THE SOUTH AFRICAN NATIONAL ROADS AGENCY SOC LIMITED - SANRAL-Availability of Annual Financial Statements

SANRAL-Availability of Annual Financial Statements

The South African National Roads Agency SOC Limited
Incorporated in the Republic of South Africa
(Registration number 1998/009584/30)
Alpha code: BINRA
("SANRAL" or the "Company")


NOTICE OF AVAILABILITY OF ANNUAL FINANCIAL STATEMENTS


SANRAL hereby notifies its debt investors that it has publicly released its Integrated Report 2024,
incorporating the audited annual financial statements ("AFS") for the year ended 31 March 2024.

SANRAL has already informed the debt holders about the change of reporting framework from
International Financial Reporting Standards (IFRS) to General Recognised Accounting Practice
(GRAP) in line with Directive 12 titled "The Selection of an Appropriate Reporting Framework by
Public Entities" (the "Directive") issued by the Accounting Standards Board, refer to SENS dated 25
April 2024. The change in reporting framework from IFRS to GRAP has resulted in prior year being
restated.

The Auditor-General of South Africa, being the auditor of SANRAL, has issued an unqualified audit
report and has concluded that SANRAL's financial statements present fairly, in all material respects,
the financial position of the Company as at 31 March 2024.

In addition, the following matters were raised in the audit report and the auditors' opinion was not
modified in respect of these matters:

an emphasis of matter relating to (i) material impairments of R28,7 billion which were recognised as a
result of expected credit losses, attributable mainly to e-toll debtors and (ii) irregular expenditure of
R479,8 million incurred as a result of non-compliance with procurement regulations; and (iii) prior year
error relating to depreciation of intangible assets amounting to R222 000.

The Integrated Report 2024, incorporating the AFS and the audit report, are available on SANRAL's
website at https://www.nra.co.za/integrated-report?region_id=national and for inspection at SANRAL's
registered office.


11 October 2024

Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 11-10-2024 01:48:00
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