Short-Form Announcement Of The Condensed Reviewed Six Months Financial Results Ended 31 August 2020 RH BOPHELO LIMITED Incorporated in the Republic of South Africa (Registration number: 2016/533398/06) JSE & RSE Share Code: RHB, ISIN: ZAE000244737 (“RHB” or “the Company”) SHORT-FORM ANNOUNCEMENT OF THE CONDENSED REVIEWED SIX MONTHS FINANCIAL RESULTS ENDED 31 AUGUST 2020 The Board of Directors ("the Board") of the Company is pleased to present the reviewed results for the six months ended 31 August 2020. FINANCIAL OVERVIEW The key financial indicators reflected in these financial results are: • Net asset value per share increased by 18%, current period R12,85 compared to prior period R10,86; • Net asset value increased by 30% when compared to the prior period, from of R583,6 million to R756,6 million; • Investment income increased by 160% when compared to the prior period, from R44,1 million to R114,8 million; • Total income before tax increased by 168% when compared to the prior period, from R38,4 million to R103 million; • Total income after tax increased by 161% when compared to the prior period, from R31 million to R81 million; and • No dividends were declared in the current and prior period. Aug-20 Aug-19* Feb-20 Reviewed Restated Audited R R R Investment income 114 859 350 44 169 598 105 386 661 Other Income 138 000 123 866 1 984 110 Total expenses (11 925 752) (5 837 152) (16 912 042) Total income before tax 103 071 598 38 456 312 90 458 729 Income tax (21 942 494) (7 432 262) (20 469 771) Total income after tax 81 129 104 31 024 050 69 988 958 Earnings per share Per share information Basic and Headline earnings per share (R) 2,79 1,20 1,31 Weighted average number of issued shares 29 067 120 25 759 713 53 592 090 Aug-20 Aug-19* Feb-20 Reviewed Restated Audited R R R Net Asset value 756 697 948 583 643 936 646 608 844 Cash and cash equivalents 44 164 704 265 094 836 120 069 140 Number of shares in issue 58 875 000 53 750 000 55 934 179 Tangible and Net Asset Value per share (R) 12,85 10,86 11,56 *Prior period has been restated due to a reclassification of accounts and amounts in the statement of profit or loss and other comprehensive, the statement of financial position and calculation of the weighted average numbers of issued shares from a 12month average to a 6month average. SHORT-FORM NOTICE This short-form announcement is the responsibility of the Directors of the Company. It is a summary of the full announcement released on SENS and published on the company’s website (https://www.rhbophelo.co.za/investment/investors) on 29 October 2020, and does not contain full or complete details. This announcement is itself not independently reviewed but extracted from independently reviewed results, on which Mazars has issued an unmodified review conclusion, supporting that there was no material uncertainty relating to the going concern assumption of the business. The results are available on the Company’s website: (https://www.rhbophelo.co.za/investment/investors). Any investment decisions by investors and/or shareholders should be based on consideration of the full announcement available on the Company’s website and SENS, the full announcement can be accessed using the following links: • company website (https://www.rhbophelo.co.za/investment/investors). • JSE Link: https://senspdf.jse.co.za/documents/2020/jse/isse/RHBE/Half2020.pdf The full announcement can be requested from the company secretary via an email (ragni@corporate-vision.co.za). On behalf of the Board Quinton Zunga CEO Dion Mhlaba CFO Johannesburg 29 October 2020 Registered Office Sponsor South Africa 3rd floor, 18 Melrose Boulevard Deloitte & Touche Sponsor Services Proprietary Melrose Arch, Melrose North Limited Johannesburg, 2076 South Africa Sponsor Rwanda Tel +27 (0) 10-007-2171 Faida Securities Rwanda Limited Email: invest@rhbophelo.co.za Auditors Mazars Directors 54 Glenhove Road Q Zunga (Chief executive officer) Melrose Estate KD Mhlaba (Chief financial officer) Johannesburg VP Nomvalo (Executive director) Gauteng C Clarke (Executive director) 2196 Dr. SG Motuba (Lead independent non-executive Director) Dr. KR Ntshwana (Independent non-executive Director) JR Oliphant (Non-executive chairman) Dr. PD Sekete (Non-executive Director) D Lerutla (Independent non-executive Director) B Segooa (Independent non-executive Director) R Nkadimeng (Independent non-executive Director) Company Secretary Corporate Vision Consulting Proprietary Limited Date: 29-10-2020 12:40:00 Produced by the JSE SENS Department. 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