RMB HOLDINGS LIMITED - Trading Statement

Trading Statement

RMB HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/005115/06)
(ISIN: ZAE000024501)
(JSE ordinary share code: RMH)
("RMH")

TRADING STATEMENT

RMH has adopted net asset value (NAV) per share as its benchmark for trading statement purposes, in line
with the provisions of paragraph 3.4(b)(vi) of the JSE Listings Requirements. In accordance with paragraph
3.4(b), RMH is required to inform shareholders when it is reasonably certain that this benchmark will differ by
more than 20% from that of the previous corresponding period, 31 March 2025.

In accordance with IAS 36 – Impairment of Assets, investments are assessed for impairment annually, or more
frequently if indicators exist that the carrying amount may not be recoverable. As part of the assessment for
the year ended 30 September 2025, an indicator of impairment was identified in respect of RMH's investment
in Atterbury Property Holdings Proprietary Limited ("Atterbury"). An impairment assessment was performed,
resulting in the recognition of an impairment loss of R272 million, as the recoverable amount was below the
carrying value.

RMH's NAV for the current period was further impacted by the elimination of the crossholding, following the
acquisition of RMH shares by Atterbury Fund Proprietary Limited and AttBid Proprietary Limited, in accordance
with IAS 32 – Financial Instruments: Presentation.

Further details regarding the elimination of the crossholding will be included in RMH's unaudited condensed
interim results for the six months ended 31 March 2026, expected to be released on or about 25 May 2026.

RMH therefore provides the following guidance to shareholders in respect of its NAV benchmark:

 Cents per share        Expected range as at              Actual as at                      Range
                           31 March 2026                 31 March 2025

 Net asset value           46.06 – 52.64                     65.8                      (20%) - (30%)

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

Bryanston
20 May 2026

Sponsor
BSM Sponsors

Date: 20-05-2026 04:00:00
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