LABAT AFRICA LIMITED - Trading Update Statement For The Year Ended 31 May 2026

LABAT AFRICA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1986/001616/06)
("Labat Africa" or "the Company")
ISIN Code: ZAE000018354 Share Code: LAB
FSE Code: LEI 9845000R73DF5EE41J88



TRADING UPDATE STATEMENT FOR THE YEAR ENDED 31 MAY 2026




In terms of paragraph 6.26 of the JSE Limited Listings Requirements, a listed company is required to
publish a trading statement as soon as it is satisfied that a reasonable degree of certainty exists that
the financial results for the period to be reported on next will differ by at least 20% from those of the
previous corresponding period.


Labat's financial year-end is 31 May, while certain of its key operating subsidiaries, including Classic
International and Ahnamu, have financial year-ends of 28 February. The Board is considering aligning
reporting periods across the Group over time.


Accordingly, shareholders are advised that the Company has reasonable certainty that its financial
results for the year ending 31 May 2026 will differ by more than 20% from those reported for the year
ended 31 May 2025.


Based on the information currently available, the Company expects to report a significant
improvement in financial performance for the year ending 31 May 2026.

Accordingly, shareholders are advised that:


   '   Revenue is expected to increase by between 146,78% and 166,78% to approximately R511
       million, compared to R199 million reported for the prior corresponding period.
   '   Earnings per share ("EPS") is expected to decrease by between 12.85% and 32.85% to
       approximately 8.17 cents per share, compared to 10.59 cents per share reported for the
       prior corresponding period.

   '   Headline earnings per share ("HEPS") is expected to increase by between 96.48% and
       116.48% to approximately 11.15 cents per share, compared to 5.40 cents per share reported
       for the prior corresponding period.

   '   Net asset value ("NAV") per share is expected to increase by between 44,57% and 64,57% to
       approximately 34.36 cents per share, compared to 22,23 cents per share reported for the prior
       corresponding period.



The improvement in performance is attributable to enhanced operational activity across the Group.
Classic International and Ahnamu performed well in their financial years ending February 2026,
significantly boosting the Group's earnings and net asset value.


Shareholders are further advised that the Group's annual results for the year ending 31 May 2026 will
include an additional three months of trading for these subsidiaries. Based on current performance
trends, this is expected to further support the Group's overall financial performance.


The financial information on which this trading statement is based has not been reviewed or reported
on by the Company's external auditors.
JOHANNESBURG
20 APRIL 2026

________________________________________________________________________________________________
Sponsor:
Vunani Sponsors

Date: 20-04-2026 10:50:00

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