REMGRO LIMITED - Trading statement for the six months ended 31 December 2024 and restatement of the comparative period

Trading statement for the six months ended 31 December 2024 and restatement of the comparative period

Remgro Limited
(Incorporated in the Republic of South Africa)
(Registration number 1968/006415/06)
ISIN: ZAE000026480
JSE and A2X Share code: REM
("Remgro" or "the Company")

TRADING STATEMENT FOR THE SIX MONTHS ENDED 31 DECEMBER 2024 AND
RESTATEMENT OF THE COMPARATIVE PERIOD

TRADING STATEMENT FOR THE SIX MONTHS ENDED 31 DECEMBER 2024
Paragraph 3.4 (b) of the Listings Requirements of the JSE Limited requires companies to publish a trading
statement as soon as they become reasonably certain that their financial results for the period to be reported upon
next will differ by at least 20% from those of the previous corresponding period. Remgro's results for the six
months ended 31 December 2024 ("current period") are due to be released on the Stock Exchange News Service
("SENS") on or about 25 March 2025.

Shareholders are advised that Remgro's headline earnings per share ("HEPS") for the current period is expected
to be between 645 cents and 694 cents compared to the restated HEPS of 485 cents for the comparative six months
ended 31 December 2023 ("comparative period"), an expected increase of between 33% and 43%.

The increase in headline earnings is driven by improved operational performances from the majority of Remgro's
investee companies, lower finance costs, as well as the negative impact of significant corporate actions in the
comparative period. More detail to unpack the increase in headline earnings will be provided in the Remgro results
due to be released on SENS on or about 25 March 2025.

RESTATEMENT OF THE COMPARATIVE PERIOD
During the finalisation of TotalEnergies Marketing South Africa Proprietary Limited's (TotalEnergies) annual
financial statements for its year ended 31 December 2023, it was determined that the fair value of its disposal
group, being mainly its investment in Natref, was initially incorrectly accounted for. This error led to a higher
write-down of the affected net assets in TotalEnergies, mainly relating to its portion of Natref's stock, for its six
months ended 31 December 2023 and consequently in Remgro's results for the comparative period. Accordingly,
TotalEnergies' contribution to Remgro's earnings for the comparative period was understated by Remgro's
portion of this incorrect write-down.

The impact of this adjustment on Remgro's HEPS for the comparative period is an increase from the previously
reported 381 cents per share to a restated 485 cents per share. Further detail will be disclosed in Remgro's results
due to be released on SENS on or about 25 March 2025.

Shareholders are reminded that Remgro utilises HEPS only as the relevant criteria for trading statement purposes,
pursuant to paragraph 3.4(b)(vi) of the Listings Requirements.

The financial information on which this trading statement is based has neither been reviewed nor reported on by
the Company's external auditors.

Stellenbosch
18 March 2025

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 18-03-2025 07:05:00
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