Trading Statement ISA Holdings Limited Incorporated in the Republic of South Africa (Registration number 1998/009608/06) Share code: ISA ISIN: ZAE000067344 (“ISA” or “the Company”) TRADING STATEMENT In terms of the Listings Requirements of JSE Limited, companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the period to be reported on will differ by more than 20% from that of the previous corresponding period. Accordingly, a review of the financial results for the six-month period ended 31 August 2020 by management has indicated that the earnings per share and headline earnings per share are expected to be between 4.12 cents and 5.88 cents, reflecting a decrease of between 53.2% and 33.2% compared to the earnings per share and headline earnings per share of 8.8 cents for the six-month period ended 31 August 2019. The financial information on which this trading statement is based has not been reviewed or reported on by the Company’s auditors. ISA's interim financial results are expected to be released on SENS on or about 13 November 2020. Johannesburg 14 September 2020 Designated Adviser Merchantec Capital Date: 14-09-2020 12:36:00 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.