SOUTH OCEAN HOLDINGS LIMITED - Restatement of Earnings and Headline Earnings Per Share for the Interim Period Ended 30 June 2025 and the Year Ended

Restatement of Earnings and Headline Earnings Per Share for the Interim Period Ended 30 June 2025 and the Year Ended

South Ocean Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2007/002381/06)
Share code: SOH      ISIN: ZAE000092748
("the Company")

RESTATEMENT OF EARNINGS AND HEADLINE EARNINGS PER SHARE FOR THE INTERIM
PERIOD ENDED 30 JUNE 2025 AND YEAR ENDED 31 DECEMBER 2024

Shareholders are advised that the Board has identified that the "Total comprehensive
income for the year" was incorrectly used for the computation of earnings per share and
headline earnings per share, as opposed to the "Total comprehensive income
attributable to equity holders of the parent."

This resulted in an understatement of earnings per share and headline earnings per share.
The corrections are outlined in the table below:

Interim period ended 30 June 2025:

Restatement                                                Restated     Previously stated
Basic and diluted loss ('000)                              (18 915)              (30 831)
Headline loss ('000)                                       (18 915)              (30 831)
Basic and diluted loss per share (cents)                     (9.31)               (15.20)
Headline loss per share (cents)                              (9.31)               (15.20)

Year ended 31 December 2024:

Restatement                                               Restated     Previously stated
Basic and diluted earnings ('000)                           46 018                33 873
Headline earnings ('000)                                    45 857                33 712
Basic and diluted earnings per share (cents)                 22.64                 16.67
Headline earnings per share (cents)                          22.56                 16.59

In the prior year ended 31 December 2023 there was no difference as the Group did not
have any minority interests.

By Order of the Board
3 March 2026

SPONSOR
AcaciaCap Advisors Proprietary Limited

Date: 03-03-2026 05:15:00
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.