Trading Statement DENEB INVESTMENTS LIMITED Registration number: 2013/091290/06 (Incorporated in the Republic of South Africa) JSE share code: DNB ISIN: ZAE000197398 (“Deneb” or the “Group”) TRADING STATEMENT In terms of section 3.4 (b) of the JSE Limited Listings Requirements, a listed company is required to publish a trading statement as soon as it becomes reasonably certain that the financial results for the next period to be reported on will differ by 20% or more from the financial results for the previous corresponding period. The Company hereby advises that a reasonable degree of certainty exists that for the 6-month period ended 30 September 2020: - earnings per share is expected to range between 0.2 and 1.0 cents per share, compared to the loss per share of 3.54 cents reported for the 6-month period ended 30 September 2019; and - headline earnings per share is expected to range between 0.0 and 0.6 cents per share, compared to the headline loss per share of 3.60 cents reported for the 6-month period ended 30 September 2019. The financial information on which this trading statement is based has not been reviewed or reported upon by the Group's auditors. The Group's results for the period ended 30 September 2020 are scheduled to be published on or about 19 November 2020. Cape Town 13 November 2020 Sponsor PSG Capital Date: 13-11-2020 03:00:00 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.