York Timber Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1916/004890/06)
Share code: YRK
ISIN: ZAE000133450
(“York” or the “Company” or the “Group”)

UPDATED TRADING STATEMENT AND TRADING UPDATE

York shareholders (“Shareholders”)are referred to the initial
trading statement announcement published on SENS on Friday,
15 September 2023 (“Initial Trading Statement”), wherein
Shareholders were, inter alia, advised that a reasonable
degree of certainty existed that both the Groups’ earnings
per share (“EPS”) and headline earnings per share (“HEPS”)
for the year ended 30 June 2023 (“Current Period”) are
expected to decrease by at least 90.00 cents from 26.00 cents*
for the year ended 30 June 2022 (“Prior Comparative Period”).

Shareholders are hereby advised that the Company is now in a
position to confirm that, for the Current Period, a reasonable
degree of certainty exists that:

-   the Group’s EPS is expected to decrease from 53.13 cents*
    to a loss per share of between 74.81 cents and 78.53 cents
    compared to the Prior Comparative Period; and
-   the Group’s HEPS is expected to decrease from 53.30 cents*
    to a loss per share of between 73.27 cents and 77.00 cents
    compared to the Prior Comparative Period.

Furthermore, Shareholders are advised that:

-   Core EPS (based on EPS attributable to ordinary
    Shareholders less the fair value adjustment to the
    biological assets, net of tax) is expected to decrease
    from 34.12 cents* to a loss per share of between 6.51 cents
    and 8.90 cents compared to the Prior Comparative Period.

-   Earnings   before   interest,   taxation,   depreciation,
    amortisation and fair value adjustments on biological
    assets is expected to be between 58% and 63% lower than
    the Prior Comparative Period amount of R271.3 million*.

-   Cash generated from operations is expected to be between
    48% and 53% lower than the cash generated from operations
    in the Prior Comparative Period of R255.4 million*.
 * Further to the Initial Trading Statement, Shareholders
   are advised that the Prior Comparative Period figures
   were further restated for the following reasons:

  -    A change in the biological asset accounting policy to
       capitalise plantation establishment costs.

  -    Other   restatements  were   made   to   the   plantation
       biological   asset which    impacted   the   fair   value
       adjustment in the Statement of Profit or Loss.

  -    The issue of York ordinary shares pursuant to the York
       rights offer implemented in January 2023, at a discount
       to the York share price, resulted in the Prior
       Comparative Period weighted average number of ordinary
       shares used for the EPS, HEPS and Core EPS calculations
       being retrospectively adjusted in terms of International
       Accounting Standards (IAS) 33.

      A detailed assessment and impact of the above restatements
      will be included in the results for the year ended
      30 June 2023 to be published on SENS on or about Friday,
      29 September 2023.

Shareholders are advised that the information included in
this announcement has not been reviewed or reported on by the
Company’s auditors and is the responsibility of the directors
of the Company.

Sabie, Mpumalanga
27 September 2023

Sponsor
One Capital