Senwesbel Consolidated Financial Statements

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AS AT 30 APRIL 2020 GROUP COMPANY NOTES 2020 R’m 2019 R’m 2020 R’m 2019 R’m ASSETS Non-current assets Property, plant and equipment 2 2 013 1 438 - - Investment properties 3 1 - - - Right-of-use assets 4 37 - - - Goodwill and intangible assets 5 41 9 - - Investment in subsidiary 6.1 - - 1 057 1 052 Investment in joint ventures 8.1 185 227 - - Investment in associate 8.2 31 28 - - Other financial assets 7.1.1 2 5 - - Long-term portion of other loans receivable 7.1.2 510 6 - - Loans and other receivables 9 1 226 1 204 - - Deferred tax asset 18.2 30 24 2 - Total non-current assets 4 076 2 941 1 059 1 052 Current assets Inventory 10 882 609 - - Trade and other receivables 11 3 735 2 881 - - Other loans receivable 7.1.2 7 28 - - Inventory held to satisfy firm sales 12 105 234 - - Derivative financial instruments 20.1 86 52 - - Tax receivable 29 - 7 - - Cash and short-term deposits 7.1.3 174 31 - - Total current assets 4 989 3 842 - - TOTAL ASSETS 9 065 6 783 1 059 1 052 EQUITY AND LIABILITIES Equity Issued capital 14 13 5 13 5 Share premium 15.1 498 498 498 498 Non-distributable reserve 78 78 78 78 Reserves 15.2 40 45 384 386 Retained earnings 1 070 981 (45) (55) Own equity 1 699 1 607 928 912 Non-controlling interest 6.2, 6.3 1 702 1 243 - - Total equity 3 401 2 850 928 912 Non-current liabilities Interest-bearing loans 7.2.3 670 1 002 - 1 Other financial liabilities 7.2.5 35 59 - - Lease liabilities 4 29 - - - Deferred government grants 7.4 10 - - - Deferred tax liability 18.2 319 310 111 108 Total non-current liabilities 1 063 1 371 111 108 Current liabilities Trade and other payables 17 793 538 - 1 Contract liabilities 7.3 9 39 - - Interest-bearing loans 7.2.2 3 467 1 837 - - Other loans payable 7.2.1 64 46 - - Derivative financial instruments 20.2 72 30 - - Tax payable 29 15 - - - Short-term incentive bonuses 16.1 24 26 - - Bank overdraft 7.2.4 129 31 20 31 Short-term portion of lease liabilities 4 10 - - - Short-term portion of deferred government grants 7.4 1 - - - Provisions 19 17 15 - - Total current liabilities 4 601 2 562 20 32 Total liabilities 5 664 3 933 131 140 TOTAL EQUITY AND LIABILITIES 9 065 6 783 1 059 1 052 11 SENWESBEL ANNUAL FINANCIAL STATEMENTS 2020 Senwesbel Limited Reg no: 1996/017629/06

Senwesbel Consolidated Financial Statements | Page 12