Audited Group Results 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 ("Company" or "Group") AUDITED GROUP RESULTS FOR THE YEAR ENDED 29 FEBRUARY 2020 INTRODUCTION This short-form announcement is the responsibility of the Directors and is only a summary of the information in the full announcement. The information in this announcement has been extracted from audited information, but the announcement itself is not audited. The full announcement was released on SENS on 7 July 2020, and can be found on the Company's website at: https://www.spanjaard.biz/financials/ and also at the following link: https://senspdf.jse.co.za/documents/2020/JSE/ISSE/SPA/SPAAFS20.pdf Certain key audit matters were raised in the unmodified audit opinion issued by the auditors on the annual consolidated financial statements. The full auditors report can be viewed on the following web-link: https://www.spanjaard.biz/financials/ Any investment decisions should therefore be based on the full announcement released on SENS and on the Company's website. The full announcement is available for inspection at no charge during normal business hours on business days at the registered office of the Company and the office of the Sponsor. Copies may be requested from the registered office of the Company. KEY FINANCIAL RESULTS SUMMARY Year ended Year ended increase/ R'000 29 Feb 2020 28 Feb 2019 (decrease) Revenue 123 731 126 244 (2 513) Operating profit/(loss) 1 946 5 039 (3 093) Headline earnings per share - cents per share 27,5 31,6 (4,1) Earnings per share - cents per share 26,1 30,7 (4,6) Net asset value per share attributable to ordinary shareholders - cents 582,8 544,0 38,8 Dividends declared per share - cents - interim - - - - final - - - By order of the Board TN Spanjaard Acting Chief Executive Officer 7 July 2020 DIRECTORS: M Notrica (Independent Non-executive Chairman)* TN Spanjaard (Acting Chief Executive Officer) S Vassan Makan (Financial Director) GF Cort CKT Palmer S Zikalala* HF Kocks* * Independent Non-executive Director COMPANY SECRETARY: Levitt Kirson Business Services Proprietary Limited 4th Floor, Aloe Grove, Houghton Estate Office Park, 2 Osborn Road, Houghton, 2198 REGISTERED OFFICE: 748 - 750 Fifth Street, Wynberg, Sandton, 2090 TRANSFER SECRETARIES: Computershare Investor Services Proprietary Limited Rosebank Towers, 15 Biermann Avenue, Rosebank, Johannesburg, 2196 SPONSOR: Arbor Capital Sponsors 20 Stirrup Lane, Woodmead Office Park, Corner Woodmead Drive and Van Reenens Avenue, Woodmead, 2191 WEBSITE: www.spanjaard.biz Date: 07-07-2020 11:00:00 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.