Decision not to declare a dividend Combined Motor Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 1965/000270/06) Share code: CMH ISIN: ZAE000088050 (“CMH” or “the Group”) ANNOUNCEMENT REGARDING DECISION NOT TO DECLARE A FINAL DIVIDEND Since the financial year-end of CMH in February 2020, the world has been hit by the COVID-19 pandemic, resulting in an economic lockdown in many parts of the world, including South Africa. While the board remains confident in the financial position of the Group, there is uncertainty as to the impact that Covid-19 will have on operations in the coming months. As a precautionary measure, to preserve cash to sustain the Group’s operations into the foreseeable future, the Board has decided not to declare a final dividend. Whilst the Group continues to meet its current solvency and liquidity obligations, the Board considers it prudent and in the best interests of the Group and all its stakeholders to preserve its liquidity. The key to sustainability during these abnormal times is a strong cash position and the ability to swiftly align operating expenses to fluctuating levels of income both during the lockdown and in the months that follow. Both of these attributes are proven strengths of the Group and will provide the necessary foundation to continue trading on a sustainable basis. Durban 18 June 2020 Sponsor PricewaterhouseCoopers Corporate Finance (Pty) Ltd Date: 18-06-2020 02:00:00 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.