Short Form Announcement - Reviewed Provisional Results for the Year Ended 31 August 2020 and Dividend Declaration African Equity Empowerment Investments Limited (Incorporated in the Republic of South Africa) Registration number 1996/006093/06 Share code: AEE and ISIN: ZAE000195731 (“AEEI” or “the Group” or “the Company”) SHORT FORM ANNOUNCEMENT - REVIEWED PROVISIONAL CONDENSED CONSOLIDATED ANNUAL RESULTS FOR THE YEAR ENDED 31 AUGUST 2020 AND FINAL DIVIDEND DECLARATION FINANCIAL HIGHLIGHTS 31 August 31 August % 2020 2019 Change R’000 R‘000 Revenue 3 427 579 2 377 368 44.18 Net cash generated from operating activities 199 642 143 144 39.47 Profit/(loss) before tax 111 155 (2 388 102) 104.65 Earnings per share (cents) 1.93 (304.09) 100.63 Headline earnings 4 554 494 317 (99.08) Headline earnings per share (cents) 0.93 100.64 (99.08) Normalised headline earnings* 174 832 585 615 (70.15) Normalised headline earnings per share (cents) 35.61 119.23 (70.15) Net asset value per share (cents) 1 256.46 1 304.16 (3.66) Total assets 7 211 679 7 454 311 (3.25) Gross final dividend (cents) 20 6 233.33 Final gross dividend to shareholders 98 204 29 461 233.33 Total gross dividend to shareholders (cents) 30 17 76.47 Total gross dividend to shareholders 147 307 83 474 76.47 *Normalised earnings were calculated as follows: 31 August 31 August 2020 2019 R’000 R’000 Headline earnings 4 554 494 317 Fair value adjustments 108 558 14 513 Deferred tax on fair value adjustments (24 317) (3 251) Net impairments, impairment reversals and write-offs 86 037 80 036 Normalised headline earnings 174 832 585 615 DECLARATION OF CASH DIVIDEND R’000 Dividend declared after reporting date 98 204 Gross Dividends per share (cents) 20 Notice is hereby given that a final gross dividend of 20 cents per share has been declared out of income reserves in respect of ordinary shares of no-par value for the year ended 31 August 2020. The final dividend amount, net of South African dividend tax of 20% which equates to 4 cents per share, is therefore 16 cents per share for those shareholders that are not exempt from dividend tax. The number of ordinary shares in issue at declaration date is 491 022 434 and the income tax number of the Company is 9 314 001 034. The salient dates of this dividend distribution are: Gross dividend per share (cents) 20 Dividend net of dividend withholding tax (cents) 16 Last day to trade cum dividend Monday, 14 December 2020 Trading ex-dividend commences Tuesday, 15 December 2020 Record date Friday, 18 December 2020 Date of payment Monday, 21 December 2020 Share certificates may not be dematerialised or rematerialized between Tuesday, 15 December 2020 and Friday, 18 December 2020, both days inclusive. STATEMENT OF COMPLIANCE AND BASIS OF PREPARATION This short-form announcement contains only a summary of the information in the full announcement and does not contain the full and complete details and is the responsibility of the directors. The condensed consolidated financial statements were reviewed by Crowe JHB and THAWT Inc. whose unmodified review opinion has been issued on the reviewed provisional condensed consolidated financial statements for the financial year ended 31 August 2020. Shareholders are hereby advised that AEEI’s reviewed provisional condensed consolidated results for the year ended 31 August 2020 are available on AEEI’s website and can be viewed at https://senspdf.jse.co.za/documents/2020/jse/isse/aee/SENS LF.PDF or may be requested from the company via damien@aeei.co.za or obtained in person, at no charge, at the registered office of the company or the offices of the joint sponsors during business hours. Any investment decisions by investors and/or shareholders should be based on consideration of the full announcement. APPRECIATION We wish to thank our employees, Group executives, management, our Board of directors as well as our strategic partners, stakeholders and business partners for their loyalty and dedication in contributing to the success of the Group. Mrs Aziza Amod Mrs Valentine Dzvova Non-executive chairperson Chief executive officer 25 November 2020 DIRECTORATE AND STATUTORY INFORMATION Directors * Valentine Dzvova (chief executive officer); Aziza Amod (Non-executive chairman); *Jowayne Van Wyk (chief financial officer); Ismet Amod; Gaamiem Colbie; Willem Raubenheimer; Bongikhaya Qama *Executive directors Company Secretary: Damien Terblanche Email: damien@aeei.co.za Business address: 1st Floor, Waterway House North, 3 Dock Road, Victoria and Alfred Waterfront, Cape Town, Western Cape, 8001 Transfer secretaries: Link Market Services South Africa Proprietary Limited, Rennie House, 13th Floor, 19 Ameshoff Street, Braamfontein, 2001 Joint Auditors: Crowe JHB 3 Sandown Valley Crescent, Sandown, Johannesburg, 2196 Thawt Inc. 3 Monte Vista Blvd, Monte Vista, Cape Town, 7460 Joint Sponsors: Vunani Sponsors Vunani House, Vunani Office Park, 151 Katherine Street, Sandown, Johannesburg, 2196 Merchantec Capital 13th Floor, lllovo Point, 68 Melville Road, lllovo, 2196 Date: 25-11-2020 05:46:00 Produced by the JSE SENS Department. 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