TRENCOR LIMITED - Audited Consolidated and Separate Financial Statements for the year ended 31 December 2024

Audited Consolidated and Separate Financial Statements for the year ended 31 December 2024

TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor" or "the Company")

AUDITED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Trencor is a cash company and is in the process of distributing its available cash resources to
shareholders. Such distribution or distributions will take account of the settlement of its actual
and potential expenses still to be incurred during its winding up process, pending its ultimate
liquidation.

This short form announcement is the responsibility of the directors and represents a summary
of the information contained in the audited consolidated and separate annual financial
statements for the year ended 31 December 2024, which are available on the Company's
website https://www.trencor.net/financial-reports/2024-reports/ and
https://senspdf.jse.co.za/documents/2025/JSE/ISSE/TRE/YEres24.pdf

The Company's independent auditor, KPMG Inc., has issued an unmodified audit opinion with
an emphasis of matter related to the intention to voluntary wind up and liquidate the group and
company. The audit report accompanies the audited consolidated and separate financial
statements for the year ended 31 December 2024.

Any investment decisions by shareholders and other investors should be based on consideration
of the audited consolidated and separate financial statements for the year ended 31 December
2024.

CONSOLIDATED FINANCIAL SUMMARY

                                                                                 2024       2023
 Operating profit before finance income                               Rm          509         87
 Profit before tax                                                    Rm          593        165
 Basic and diluted earnings per share                              Cents        327,4       71,5
 Headline earnings                                                    Rm           53        124
 Headline earnings per share                                       Cents         30,6       71,5
 Consolidated net asset value per share                            Cents          843        813

Included in operating profit before finance income and profit before tax is an amount of R515
million relating to the recycling of the accumulated foreign currency translation reserve from
other comprehensive income to profit or loss on the dissolution of TAC Limited.

DIVIDENDS

On 28 January 2025 the board declared a special cash dividend of 730 cents per share
amounting to R1,267 billion.

No dividends were declared in respect of 2024 (2023: nil).

On behalf of the board
Ric Sieni
Chief Executive Officer and Financial Director

25 March 2025

Sponsor: Investec Bank Limited

Date: 25-03-2025 03:30:00
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.