Trading Statement for the year ended 31 August 2023 Trematon Capital Investments Limited (Incorporated in the Republic of South Africa) Registration number 1997/008691/06 Share code: TMT ISIN: ZAE000013991 ("Trematon" or "the Trematon group") TRADING STATEMENT FOR THE YEAR ENDED 31 AUGUST 2023 In terms of the Listing Requirements of the JSE Limited ("Listings Requirements"), a listed company is required to publish a trading statement as soon as it becomes satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported on next will differ by at least 20% from those of the previous corresponding period. Shareholders are hereby advised that the Trematon group is currently finalising its annual financial results for the year ended 31 August 2023. Trematon is an investment holding company and uses earnings, headline earnings and the intrinsic value model to provide management and investors with a realistic and transparent way of evaluating Trematon's performance. Trematon's earnings and headline earnings are inherently volatile and do not provide an accurate indication of the operations of the Trematon group. Management considers the intrinsic net asset value ("INAV") to be the most important financial measure of value for shareholders. The INAV is compiled using a combination of listed market prices, external professional valuations and/or directors valuations, where applicable and reflects the realisable value of the company based on an efficient disposal of the assets. The Trematon group expects: • basic earnings per share for the year ended 31 August 2023 to be between 31.5 cents and 32.0 cents as compared to basic earnings of 8.3 cents for the year ended 31 August 2022 ("previous comparable period"); • headline earnings per share for the year ended 31 August 2023 is expected to be between 3.5 cents and 3.8 cents as compared to headline earnings of 8.7 cents in the previous comparable period; • net asset value ("NAV") per share for the year ended 31 August 2023 to be between 365 cents and 370, which is between 1% and 0% lower than the previous comparable period's 370 cents; and • INAV per share for the year ended 31 August 2023 to be between 435 cents and 440 cents, which is between 11% and 10% lower than the previous comparable period's 487 cents. Further details will be provided in the Trematon group results for the year ended 31 August 2023, due to be published on SENS on or about 23 November 2023. The financial information on which this trading statement is based has not been reviewed or reported on by the Trematon group's auditors in accordance with either 3.4b(viii)(1)(aa) or 3.4b(viii)(1)(bb) of the Listings Requirements. Cape Town 14 November 2023 JSE Sponsor Questco Corporate Advisory Proprietary Limited Date: 14-11-2023 04:00:00 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.