REMGRO LIMITED - Trading statement

Trading statement

Remgro Limited
(Incorporated in the Republic of South Africa)
(Registration number 1968/006415/06)
ISIN: ZAE000026480
Share code: REM
(“Remgro” or “the Company”)

TRADING STATEMENT

Paragraph 3.4 (b) of the Listings Requirements of the JSE Limited (“JSE Listings Requirements”)
requires companies to publish a trading statement as soon as they become reasonably certain that their
financial results for the period to be reported upon next, will differ by at least 20% from those of the
previous corresponding period.

Remgro’s results for the year ended 30 June 2020 are due to be released on the Stock Exchange News
Service on or about 28 September 2020. As a result of the unbundling of Remgro’s 28.2% interest in
RMB Holdings Limited (“RMH”), headline earnings is also presented for continuing operations and
discontinued operations. The investment in RMH is treated as a discontinued operation and
accordingly, discontinued operations include the equity accounted income of RMH. For the year
under review the investment in RMH was equity accounted for the nine months to 31 March 2020
(2019: twelve months to 30 June 2019).

In compliance with the JSE Listings Requirements, the following guidance is provided to Remgro
shareholders regarding the expected outcome for the year ended 30 June 2020:

                                                      Year ended       Guidance for the year ended
                                                    30 June 2019              30 June 2020
                                                          (cents)      Decrease        Range (cents)
 Total headline earnings per share                       1 448.9       55% - 65%       507.1 – 652.0
 Headline earnings per share from continuing
 operations                                                981.4       65% - 75%        245.4 – 343.5

The decrease in headline earnings from continuing operations is mainly due to the negative impact
that the Covid-19 pandemic and the resultant lockdown measures had on the earnings of most of
Remgro’s underlying investee companies.

The financial information on which this trading statement is based has not been reviewed and reported
on by the Company’s external auditors.

Stellenbosch
15 September 2020

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 15-09-2020 08:00:00
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