MASTER DRILLING GROUP LIMITED - Trading Statement

Trading Statement

Master Drilling Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 2011/008265/06)
JSE share code: MDI
ISIN: ZAE000171948
("Master Drilling" or the "Company" or "Group")

Trading Statement

In terms of the Listings Requirements of the JSE Limited relating to trading statements, a listed company
is required to publish a trading statement as soon as it becomes reasonably certain that the financial
results for the next period to be reported on will differ by at least 20% from those of the corresponding
prior period.

Shareholders are advised that the Company's:

    -   Earnings per share ("EPS") for the year ended 31 December 2024 ("current period") in ZAR
        terms are expected to be between 199,60 and 224,70 cents per share compared to the EPS
        of 251,00 cents per share for the year ended 31 December 2023 ("comparative period"), which
        is between 20,5% and 10,5% lower than the EPS of the comparative period as reported in
        ZAR. These lower EPS for the current period were largely the result of non-cash adjustments
        (* refer note below) deemed appropriate in the current period results
    -   Headline earnings per share ("HEPS") for the current period in ZAR terms are expected to be
        between 311,60 and 338,40 cents per share compared to the HEPS of 267,70 cents per share
        for the comparative period, which is between 16,4% and 26,4% higher than the HEPS for the
        comparative period as reported in ZAR.

Shareholders are further advised that the Company's:

    -   EPS for the current period in USD terms are expected to be between 10.90 and 12.20 cents
        per share compared to the EPS of 13.60 cents per share for the comparative period, which is
        between 19.9% and 9.9% lower than the EPS in the comparative period as reported in USD.
        These lower EPS for the current period were largely the result of non-cash adjustments (* refer
        note below) deemed appropriate in the current period results
    -   HEPS for the current period in USD terms are expected to be between 17.00 and 18.50 cents
        per share compared to the HEPS of 14.50 cents per share for the comparative period, which
        is between 17.2% and 27.2% higher than the HEPS for the comparative period as reported in
        USD.

(*) Non-cash adjustments thus excluded from HEPS relate to the following two items:

The Reverse Circulation equipment in the Group's North and Central American operations is currently
not utilised due to a decline in the relevant market. The Group has therefore provided for impairment
losses on this equipment while it looks to market the equipment elsewhere in the world.

The Group has furthermore provided for an impairment loss on the Mobile Tunnelboring Machine as no
formal agreement is currently in place to project future cash flows.

The financial information on which this trading statement is based has not been reviewed or reported
on by the Company's auditors. Master Drilling's full year results are expected to be released on SENS
on or about Tuesday, 25 March 2025.

Fochville
18 March 2025

Sponsor
Investec Bank Limited

Date: 18-03-2025 03:30:00
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