Trading Statement in respect of the half year ended 31 March 2024 Transaction Capital Limited TransCapital Investments Limited (Incorporated in the Republic of South Africa) (Incorporated in the Republic of South Africa) Registration number: 2002/031730/06 Registration number: 2016/130129/06 JSE share code: TCP Bond company code: TCII ISIN: ZAE000167391 LEI: 378900AA31160C6B8195 ("Transaction Capital" or "the company" or "the group") TRADING STATEMENT IN RESPECT OF THE HALF YEAR ENDED 31 MARCH 2024 Trading Update The key highlight of the half year ended 31 March 2024 ("H1 2024") was the successful unbundling, placement and separate listing of WeBuyCars on the main board of the JSE Limited ("JSE"). This allowed Transaction Capital to return R5.2 billion to shareholders through the distribution of 256.3 million WeBuyCars shares. The group further raised R1.0 billion via the placement which allowed Transaction Capital to materially pay down its debt (shortly after the H1 2024 period) and move to a net cash position at a holding company level. In H1 2024, Mobalyz made a core loss from continuing operations driven primarily by the reduction of the absconsion, violation and credit shortfall cover (AVCS) in SA Taxi's insurance business, which has resulted in a once-off net loss of R966 million. SA Taxi, together with the funders, elected to materially reduce this cover, resulting in an accelerated impairment charge. Despite the adverse impact that this decision has had on the period's earnings, it is necessary to create a sustainable insurance business, which has now been achieved. As a result of the fact that SA Taxi has not yet achieved a balance sheet restructure, the business is currently being managed with a priority on preserving and generating cash as opposed to optimising profit. As such, commercial decisions that prioritise cash generation are being executed at the expense of profitability. This approach has the support of the funders. These losses incurred at SA Taxi, its subsidiaries and funding entities, while consolidated in accordance with IFRS at a group level, are not funded by Transaction Capital nor do they impact the equity of Transaction Capital at a holding company level. As a consequence of the corporate activities in H1 2024, Transaction Capital has achieved its objective of becoming an unencumbered investment holding company with two assets: 100% of Nutun and 75% of Mobalyz (written down to zero) with net cash of approximately R120 million. Trading Statement In accordance with the Listings Requirements of the JSE, Transaction Capital advises shareholders of the following expected ranges for H1 2024: Half year ended Half year ended Half year ended 31 March 2024 31 March 2024 31 March 2023 Expected Expected Actual number range percentage range restated(1) Continuing earnings(2) Basic loss -R1 287m to -R1 457m -25% to -15% -R1 706m Basic loss per share -167.2 cents to -189.2 cents -26% to -16% -224.9 cents Headline loss -R1 184m to -R1 354m -31% to -21% -R1 704m Headline loss per share -153.8 cents to -175.8 cents -32% to -22% -224.6 cents Core loss(3) -R1 427m to -R1 451m >100% -R1m Core loss per share(3) -185.4 cents to -188.6 cents >100% -0.1 cents Total earnings Basic loss -R1 289m to -R1 458m -23% to -13% -R1 684m Basic loss per share -167.5 cents to -189.3 cents -25% to -15% -222.0 cents Headline loss -R1 242m to -R1 412m -26% to -16% -R1 686m Headline loss per share -161.5 cents to -183.4 cents -27% to -17% -222.3 cents Core earnings/loss(3) -R1 083m to -R1 107m >100% R242m Core earnings/loss per share(3) -140.5 cents to -143.7 cents >100% 31.9 cents 1. Comparative information for 31 March 2023 has been restated for the correction of the Nutun CX put option liability, reversal of the discontinued operations related to the SA Taxi auto refurbishment and repair business due to the reversal of the decision to sell and the classification of WeBuyCars, Nutun Australia and Nutun Transact as discontinued operations. 2. Earnings/loss from continuing operations exclude results from discontinued operations. 3. Core earnings from continuing operations is a non-IFRS measure which is calculated by adjusting headline earnings with the following: - Once-off transaction costs which are directly attributable to corporate activity (which comprises mostly legal and consulting fees). - Adjustments on put and call options over non-controlling interests. - Once-off or accelerated items, where these are reasonably expected not to re-occur in the ordinary course of business in future reporting periods. - Adding back specified headline earnings exclusions, if the gain/loss is considered part of Transaction Capital's normal operations. Results Announcement Transaction Capital's results for the half year ended 31 March 2024 will be released on SENS on Tuesday, 21 May 2024. Shareholders may register on the link below for the live results webcast: Early Registration | Interim results 2024 (themediaframe.com) A replay will be available shortly after the end of the call on the Transaction Capital website: https://www.transactioncapital.co.za/investor-relations-overview/transaction-capital-limited/ Sandton 14 May 2024 Enquiries: Nomonde Xulu - Investor Relations Email: nomondex@transactioncapital.co.za JSE sponsor: Investec Bank Limited JSE debt sponsor: Rand Merchant Bank (a division of FirstRand Bank Limited) Date: 14-05-2024 03:30:00 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.