enX GROUP LIMITED - Trading Statement

Trading Statement

enX Group Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2001/029771/06)
JSE share code: ENX ISIN: ZAE000222253
("enX" or ''the Company'' or ''the Group'')


TRADING STATEMENT


 In terms of the JSE Listings Requirements, companies are required to publish a trading
 statement as soon as they are satisfied that a reasonable degree of certainty exists that the
 financial results for the period to be reported on next, will differ by at least 20% from the
 financial results for the previous corresponding period.

 Shareholders are advised that the Company anticipates results for the six months ended 29
 February 2024 ("Current Range") to differ by more than 20% compared to the six months
 ended 28 February 2023 ("Prior Period"), as follows:

                                    Current Range         Prior Period        Percentage
                                                                             change range
  enX Group
    EPS                               82c to 89c               70c            17% to 27%
    Diluted EPS                       82c to 89c               70c            17% to 27%
    HEPS                             192c to 200c              70c                 -

                                    Current Range         Prior Period        Percentage
                                                          (Restated #)       change range
  Continuing
    EPS                                59c to 63c              29c                  -
    Diluted EPS                        59c to 63c              29c                  -
    HEPS                               59c to 63c              29c                  -
  Discontinued
    EPS                               23c to 27c               41c           (34%) to (44%)
    Diluted EPS                       23c to 27c               41c           (34%) to (44%)
    HEPS                             133c to 137c              41c                  -

   # The Prior Period has been restated due to the classification of enX's leasing and fleet
   management business, Eqstra, as a disposal group held for sale and discontinued operation as
   at 31 August 2023. The Prior Period EPS, Diluted EPS and HEPS remain unchanged on a total
   enX Group basis. The split between continuing and discontinued operations has, however,
   changed due to Eqstra being classified as a disposal group held for sale and discontinued
   operation. See Discontinued operations below.

 Trading commentary
 Revenue from continuing operations is expected to increase by approximately 5%.
 Profit before taxation from continuing operations is expected to increase between 68% and
 72%.

 Discontinued operations
 Current period
 Shareholders are referred to the SENS announcement dated 12 December 2023 announcing
 the disposal of Eqstra Investment Holdings Proprietary Limited ("Eqstra") to Nedbank Group
 Limited ("the Transaction"), wherein definitive transaction agreements ("Transaction
 Agreements") were concluded between the parties. The Transaction was approved by the
 enX shareholders by way of special resolution at a General Meeting on 3 April 2024 and all
 suspensive conditions have now been fulfilled and the Transaction is now unconditional as
 announced on SENS on 19 April 2024. Accordingly, the effective date of the Transaction is 30
 April 2024. The Company expects the Transaction to be implemented during June 2024.

 In terms of IFRS 5, Eqstra has been reported as a disposal group held for sale and
 discontinued operation from 31 August 2023, the date that the conditions were met to be
 classified as such. Eqstra was required to cease depreciation and amortisation from that date
 and assess the carrying value of the held for sale assets relative to the transaction value.
 Consequently, depreciation and amortisation from 1 September 2023 amounting to R274
 million (after tax R200 million) was not recorded in the current period. The assets held for sale
 have been impaired by R200 million relative to the transaction value which equates to the after
 tax depreciation and amortisation not charged in the period.

 The total HEPS range would have been between 82c and 89c per share had Eqstra not been
 classified as a disposal group held for sale and discontinued operation. This is primarily due
 to depreciation ceasing on assets within Eqstra at the point of classification as held for sale.
 The financial information on which this trading statement is based has not been reviewed or
 reported on by the Company's auditors.

 9 May 2024
 Sponsor:
 The Standard Bank of South Africa Limited

Date: 09-05-2024 02:06:00
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