the Board.

Reunert's Interim Results are expected to be released on SENS on or about Wednesday, 28 May 2025.


Johannesburg
21 May 2025

Sponsor
One Capital

Date: 21-05-2025 09:00:00
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