Trading Statement Mahube Infrastructure Limited (Incorporated in the Republic of South Africa) (Registration number: 2015/115237/06) ISIN: ZAE000290763 JSE code: MHB (“Mahube” or the “Company”) TRADING STATEMENT In terms of paragraph 3.4(b)(i) of the JSE Limited Listings Requirements, Mahube's shareholders are hereby advised that the Company and its directors have reasonable certainty that for the period ended 28 February 2022 earnings and headline earnings per share are expected to be between 117.85 cents and 120.02 cents per share, compared to earnings and headline earnings per share of 21.71 cents per share reported for the previous comparable period ended 28 February 2021. The expected increase in earnings is mainly a result of the favourable fair value adjustment of the investments held by the Company, as well as the impact of the once-off R18.0 million fee, incurred for the termination of the management services agreement, on the results for the previous comparable period. The financial information in this trading statement has not been reviewed and reported on by the auditors of the Company. Mahube’s financial results for the year ended 28 February 2022 will be published on or about 31 May 2022. 26 May 2022 JSE Sponsor to Mahube Questco Corporate Advisory Proprietary Limited Date: 26-05-2022 11:15:00 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.