FRONTIER TRANSPORT HOLDINGS LIMITED - Reviewed Consolidated Results for the year ended 31 March 2024 and Declaration of Cash Dividend

Reviewed Consolidated Results for the year ended 31 March 2024 and Declaration of Cash Dividend

FRONTIER TRANSPORT HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 2015/250356/06
Share code: FTH
ISIN: ZAE000300505
("Frontier" or the "Company")

REVIEWED CONDENSED CONSOLIDATED RESULTS FOR THE YEAR ENDED 31 MARCH 2024 AND
DECLARATION OF ORDINARY CASH DIVIDEND TO SHAREHOLDERS

FINANCIAL HIGHLIGHTS

 -   Revenue: R2 605.820m, up 8.9% (March 2023: R2 393.841m)
 -   Headline earnings per share: 132.40 cents, up 37.8% (March 2023: 96.07 cents)
 -   Earnings per share: 134.01 cents, up 40.3% (March 2023: 95.55 cents)
 -   Net asset value: R1 381.031m, down 10.7% (March 2023: R1 546.627m)
 -   Ordinary cash dividends: 48.4 cents (March 2023: 57 cents)
 -   Special cash dividends: 137.38 cents (March 2023: nil)

The condensed consolidated financial statements for the year ended 31 March 2024 have been
reviewed by BDO South Africa Incorporated, who expressed an unmodified review conclusion. The
auditor's report does not necessarily report on all the information contained in the financial results.
Any reference to future financial performance included in this announcement has not been reviewed
nor reported on.

This short-form announcement is the responsibility of the directors. It is only a summary of the
information contained in the full announcement and does not contain full or complete details. Any
investment decision should be based on the full announcement, which can be accessed from
Thursday, 23 May 2024, via the JSE link and also available on the Company's website at
www.frontiertransport.co.za

Copies of the full announcement may also be requested at the Company's registered office during
office hours, at no charge.

The JSE link is as follows: https://senspdf.jse.co.za/documents/2024/jse/isse/FTHE/YE24.pdf

DECLARATION OF ORDINARY CASH DIVIDEND TO SHAREHOLDERS

The directors have approved and declared a final ordinary dividend of 24.2 cents (gross) per Frontier
share for the year ended 31 March 2024 from income reserves (2023: 35 cents (gross)).
The salient dates for the payment of this dividend are as follows:

Last day to trade cum dividend                                              Tuesday, 11 June 2024
Commence trading ex-dividend                                              Wednesday, 12 June 2024
Record date                                                                  Friday, 14 June 2024
Payment date                                                                Tuesday, 18 June 2024

Share certificates may not be dematerialised or rematerialised between Wednesday, 12 June 2024,
and Friday, 14 June 2024, both days inclusive.

In terms of legislation applicable to Dividends Tax ("DT") the following additional information is
disclosed:

    -   The final ordinary dividend shall constitute a "dividend" as defined in the Income Tax Act, 58
        of 1962.
    -   The local DT rate is 20%.
    -   The number of ordinary shares in issue at the date of the declaration is 291 180 254.
    -   The DT amounts to 4.84000 cents per share for the final ordinary dividend.
    -   The net local dividend amount is 19.36000 cents per share for the final ordinary dividend for
        all shareholders who are not exempt from the DT.
    -   Frontier's income tax reference number is 9754/276/16/1.

In terms of DT legislation, any DT amount due will be withheld and paid over to the South African
Revenue Service by a nominee company, stockbroker or Central Securities Depository Participant
(collectively "regulated intermediary") on behalf of shareholders. All shareholders should declare their
status to their regulated intermediary as they may qualify for a reduced DT rate or exemption.


Cape Town
23 May 2024

Sponsor
Investec Bank Limited

Date: 23-05-2024 05:11:00
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