Trading Statement eMEDIA HOLDINGS LIMITED (Incorporated in Republic of South Africa) Registration number: 1968/011249/06 JSE share code: EMH IZIN: ZAE000208898 JSE share code: EMN IZIN: ZAE000209524 (“eMedia Holdings” or “the Group”) TRADING STATEMENT The directors of eMedia Holdings hereby advise shareholders that, in respect of the consolidated financial results for the six months ended 30 September 2019, earnings per share and headline earnings per share are expected to vary by the amounts included in the table below: 30 September 30 September 30 September 2018 30 September 2019 2018 Published 2019 Range (cents Restated (cents (cents per Range (%) per share) per share) share) Continuing operations: Earnings per share (cents) >120% 15.00 and 16.00 6.74 7.03 Headline earnings per share >190% 15.00 and 16.00 5.02 5.30 (cents) Discontinuing operations: Loss per share (cents) >65% -0.5 and -1.3 -4.19 -4.48 Headline loss per share (cents) >75% -0.1 and -0.4 -1.68 -1.96 Total operations: Earnings/(loss) per share >470% 14.65 and 15.15 2.55 2.55 (cents) Headline earnings/(loss) per >350% 15.15 and 15.80 3.34 3.34 share (cents) RESTATEMENT OF PRIOR YEAR FIGURES During the period under review, the operations of Jacana Media and Crystal Brook Distribution met the requirements for classification as a discontinued operation in terms of International Financial Reporting Standards (IFRS). Earnings per share and headline earnings per share in respect of the comparative period 30 September 2018 have been restated accordingly. The financial information on which this trading statement is based has not been reviewed or reported upon by the Group’s auditors. The Group’s results for the six months ended 30 September 2019 is expected to be published on SENS on or about 22 November 2019. Johannesburg 04 November 2019 Sponsor Investec Bank Limited Date: 04/11/2019 10:25:00 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.