METAIR INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1948/031013/06
ISIN: ZAE000090692
JSE share code: MTA
(“Metair” or the “Company” or the “Group”)

TRADING STATEMENT AND TRADING UPDATE

In terms of paragraph 3.4(b) of the JSE Limited 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 upon next, will differ by at least 20% from the
financial results for the previous corresponding period.

Metair is in the process of finalising its results for the year ended 31 December 2022 (“Results”) and
shareholders are accordingly advised that Metair expects to report that earnings per share (“EPS”) and
headline earnings per share (“HEPS”) will reduce by at least 105% and 104%, respectively (being a
decrease of at least 369 cents per share in respect of both the EPS and HEPS) compared to the EPS
and HEPS of the previous corresponding period of 350 cents per share and 354 cents per share,
respectively.

The decrease in EPS and HEPS, taking into account our communications to the market relating to the
interim results for the 2022 financial year and the voluntary operational update published on SENS on
Monday, 5 December 2022, is as a result of, inter-alia:

        (i) the non-cash impact of applying hyper-inflation accounting in Turkish operations and its
        effect on earnings of Mutlu Akü and thus the Energy Storage Vertical;

        (ii) the planned pre-production and engineering (project) cash costs in respect of the Automotive
        Components Vertical (most notably at Hesto Harnesses) in relation to the new Ford Ranger
        project launched during November 2022;

        (iii) the knock-on impact of supply chain disruptions on logistical costs necessitating the use of
        premium air freight;

        (iv) the KZN floods which impacted production at our major customer, Toyota South Africa,

        (v) overall OEM production volumes and efficiencies for the year; and

        (vi) increased interest charges as a result of high net debt levels to support new projects and
        to mitigate supply chain disruptions.

A further trading statement will be issued as soon as there is a reasonable degree of certainty as to the
likely ranges within which the Company’s EPS and HEPS are expected to decrease.

The Automotive Component Vertical continues to benefit from ongoing operational performance with
growth in OEM volumes. Within the Energy Storage Vertical, volumes remain above pre-Covid levels
driven by strong OEM demand.

With regards to the earthquake in Türkiye, we can report that none of our facilities were directly affected
and there were no injuries to our staff, however, some of our dealers have been impacted and we are
currently assessing what the impact could be on our after-market business.

The Results are expected to be published on or about Thursday, 30 March 2023.

The information contained in this announcement is the responsibility of the directors of Metair and does
not constitute an earnings forecast. Such information has not been audited, reviewed, or reported on
by the Group’s external auditors.

9 March 2023
Johannesburg

Sponsor
One Capital