Unaudited Interim Results for the six months ended 30 September 2020 African Media Entertainment Limited Registration number 1926/008797/06 JSE code: AME ISIN: ZAE 000055802 AFRICAN MEDIA ENTERTAINMENT UNAUDITED INTERIM RESULTS for the six months ended 30 September 2020 African Media Entertainment Limited, a broadcast company listed in the Media and Entertainment sector of the Johannesburg Stock Exchange, with a radio footprint across central South Africa and the Eastern Cape, released its results for the six months ended 30 September 2020. Revenue Down (31)% at R90,7 million Operating profit before depreciation Down (58)% to R7,9 million Profit attributable to equity holders Up R6,5 million loss to R518 000 profit Headline earnings Down (94)% to R519 000 EPS Up 108% to 6,5 cents HEPS Down (94)% to 6,6 cents During the period under review, revenue from continuing operations declined significantly as a result of the devastating effect of the COVID-19 pandemic on the world economy and the media industry. Profit attributable to equity holders increased from a loss of R6,5 million to a profit of R518 000. The loss in the prior year is mainly as a result of the deconsolidation of Classic FM South Africa t/a Classic 1027 from the group and the resultant loss incurred from the deemed disposal of the station. Headline earnings declined by 94% from R11 million to R519 000 and headline earnings per share decreased by 94% from 109 cents to 6,6 cents which arose from substantially diminished advertising revenue due to the COVID-19 pandemic. This short-form announcement is the responsibility of the board of directors. The short-form announcement is only a summary of the information in the full announcement released on SENS on 24 November 2020 and does not include full or complete details. The information contained in this announcement has not been reviewed or reported on by the company's auditors. The full announcement can be found on the company's website at www.ame.co.za and can also be accessed using the following JSE link: https://senspdf.jse.co.za/documents/2020/JSE/ISSE/AME/AMEIR2020.pdf Copies of the full announcement may also be requested at the company's registered office, at no charge, during office hours. Any investment decision should be based on the full announcement published on SENS and on the company's website. In line with the company's dividend policy, African Media Entertainment Limited has not declared an interim dividend. The condensed unaudited consolidated interim financial statements for the six months ended 30 September 2020 have not been reviewed and reported on by the group's external auditors, BDO South Africa Incorporated. By order of the board ACG Molusi AJ Isbister Independent Non-executive Chairman Financial director 24 November 2020 Directors Independent non-executive directors: ACG Molusi (Chairman) J Edwards MJ Prinsloo N Sooka KW Thipe Executive directors: DM Tiltmann (Chief Executive) AJ Isbister (Financial director) Company secretary C Roberts Registered office Block A, Oxford Office Park No. 5, 8th Street Houghton Estate Johannesburg, 2198 (PO Box 3014, Houghton, 2041) Sponsor AcaciaCap Advisors (Proprietary) Limited Transfer secretary Computershare Investor Services (Proprietary) Limited Auditors BDO South Africa Incorporated www.ame.co.za Date: 24-11-2020 04:45:00 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.