Trading Statement EFORA ENERGY LIMITED (Incorporated in the Republic of South Africa) (Registration number 1993/000460/06) JSE Share Code: EEL ISIN: ZAE000248258 (“Efora” or “the Company”) TRADING STATEMENT In terms of the JSE Limited Listings Requirements, 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 20% or more from the financial results for the previous corresponding period. Shareholders are hereby advised that a reasonable degree of certainty exists that for the six months ended 31 August 2020 the basic loss per share will be between 38.36 cents per share and 38.52 cents per share compared to basic earnings per share of 0.83 cents per share for the six months ended 31 August 2019. The basic headline loss per share is expected to be between 25.00 cents per share and 25.17 cents per share compared to basic headline earnings per share of 0.85 cents per share for the six months ended 31 August 2019. The performance of the Group for the six months ended 31 August 2020 was affected by the following: • The negative impact of developments with Covid-19 on the Group’s fuel distribution operations which resulted in a decrease of the gross margin contribution by R13.8 million; and • Impairments totalling R438.9 million of financial assets and non-financial assets due to the following factors: o Expiry of the exploration licence for Block III in the DRC; o Impact of the settlement agreement concluded with Transnational Corporation of Nigeria; o Impact of the deferred payment plan agreed with Encha Group Limited; and o The underperformance of the Mena oil and gas assets. Excluding the impact of these impairments, the Group generated a loss of R1.2 million (August 2019: profit of R2.7 million). The financial information on which this trading statement is based has not been reviewed or reported on by the auditor of the Company. The results for the six months ended 31 August 2020 are expected to be published on or about 6 December 2021. Johannesburg 2 December 2021 Sponsor PSG Capital For further information please contact: Efora Energy Limited Darrin Arendse +27 (0)10 591 2260 Date: 02-12-2021 10:20:00 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.