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 In terms of section 3.4 (b) of the JSE Limited Listings Requirements, companies are required to publish a trading statement as soon as they are reasonably certain that the financial results for the current reporting period will be more than 20% different than that of the previous corresponding period. Earnings and headline earnings per share for the year ended 31 March 2020 is expected to vary from those reported in the prior year ended 31 March 2019 within the following ranges: Measure 31 March 2020 Restated* 31 As previously Expected range March 2019 reported 31 cents per share cents per share March 2019 cents per share Earnings per -425 and -427 10.85 10.85 share will decrease to a loss per share Earnings per -422 and -425 18.88 16.12 share from continuing operations, will decrease to a loss per share Loss per share -2 and -3 -8.03 -5.27 from discontinuing operations, will decrease Headline 32 and 34.5 13.45 13.45 earnings per share will increase Headline 34 and 37 18.59 15.83 earnings per share from continuing operations, will increase Headline loss -1.6 and -2 -5.14 -2.38 per share from continuing operations, will decrease *Prior year restated to account for the impact of discontinued operations of Jacana Media, Crystalbrook Distribution and Niveus 13 The loss per share in the current year can be attributed to the impairment of goodwill with a value of R2 039.9m. The goodwill was initially recognised upon the acquisition of eMedia Investments Proprietary Limited in the year ended 31 March 2014. The Group’s performance has been negatively impacted by an impairment of goodwill that has been necessitated by the effect of the current COVID-19 pandemic. The negative impact is being felt in the first half of the 2021 financial year due to the continued lockdown and slow restart to economic activity and has been factored into the results being published currently. The impact of the impairment has been forecasted from the loss of advertising revenue in some key industries such as fast foods, alcohol, the motor industry as well as the negative impact on the exchange rate. 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 year ended 31 March 2020 are scheduled to be published on or about 29 May 2020. Johannesburg 21 May 2020 Sponsor Investec Bank Limited Date: 21-05-2020 11:39:00 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.