Short form announcement: Audited summarised provisional consolidated annual financial statements - 30 April 2019 AVIOR CAPITAL MARKETS HOLDINGS LIMITED Incorporated in the Republic of South Africa (Registration number: 2015/086358/06) JSE Code: AVR ISIN: ZAE000211637 ("Avior Holdings" or “the Company”) SHORT FORM ANNOUNCEMENT: AUDITED SUMMARISED PROVISIONAL CONSOLIDATED ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2019 AND CAUTIONARY ANNOUNCEMENT HIGHLIGHTS: • REVENUE DOWN 19% • PROFIT FROM OPERATIONS DOWN 365% • HEADLINE EARNINGS PER SHARE DOWN 542% 1. Introduction 1.1. Avior Holdings is the holding company of a capital markets group (“the Group”) that provides research, stockbroking (e.g. equities, derivatives, fixed income and global), corporate broking and access and transition management services offerings to institutional clients, corporate and private wealth clients in South Africa and abroad. The Group has offices in Johannesburg, Cape Town and London. Avior Holdings listed on the JSE Limited’s (“JSE”)’s Alternative Exchange (“ALTX“) on 6 June 2017. 1.2. Avior Capital Markets (Pty) Limited, a wholly owned subsidiary of Avior Holdings, is rated one of the top 10 research companies in the Financial Mail Ranking the Analyst Survey and has achieved an overall unweighted ranking of number 7 in their recent rankings. 2. Short Form Announcement 2.1. This short-form announcement is the responsibility of the directors and is only a summary of the information in the full announcement. The full announcement was released on SENS on 30 July 2019 and can be found on the Company's website at https://avior.co.za/investor- centre/financials/. 2.2. Copies of the full announcement may also be requested at the Company's registered office, at no charge, during office hours. In line with the Company's dividend policy, Avior Holdings has not declared a dividend for the year ended 30 April 2019. 2.3. Any investment decision should be based on the full announcement published on SENS and on the Company's website. https://senspdf.jse.co.za/documents/2019/JSE/ISSE/AVRE/AviorAFS19.pdf 3. Cautionary Announcement Shareholders are hereby advised that the board of directors of the Company is currently considering the delisting of the Company from the JSE’s ALTX and accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until such time as a further announcement has been made by the Company in this regard. By order of the board Stephan David Price Chairman 30 July 2019 Directors: Executive Directors: - Peter Koutromanos (Chief Executive Officer) - Kevin Mattison (Managing Director) - Justin Larsen (Financial Director) Independent Non-executive Directors: - Marilyn Ramplin - Stephan David Price (Chairman) - Thabo Mokgathla Registered office: 11th Floor, South Tower, 140 West Street, Sandton, Johannesburg www.avior.co.za Designated Advisor: Pallidus Capital Proprietary Limited Company secretary: Fusion Corporate Secretarial Services Proprietary Limited Transfer secretaries: 4 Africa Exchange Registry Proprietary Limited Date: 30/07/2019 05:40:00 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.