MAHUBE INFRASTRUCTURE LIMITED - Interim Results for the Six Months Ended 31 August 2024 and Cash Dividend

Interim Results for the Six Months Ended 31 August 2024 and Cash Dividend

Mahube Infrastructure Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2015/115237/06)
ISIN: ZAE000290763
JSE code: MHB
("Mahube" or the "Company")

SHORT FORM ANNOUNCEMENT - INTERIM FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 31
AUGUST 2024 AND CASH DIVIDEND DECLARATION

Salient features:

• Dividends received decreased to R13.0 million in comparison to R23.0 million for the comparative
   period last year

• Basic earnings and headline earnings per share up to 67.6 cents per share compared to 47.8 cents
  for the comparative period last year

• Tangible NAV per share at R10.99 compared to R10.52 as at the February 2024 reporting period

• Interim dividend declaration of 20.00 cents per share

Investment portfolio
Mahube is an infrastructure company that offers investors exposure to infrastructure assets in
Southern Africa. The vision of Mahube is to stimulate fast, inexpensive and sustainable delivery and
upkeep of infrastructure on a significant scale. Mahube aims to provide investment returns that are
characterised by predictable and regular cash flows generated from infrastructure assets, long-term
investment into ownership and operation of assets, and blue-sky upside from providing disruptive
solutions to infrastructure-related market inefficiencies. Currently Mahube has invested in and holds
equity interests in two wind farms and three solar photovoltaic farms with a collective power
generation capacity of approximately 400 MW. Four of the renewable energy assets were licensed
during Bid Window Round 1 of the Renewable Energy Independent Power Procurement Programme
in South Africa. The fifth was licensed during Bid Window Round 2. Each asset generates electricity
that it sells to Eskom under a 20-year power purchase agreement.

Condensed Statement of Comprehensive Income for the six months ended 31 August 2024

                                                                                                     %
                                                        31 August 2024     31 August 2023       change

 Revenue (R'000)                                              44 936           33 326            35
 Net profit (R'000)                                           37 269           26 348            41
 Earnings and headline earnings per share (cents)             67.58            47.77             41
 Net asset value per share                                    10.99            10.39              6

Dividend distribution
The Board has pleasure in announcing that an interim gross dividend per ordinary share of 20.00000
cents, has been declared for the six months ended 31 August 2024.

Dividends are subject to Dividends Withholding Tax.
The payment date for the dividend is Monday, 13 January 2025.
• Dividends have been declared from income reserves.
• Local Dividends Withholding Tax rate is 20%.
• The gross dividend amount is 20.00000 cents per ordinary share.
• The net cash dividend amount is therefore 16.00000 cents per ordinary share.
• The Company has 55 151 000 ordinary shares in issue as at the declaration date.
• The Company's income tax reference number is 9473/844/17/4.

Salient dates for the dividend will be as follows:
                                                                                              2025
 
Last day to trade cum the ordinary share dividend                               Tuesday, 7 January

Ordinary shares commence trading ex-dividend                                   Wednesday, 8 January

Ordinary share dividend record date                                              Friday, 10 January
 
Payment date of ordinary share dividend                                          Monday, 13 January


Share certificates may not be dematerialised or rematerialised between Wednesday, 8 January 2025
and Friday, 10 January 2025.

Statement
This short form announcement is the responsibility of the Directors and is a summary of the
information contained in the full announcement and does not contain full or complete details.
Furthermore, this short-form results announcement has not been reviewed, audited or reported on
by Mahube's auditors but has been extracted from the interim condensed financial results for the six
months ended 31 August 2024.

Availability
Any investment decision should be based on the full announcement published on Mahube's
Website: https://mahube.africa/wp-content/uploads/2024/11/Mahube-interim-results-
booklet-2024.pdf
and
The JSE website: https://senspdf.jse.co.za/documents/2024/jse/isse/mhbe/mah2024.pdf

The full announcement is available for inspection, free of charge, during normal business hours at
Mahube's business address, 3rd Floor, Penthouse 5, 4 The High Street, Melrose Arch, 2196 or can
be requested by directing an e-mail to info@mahube.africa.

By order of the Board
29 November 2024

Sponsor
Questco Corporate Advisory Proprietary Limited

Date: 29-11-2024 12:50:00
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