ISIN Number: ZAE000015277 | Share Code: BRT | ISIN Number: ZAE000015285 | Share Code: BRN | Company Registration Number: 1995/010442/06 (Incorporated in the Republic of South Africa) (“Brimstone” or the “Company” or the “Group”)




                     UNAUDITED INTERIM RESULTS
                     FOR THE SIX MONTHS ENDED 30 JUNE 2023
                     Salient features                                                                                                                  Declaration of cash dividend
                                                                                                                                                       In line with the prior period, no interim dividend has been declared.
                                                                        UNAUDITED                 UNAUDITED
                                                                       SIX MONTHS                SIX MONTHS
                                                                            ENDED                     ENDED                                            F Robertson                                                      MA Brey
                                                                           30 JUNE                   30 JUNE                INCREASE/                  EXECUTIVE CHAIRMAN                                               CHIEF EXECUTIVE OFFICER
                                                                               2023                      2022              (DECREASE)
                                                                              R’000                     R’000                       %
                                                                                                                                                       4 September 2023

                     Revenue                                           3 342 887                 2 857 910                           17
                     Operating profit                                    237 515                   279 349                          (15)
                                                                                                                                                       About this announcement
                                                                                                                                                       This short-form announcement is the responsibility of the directors of Brimstone. It is only
                     Profit for the period                               188 095                   118 126                           59
                                                                                                                                                       a summary of the information in the unaudited interim results and does not contain full or
                     Earnings per share (cents)                             35.6                      10.3                          246
                                                                                                                                                       complete details. Any investment decisions by investors and/or shareholders should be based
                     Headline earnings per share (cents)                    34.2                      10.1                          239                on consideration of the unaudited interim results for the six months ended 30 June 2023
                                                                                                                                                       published on the JSE at https://senspdf.jse.co.za/documents/2023/jse/isse/BRT/ie2023.pdf
                                                                                                                                                       It is also available for viewing at www.brimstone.co.za/investor-relations/results-reports/.
                     Intrinsic net asset value (INAV)
                     INAV at 30 June 2023 calculated on a line-by-line basis, totalled R3.07 billion, or R12.36 per                                    This announcement has not been audited or reviewed by the Group’s external auditors.
                     share (31 December 2022: R3.29 billion or R13.25 per share), representing a decrease of
                     6.7% from 2022. As at 30 June 2023, Brimstone Ordinary shares were trading at a discount
                     of 55.9% to INAV (31 December 2022: 60.3%) and “N” Ordinary shares traded at a discount
                                                                                                                                                       Directorate and administration
                                                                                                                                                       REGISTERED OFFICE: Boundary Terraces, 1 Mariendahl Lane, Newlands, 7700, Cape Town
                     of 59.6% to INAV (31 December 2022: 57.5%). The analysis of INAV is available on the                                              TRANSFER SECRETARIES: Computershare Investor Services (Pty) Ltd, Rosebank Towers, 15 Biermann Avenue,
                     Company’s website at www.brimstone.co.za.                                                                                         Rosebank, 2196 | SPONSOR: Nedbank Corporate and Investment Banking, a division of Nedbank Limited,
                                                                                                                                                       135 Rivonia Road, Sandton, 2196 | DIRECTORATE: F Robertson (Executive Chairman)*,
                                                                                                                                                       MA Brey (Chief Executive Officer)*, GG Fortuin (Financial Director)*, MI Khan (Chief Operating Officer)*,
                     The INAV information presented in this report has been prepared on a basis consistent with                                        T Moodley*, PL Campher (Lead Independent), M Hewu, N Khan, M Ndlovu, LA Parker, FD Roman, L Wort *Executive
                     that used in the Integrated Report for the year ended 31 December 2022.                                                           COMPANY SECRETARY: T Moodley | WEBSITE: www.brimstone.co.za | E-MAIL: info@brimstone.co.za




                      UNDERLYING INVESTMENTS
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