Truworths International Ltd
(Incorporated in the Republic of South Africa)
(Registration number: 1944/017491/06)
(Tax reference number: 9875/145/71/7)
JSE and A2X code: TRU
NSX code: TRW
ISIN: ZAE000028296
LEI: 37890099AFD770037522

GROUP ANNUAL FINANCIAL STATEMENTS, SUMMARISED AUDITED GROUP ANNUAL RESULTS AND CASH DIVIDEND
DECLARATION FOR THE 52 WEEKS ENDED 2 JULY 2023

Truworths International Ltd (the company) is an investment holding and management company listed on the stock exchanges
operated by the JSE Ltd (JSE) and A2X (Pty) Ltd (A2X), as well as the Namibian Stock Exchange. Its principal trading
entities, Truworths Ltd and Office Holdings Ltd, are engaged either directly or indirectly through subsidiaries,
concessions, agencies or wholesale partnerships, in the cash and account retailing of fashion clothing, footwear,
homeware and related merchandise. The company and its subsidiaries (the Group) operate primarily in South Africa and
the United Kingdom (UK), and have a presence in the Republic of Ireland and other sub-Saharan African countries.

Key features

                                             Reported 52 weeks to 2 July 2023                 Pro forma 52 weeks to 2 July 2023
                                                     (change on prior period)             (change on corresponding prior period)
                                      Includes the impact of the indirect tax    Excludes the impact of the indirect tax matter
                                        matter settlement and compares to the    settlement and compares to a 52-week pro forma
                                                53-week reported prior period                                      prior period

Sale of merchandise                               up 11.2 % to R19.9 billion                          up 13.1% to R19.9 billion
Retail sales                                       up 11.4% to R20.6 billion                          up 13.2% to R20.6 billion
Gross profit margin                                                    52.5%
                                                                (2022: 53.5%)
Operating margin                                                       24.0%                                                 22.7%
                                                                (2022: 24.7%)                                         (2022: 24.3%)
Earnings per share                                                  up 11.9%                                               up 8.9%
Headline earnings per share                                         up 12.0%                                               up 9.0%
Diluted headline earnings per share                                 up 11.8%                                               up 8.7%
Cash generated from operations                                  R3.8 billion
                                                        (2022: R3.9 billion)
Net asset value per share                                             up 25%
Annual dividend per share                               up 12% to 565 cents


The full Group annual financial statements are accessible via the JSE cloudlink at
https://senspdf.jse.co.za/documents/2023/jse/isse/tru/FY2023AFS.pdf and on the company's website at
www.truworths.co.za/investor-relations. As the information in this announcement does not provide all of the details
any investment decisions in relation to the company's shares should be based on consideration of the Group annual
financial statements.

The consolidated annual financial statements for the period ended 2 July 2023 have been audited by the company's
auditors, Ernst & Young Inc. who expressed an unmodified audit opinion thereon.

The summarised audited group annual results for the 52 weeks ended 2 July 2023 and cash dividend declaration notice
are also available on the company's website at www.truworths.co.za/investor-relations.
FINAL DIVIDEND
The directors of the company have resolved to declare a final gross cash dividend from retained earnings in respect
of the 52-week period ended 2 July 2023 in the amount of 245 South African cents (2022: 205 South African cents) per
ordinary share to shareholders reflected in the company's register on the record date, being Friday, 22 September 2023.

The last day to trade in the company's shares cum dividend is Tuesday, 19 September 2023. Consequently no
dematerialisation or rematerialisation of the company's shares may take place over the period from Wednesday,
20 September 2023 to Friday, 22 September 2023, both days inclusive. Trading in the company's shares ex dividend
will commence on Wednesday, 20 September 2023. The dividend is scheduled to be paid in South African Rand (ZAR)
on Tuesday, 26 September 2023.

Dividends will be paid net of dividends tax (currently 20%), to be withheld and paid to the South African Revenue
Service. Such tax must be withheld unless beneficial owners of the dividend have provided the necessary documentary
proof to the relevant regulated intermediary (being a broker, CSD participant, nominee company or the company's
transfer secretaries Computershare Investor Services (Pty) Ltd, Private Bag X9000, Saxonwold, 2132, South Africa)
that they are exempt therefrom, or entitled to a reduced rate, as a result of a double taxation agreement between
South Africa and the country of tax domicile of such owner.

The withholding tax, if applicable at the rate of 20%, will result in a final net cash dividend per ordinary share of
196 South African cents. The company has 408 498 899 ordinary shares in issue on the date of this announcement. The
dividend on 29 149 184 of these shares held by Group subsidiaries as treasury stock for their own account will flow
back into the Group. In accordance with the company's memorandum of incorporation the dividend will only be paid by
electronic funds transfer, and no cheque payments will be made. Accordingly, shareholders who have not yet provided
their bank account details should do so to the company's transfer secretaries.

The directors have determined that gross dividends amounting to less than 2 000 South African cents, due to any one
shareholder of the company's shares held in certificated form, will not be paid, unless otherwise requested in writing,
but the net amount thereof will be aggregated with other such net amounts and donated to a charity to be nominated by
the directors of the company.

By order of the board

H Saven              MS Mark
Chairman             Chief Executive Officer

31 August 2023

Registered office
No. 1 Mostert Street, Cape Town, 8001, South Africa
PO Box 600, Cape Town, 8000, South Africa

Sponsor in South Africa
One Capital

Sponsor in Namibia
Merchantec Capital

Auditors
Ernst & Young Inc.

Transfer secretaries
In South Africa:
Computershare Investor Services (Pty) Ltd, 15 Biermann Avenue, Rosebank, 2196, South Africa
Private Bag X9000, Saxonwold, 2132, South Africa
In Namibia:
Transfer Secretaries (Pty) Ltd, Robert Mugabe Avenue No. 4, Windhoek, Namibia;
PO Box 2401, Windhoek, Namibia

Company Secretary
C Durham

Directors
H Saven (Chairman)#^, MS Mark (CEO)*, EFPM Cristaudo (Joint Deputy CEO/CFO)*,
SJ Proudfoot (Joint Deputy CEO)*, RG Dow#^, D Earp#^, JHW Hawinkels#^, M Makanjee#^,
AMSS Mokgabudi#^, T Mosololi#^, DR Motsepe#^, WG Muller#^, RJA Sparks#^ and AJ Taylor#^

*Executive   #Non-executive   ^Independent

www.truworths.co.za/investor-relations

www.truworthsinternational.co.za