Trading Statement for the year ended 29 February 2020 SPANJAARD LIMITED (Incorporated in the Republic of South Africa) (Registration number 1960/004393/06) Share code: SPA ISIN: ZAE000006938 ("the Company”) TRADING STATEMENT FOR THE YEAR ENDED 29 FEBRUARY 2020 In terms of paragraph 3.4(b)(i) of the Listings Requirements of the Johannesburg Stock Exchange, listed companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the next period to be reported on will be more than 20% different from those of the previous corresponding period or from a profit forecast previously provided to the market in relation to such period. The earnings per share and headline earnings per share is expected to reflect earnings of 8.5 cents and 9.9 cents respectively for the year ended 29 February 2020, which is more than 65% lower than the earnings and headline earnings of 30.7 cents per share and 31.6 cents per share respectively for the audited results for the year ended 28 February 2019. The financial information, on which this trading statement is based, has not been reviewed and reported on by the Company’s auditors. The results for the year ended 29 February 2020 are expected to be published on or about 14 July 2020. By Order of the Board Johannesburg 23 June 2020 Sponsor Arbor Capital Sponsors Date: 23-06-2020 01:49:00 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.