SOUTHERN SUN LIMITED - Reviewed condensed consolidated financial statements for the year ended 31 March 2026 and cash dividend declaration

Reviewed condensed consolidated financial statements for the year ended 31 March 2026 and cash dividend declaration

Southern Sun Limited
Incorporated in the Republic of South Africa
Registration number 2002/006356/06 
Share code: SSU
ISIN: ZAE000272522
(Southern Sun or the company or the group)

Reviewed condensed consolidated financial statements for the year ended 31 March 2026 and cash dividend declaration

- Income: up by 9% to R7.2 Billion
- Occupancy up 2.1pp to 62.9%
- Ebitdar up 12% to R2.4 billion
- Adjusted headline earnings per share up 19% to 90.1 cents
- Dividend up 20% to 30.0 cents per share

Supplementary information
                                                            2026         2025           % 
                                                        Reviewed      Audited      change 
Income (Rm)                                                7 190        6 609           9 
Ebitdar (Rm)                                               2 433        2 169          12 
Attributable earnings for the period (Rm)                  1 237        1 024          21 
Adjusted headline earnings for the period (Rm)             1 209        1 014          19 
Basic earnings per share (cents)                            92.2         76.4          21 
Basic headline earnings per share (cents)                   90.1         74.8          20 
Basic adjusted headline earnings per share (cents)          90.1         75.6          19 

The group delivered a strong performance in the 2026 financial year. Trading momentum increased in the second half of
the year, with broad-based improvements across all regions underpinned by major international conferences and events
including the G20 in Gauteng and improved transient demand in South Africa. Offshore hotels benefited in the second 
half of the year with the successful reopening of Paradise Sun, which experienced strong demand until the impact of 
the Middle East war in March 2026 and marginal improvements in trading in Mozambique. To date, the group has not 
experienced a material adverse impact on its South African operations, but the impact of increased fuel costs on the 
SA economy going forward is uncertain.

The group remains well positioned to withstand a potential downturn. A strong balance sheet supports the funding of
development initiatives through existing facilities and operational cash flows. This financial flexibility preserves
optionality for shareholder returns, including opportunistic share buybacks or special dividends, while maintaining
resilience through the cycle.

Dividend
Having reviewed the group's working capital requirements and cash resources, the board has approved and declared a
final dividend (number 3) of 30.00 cents per ordinary share (gross) (2025: 25.00 cents) in respect of the year ended 
31 March 2026. The dividend will be subject to dividend tax. In accordance with paragraph 7.23 of the Listings 
Requirements of the JSE Limited (Listings Requirements) the following additional information 
is disclosed:
- The dividend has been declared out of distributable reserves;
- The local dividend tax rate is 20% (twenty per centum);
- The gross local dividend amount is 30.00000 cents per ordinary share for shareholders exempt from the dividend tax;
- The net local dividend amount is 24.00000 cents per ordinary share for shareholders liable to pay the dividend tax;
- The number of shares in issue at declaration date is 1 315 348 147; and
- The company's income tax reference number is 9878091140.

Important dates relating to the dividend payment are set out below:
Last date to trade cum dividend               Tuesday, 9 June 2026
Shares commence trading ex-dividend        Wednesday, 10 June 2026
Record date                                   Friday, 12 June 2026
Payment of dividend                           Monday, 15 June 2026

Share certificates may not be dematerialised or rematerialised between Wednesday, 10 June 2026 and Friday, 12 June
2026, both days inclusive.

Short-form announcement
This short-form announcement and the results contained in the short-form announcement have been prepared in compliance
with the Listings Requirements and is the responsibility of the board of directors of Southern Sun. This short-form 
announcement is a summary of the full announcement released on SENS on 20 May 2026 and does not include full or complete 
details. The information contained in this announcement has not been reviewed or reported on by the company's auditors.

The condensed consolidated financial statements for the year ended 31 March 2026 have been reviewed by Deloitte &
Touche, and their unmodified review conclusion is included on page 7 of the full announcement. The full announcement is
available on the company's website www.southernsun.com/investors/financial-reports and can also be accessed using the
following JSE link: https://senspdf.jse.co.za/documents/2026/jse/isse/SSUE/YE26.pdf

A copy of the full announcement may be requested from companysecretary@southernsun.com. Any investment decisions by
shareholders should be based on a consideration of the full announcement, which shareholders are encouraged to view on
SENS and on the company's website.

This announcement contains forward-looking statements and information in relation to the group. By its very nature,
such forward-looking statements and information require the company to make assumptions that may not materialise or that
may not be accurate. Such forward-looking information and statements involve known and unknown risks, uncertainties and
other important factors beyond the control of the company that could cause the actual performance or achievements of the
company to be materially different from any future results, performance or achievements expressed or implied by such
forward-looking information and statements. Past share performance cannot be relied on as a guide to future performance.

Forward-looking statements speak only as at the date of the announcement and no statement is intended to be a profit
forecast. Forward-looking statements are the responsibility of the board and have not been reviewed and reported on by
the external auditors in accordance with ISAE 3400 - The Examination of Prospective Financial Information.

20 May 2026

JSE Equity Sponsors
Investec Bank Limited

www.southernsun.com
Date: 20-05-2026 07:15:00
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