NUTUN LIMITED - Trading Statement in respect of the half year ended 31 March 2026

Trading Statement in respect of the half year ended 31 March 2026

Nutun Limited
(Incorporated in the Republic of South Africa)
Registration number: 2002/031730/06
JSE share code: NTU
ISIN: ZAE000167391
("Nutun" or "the company" or "the group")

TRADING STATEMENT IN RESPECT OF THE HALF YEAR ENDED 31 MARCH 2026

Trading Update

Nutun South Africa and Nutun International remain customer-centric solution providers. Each has a clearly
defined target market, an established client base, a streamlined operating structure and an experienced
management team. These strengths support their positions in the South African collections and recovery
market and the South African business process outsourcing ("BPO") offshoring sector.

The simplified group is focused on two priorities. The first is profitability over the short-to-medium term. The
second is sustainable high-quality growth over the long term.

Operational performance during the period was strong, particularly for Nutun South Africa. Earnings were
however adversely affected by Rand strength and accelerated amortisation driven by forward looking macro-
economic assumptions including an elevated interest rate forecast relative to our expectations.

Trading Statement
In accordance with the Listings Requirements of the JSE, Nutun advises shareholders of the following expected
ranges for H1 2026:


                                        Half Year ended                  Half Year ended              Half year ended
                                         31 March 2026                   31 March 2026                31 March 2025
                                          Expected                          Expected                      Actual
                                        number range                    percentage range
Continuing earnings [1]
Basic loss                             -R59m to -R68m            Loss decrease between 45 – 52%           -R122m
Basic loss per share                -7.5 cents to -8.6 cents     Loss decrease between 44 – 52%         -15.6 cents
Headline loss                          -R59m to -R68m            Loss decrease between 45 – 52%           -R122m
Headline loss per share             -7.5 cents to -8.6 cents     Loss decrease between 44 – 52%         -15.6 cents
Core loss[2]                             -R59m to -R68m          Loss decrease between 5 – 17%            -R71m
Core loss per share[2]              -7.5 cents to -8.6 cents     Loss decrease between 5 – 17%          -9.1cents


                                                                                                                
                                            Half Year ended                       Half Year ended     Half year ended
                                            31 March 2026                         31 March 2026       31 March 2025
                                              Expected                               Expected             Actual
                                            number range                         percentage range
Total earnings
Basic loss                                 -R59m to -R68m         Between loss decrease of 8% and       -R64m
                                                                  loss increase of 6%
Basic loss per share                   -7.5 cents to -8.6 cents   Between loss decrease of 8% and    -8.2 cents
                                                                  loss increase of 6%
Headline loss                             -R59m to -R68m          Loss decrease between 50 – 57%        -R135m
Headline loss per share                -7.5 cents to -8.6 cents   Loss decrease between 50 – 56%     -17.2 cents
Core loss [2]                             -R59m to -R68m          Loss decrease between 5 – 17%         -R71m
Core loss per share [2]                -7.5 cents to -8.6 cents   Loss decrease between 5 – 17%      -9.1 cents

 1.   Earnings /(loss) from continuing operations exclude results from discontinued operations.
 2.   Core earnings from continuing operations is a non-IFRS measure which is calculated by adjusting headline
      earnings with the following:
      •    Once-off transaction costs which are directly attributable to corporate activity (primarily legal and
           consulting fees).
      •    Adjustments on put and call options over non-controlling interests, namely imputed interest on the put option
           liability, re-measurements of the put option liability and fair value adjustments on the call option derivative .
      •    Once-off or accelerated items, where these are reasonably expected not to re-occur in the ordinary course
           of business in future reporting periods.
      •    Adding back specified headline earnings exclusions, if the gain/loss is considered part of Nutun's normal
           operations.

The financial information on which this trading statement is based on has not been reviewed by or reported on
by the group's external auditors.

Results Announcement
Nutun's results for the half year ended 31 March 2026 will be released on SENS on Monday, 18 May 2026.


Sandton
13 May 2026

JSE equity sponsor:
Investec Bank Limited

Legal Advisor to the company:
ENS

Enquiries:
IR@nutun.com




                                                                                                                           2

Date: 13-05-2026 05:42:00
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.