Financial Results Announcement for the year ended 31 August 2019 Efficient Group Limited Incorporated in the Republic of South Africa Registration number 2006/036947/06 JSE Share code: EFG ISIN: ZAE000151841 Financial Results Announcement For the year ended 31 August 2019 OVERVIEW The vision of Efficient Group (“the Group”) is to be a leading financial services business that creates value for our clients through a comprehensive financial services offering. The Efficient Group was established in 2003, primarily as an asset management company. In 2009 we listed on the JSE in order to raise capital to build an in-house retail distribution network. Today, we are a leading diversified financial services group focused on professional advice, quality solutions and tailor-made investment products across the full financial services value chain. Operating through three clusters — Financial Services; Solutions and Investments — we service over 72 000 clients across South Africa and employ 409 people including 201 registered financial advisors. FINANCIAL PERFORMANCE 2019 2018 Revenue: 1% R1.073 billion R1.084 billion Recurring Headline Earnings*: 108% R75 million R36 million Earnings Per Share: 110% 32.14 cents (317.91 cents) Headline Earnings Per Share: 110% 32.95 cents (318.18 cents) Recurring Headline Earnings Per Share: 113% 84.89 cents 39.85 cents Cash Generated By Operations: 116% R95 million R44 million Assets Under Administration: 11.57% R122.5 billion R109.8 billion Assets Under Advice: 2.49% R20.6 billion R20.1 billion Assets Under Management: 3.08% R20.1 billion R19.5 billion Assets Under Consulting: 14.95% R34.6 billion R30.1 billion *Excluding the once-off impact of the profit share agreement cancellation (PSA cancellation), including the finance cost related thereto, in the Investments cluster and other once-off adjustments HIGHLIGHTS FROM OUR THREE CLUSTERS Financial Services Cluster + Assets under Advice up 2.49% to R 20.6 billion. + Efficient Med generated a full-year revenue of R2.76 million. + 201 Registered Financial Advisors (RFAs). + Our RFAs collectively spent 5 069 hours on professional development training. Solutions Cluster + The assets under management for the combined Funds of Funds (FoF) range is in excess of R4 billion. + Efficient Private Clients launched a Local Equity Note, in collaboration with Naviga. + Efficient Benefit Consulting successfully on-boarded several new clients. Investments Cluster + Boutique Investment Partners beat tough economy to grow Assets under Consulting and revenue. + Boutique Collective Investments performed strongly. + Boutique Investment Partners continues to have strong relationships, loyalty and trust with its more than 40 large RFA clients. DIVIDENDS The Group’s dividend policy is to pay a dividend equal to 80% of free cash flows. Free cash flow is calculated after making provision for cash reserves, planned capital expenditure, acquisitions and repayments. Based on this guideline, the directors determined that no dividend be paid for the financial year under review, this allows the company to reduce its debt (2018: 9.40 cents per share). FOR FURTHER INFORMATION The content of this short form announcement is the responsibility of the directors. Shareholders are advised that this short form announcement represents a summary of the information contained in the full long form announcement which is available at https://senspdf.jse.co.za/documents/2019/jse/isse/efg/ye19.pdf and also published on the Efficient Group’s website at https://www.efgroup.co.za/investor-relations/sens. The Efficient Group Annual Financial Statements of 2019 is available at https://www.efgroup.co.za/investor-relations/reports. Any investment decisions by investors and/or shareholders should be based on a consideration of the full announcement published on SENS on Monday, 18 November 2019. Both the short form and full announcement are also available for inspection at the registered offices of The Efficient Group and sponsor, Merchantec Capital, during business hours, and copies may be obtained at no cost on request from the Company Secretary, Acorim who is contactable on 011 325 6363 or efficient@acorim.co.za. Date: 18/11/2019 12:54:00 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.