TREMATON CAPITAL INVESTMENTS LIMITED - Trading Statement for the Six Months Ended 28 February 2025

Trading Statement for the Six Months Ended 28 February 2025

Trematon Capital Investments Limited
(Incorporated in the Republic of South Africa)
Registration number 1997/008691/06
Share code: TMT
ISIN: ZAE000013991
("Trematon" or "the Trematon group")

TRADING STATEMENT FOR THE SIX MONTHS ENDED 28 FEBRUARY 2025

In terms of the Listing Requirements of the JSE Limited ("Listings
Requirements"), a listed company is required to publish a trading
statement as soon as it becomes satisfied that a reasonable degree of
certainty exists that the financial results for the period to be
reported on next will differ by at least 20% from those of the previous
corresponding period.

Shareholders are hereby advised that the Trematon group is currently
finalising its interim financial results for the period ended 28
February 2025.

Trematon is an investment holding company and uses earnings, headline
earnings and the intrinsic value model to provide management and
investors with a realistic and transparent way of evaluating
Trematon's performance. Trematon's earnings and headline earnings are
inherently volatile and do not provide an accurate indication of the
operations of the Trematon group. Management considers the intrinsic
net asset value ("INAV") to be the most important financial measure
of value for shareholders. The INAV is compiled using a combination
of listed market prices, external professional valuations and/or
directors valuations, where applicable and reflects the realisable
value of the company based on an efficient disposal of the assets.

During the six months ended 28 February 2025 ("current      period"),
Trematon disposed of its interest in Aria Property Group Proprietary
Limited ("Aria"), a 60% held subsidiary of the group. The results for
the current period therefore include Aria for a period of 4-months.

The Trematon group expects:


  •   basic loss per share for the current period to be between 10.5
      cents and 12.5 cents as compared to basic earnings of 3.7 cents
      for the previous comparable interim period ended 29 February
      2024 (" previous interim period");
  •   headline earnings per share for the current period to be between
      2.7 cents and 3.0 cents which is between 25% and 17% lower than
      headline earnings of 3.6 cents for the previous interim period;
  •   net asset value ("NAV") per share for the current period to be
      between 286 cents and 290 cents, which is between 16% and 14%
      lower than the previous interim period's 339 cents; and
  •   INAV per share for the current period to be between 335 cents
      and 345 cents, which is between 18% and 15% lower than the
      previous interim period's 408 cents.

Further details will be provided in the Trematon group interim results
for the period ended February 2025, due to be published on SENS on or
about 10 April 2025.

The financial information on which this trading statement is based
has not been reviewed or reported on by the Trematon group's auditors
in accordance with either 3.4b(viii)(1)(aa) or 3.4b(viii)(1)(bb) of
the Listings Requirements.

Cape Town
7 April 2025

JSE Sponsor
Questco Corporate Advisory

Date: 07-04-2025 01:00:00
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