Combined Motor
                                                          Holdings Limited
                                                          (Registration number: 1965/000270/06) (Share code: CMH) (ISIN: ZAE000088050) (“the Company” or “the Group”)




                               GROUP FINANCIAL HIGHLIGHTS
                                                     FOR THE YEAR ENDED 28 FEBRUARY 2023

 • Basic earnings per share up 18%                                                 • Headline earnings per share up 23%
 • Dividends paid per share up 67%                                                 • Operating profit up 28%
                                                                                                         28 February          28 February                Change
                                                                                                                2023                 2022                    %

Total assets                                                                               (R’000)         4 976 881             3 778 740                   31,7
Cash resources                                                                             (R’000)           761 876               817 739                    (6,8)
Net asset value per share                                                                   (cents)            1 690                 1 484                   13,9
Revenue                                                                                    (R’000)        12 434 375            11 167 798                   11,3
Operating profit                                                                           (R’000)           773 412               606 146                   27,6
Operating profit to revenue                                                                    (%)                6,2                   5,4                  14,8
Total profit and comprehensive income                                                      (R’000)           443 461               374 887                   18,3
Return on shareholders’ funds                                                                  (%)              37,3                  37,1                     0,5
Basic earnings per share                                                                    (cents)            592,8                 501,2                   18,3
Headline earnings per share                                                                 (cents)            617,1                 501,0                   23,2
Dividends paid per share                                                                    (cents)            393,0                 235,0                   67,2
Dividend declared per share, payable June 2023                                              (cents)            240,0                 225,0                     6,7

Audit
The consolidated financial statements for the year ended 28 February 2023 have been audited by the Company’s auditors, KPMG Inc, who expressed an
unmodified opinion thereon. The audit opinion also includes communication of key audit matters. The audit opinion is available along with the financial
statements, and the summary financial results on the Company’s website at https://www.cmh.co.za/annual-reports/.
Dividend declaration
Notice is hereby given that a dividend (dividend number 69) of 240 cents per share will be paid on Monday, 19 June 2023 to members reflected in the
share register of the Company at the close of business on the record date, Thursday, 15 June 2023. Last day to trade cum dividend is Monday, 12 June
2023. First day to trade ex dividend is Tuesday, 13 June 2023. Share certificates may not be dematerialised or rematerialised from Tuesday, 13 June 2023 to
Thursday, 15 June 2023, both days inclusive. The number of ordinary shares in issue at the date of the declaration is 74 801 998. Consequently, the gross
dividend payable is R179 524 795 and will be distributed from income reserves. The dividend will be subject to dividend withholding tax at a rate of 20%,
which will result in a net dividend of 192 cents to those shareholders who are not exempt in terms of section 64F of the Income Tax Act.
Short-form announcement
This short-form announcement is the responsibility of the directors. It is only a summary of the information contained in the full announcement and does
not contain complete details. Any investment decision should be based on the full announcement which can be found on the Company’s website at
www.cmh.co.za and at the following link https://senspdf.jse.co.za/documents/2023/jse/isse/CMH/CMHAR2023.pdf. The full announcement is also available
for inspection at the Company’s registered office, and copies thereof may be requested at no charge, during office hours by phoning the Company Secretary
on +27 31 5804200 or via email at kerriannef@cmh.co.za.
3 May 2023
                                                                          Sponsor