Reviewed interim condensed consolidated financial statements for the period ended 31 December 2019 AVENG LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1944/018119/06) ISIN: ZAE000111829 SHARE CODE: AEG ("Aveng" or "the Group") Short-form SENS Announcement Reviewed interim condensed consolidated financial statements for the period ended 31 December 2019 SALIENT FEATURES - Group revenue of R11,2 billion (December 2018: R13,4 billion) as the Group proceeded with planned non-core asset disposals - Net operating profit of R14 million (December 2018: R484 million loss) driven by core business performance - Moolmans returned to profitability and cash positive - McConnell Dowell maintained profitable trend, cash positive and grew order book - Core order book of R17,9 billion - 72% international, 28% South Africa - R222 million non-core asset sales proceeds received - R200 million debt repaid - Sustained focus on cost reduction - Headline loss improved to R205 million (1,1 cents per share) from a restated loss of R703 million (5,5 cents per share) - Loss per share improved to 0,9 cents per share from a loss of 7,2 cents per share - Net asset value per share decreased to 12,3 cents per share from 12,7 cents per share About Aveng Limited Aveng’s primary geographic markets are South Africa and the rest of sub-Saharan Africa, Australia, New Zealand and Southeast Asia. As the Group transitions to an international infrastructure, resources and mining business, its main market sectors will be contract mining in South Africa and the rest of sub-Saharan Africa, and construction in Australia, New Zealand and Southeast Asia. The short-form announcement is the responsibility of the directors and is only a summary of information in the full announcement which is available on the company’s website (www.aveng.co.za). This announcement does not contain full or complete details and any investment decisions by investors and/or shareholders should be based on consideration of the published SENS available on: https://senspdf.jse.co.za/documents/2020/JSE/ISSE/AEG/HY20Result.pdf Review opinion The interim results for the six month period ended 31 December 2019, have been reviewed by the Company’s external auditors Ernst & Young Inc., in accordance with International Standard on Review Engagements ISRE 2410 Review of Interim Financial Information Performed by the Independent Auditors of the Entity (“ISRE 2410”). The unmodified review opinion is available on request from the Company Secretary at the Company’s registered office. The full announcement is available for inspection at the registered office and/or the sponsor’s office, at no charge during office hours. 24 February 2020 Sponsors UBS South Africa Proprietary Limited Executive Directors EK Diack (Executive Chairman) | SJ Flanagan (Group Chief Executive Officer) | AH Macartney (Group Finance Director) Non-Executive Directors MA Hermanus (Lead Independent Non-executive) | PA Hourquebie (Independent Non-executive) | MJ Kilbride (Independent Non-executive) | B Modise (Independent Non-executive) Registered office rd 3 Floor, 10 The High Street, Melrose Arch, 2076 Date: 24-02-2020 05:09:00 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.