TSOGO SUN LIMITED - Trading Statement for the six months ended 30 September 2023

Trading Statement for the six months ended 30 September 2023

Tsogo Sun Limited
Incorporated in the Republic of South Africa
(Registration number 1989/002108/06)
Share code: TSG
JSE Alpha Code: TSGI
ISIN: ZAE000273116
("Tsogo Sun" or "the group")

TRADING STATEMENT FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023

Shareholders and Noteholders are advised that Tsogo Sun is scheduled to release its financial results for
the six months ended 30 September 2023 on SENS on or about 28 November 2023. In terms of the Listings
Requirements of the JSE Limited, listed companies are required to publish a trading statement as soon as
they are satisfied that a reasonable degree of certainty exists that the financial results for the period to
be reported upon next will differ by at least 20% from those of the prior comparative period.

Shareholders and Noteholders are accordingly advised that a reasonable degree of certainty exists that
the group's:

- Earnings per share is expected to be a profit of between 83.5 cents per share and 87.5 cents per share,
  representing an increase of between 30% and 37% compared to the prior corresponding period's profit
  of 64.1 cents per share; and

- Headline earnings per share is expected to be a profit of between 83.0 cents per share and 87.5 cents
  per share, representing an increase of between 43% and 51% compared to the prior corresponding
  period's profit of 58.0 cents per share.

The hotel management contracts cancellation expense of R289 million, after tax and non-controlling
interests, had a negative impact on the prior period earnings and headline earnings per share, resulting
in the significant year-on-year movements.

The financial information on which this trading statement is based has not been reviewed and reported
on by Tsogo Sun's external auditors, Deloitte & Touche.

Fourways
14 November 2023

Equity Sponsor:
Investec Bank Limited

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

Date: 14-11-2023 02:11:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.