PBT Group Limited
   (Incorporated in the Republic of South Africa)
   (Registration number: 1936/008278/06)
   JSE Share code: PBG ISIN: ZAE000256319
   ("PBT Group" or “the Company”)

   TRADING STATEMENT FOR THE TWELVE MONTHS ENDED 31 MARCH 2022


   In terms of paragraph 3.4 of the JSE Listings Requirements, companies are required to publish a trading
   statement as soon as they are satisfied with a reasonable degree of certainty that the financial results of the
   period to be reported upon will differ by 20% or more from the financial results of the previous corresponding
   period.


   Shareholders of PBT Group are advised that the Company is currently finalising its results for the 12 months
   ended 31 March 2022.

   Results are expected to be as follows:

Trading statement for the 12 months                         Year on year          12 months ended        12 months
ended 31 March 2022                                       change based on          31 March 2022          ended 31
                                                           expected ranges                              March 2021
                                                                                 Expected ranges
Revenue                                       (ZARm)      21.2%    -   26.1%      956.2    -   995.2        789.0
Cash Generated from Operations                (ZARm)      44.5%    -   50.4%      133.1    -   138.5        92.1
EBITDA                                        (ZARm)      38.2%    -   43.8%      135.8    -   141.4        98.3
Profit after taxation                         (ZARm)      38.6%    -   44.3%      90.5     -    94.2        65.3


Normalised Headline Earnings*                 (ZARm)      68.0%    -   74.8%      76.9     -    80.0        45.8
Headline Earnings                             (ZARm)      53.3%    -   59.6%      67.9     -    70.6        44.3


Normalised Headline Earnings per              (ZAR        60.6%    -   67.2%      74.1     -    77.1        46.1
share*                                        cents)
Headline Earnings per share                   (ZAR        60.6%    -   67.1%      81.2     -    84.6        50.6
                                              cents)
Earnings per share                            (ZAR        55.9%    -   62.3%      78.8     -    82.0        50.6
                                              cents)



   PBT Group’s financial performance was driven by:

         •   Organic revenue growth due to continued demand for PBT Group’s services.
         •   Containing costs, resulting in EBITDA margin expansion.
         •   Converting operating accounting earnings into operating cash earnings.



   * PBT Group is reporting normalised headline earnings and normalised headline earnings per share figures.
   These figures reverse the accounting effect of IFRS 2 Share-based Payment. The board of directors of PBT
   Group is of the view that this is a more accurate reflection of the Company’s after-tax earnings and after-tax
   earnings per share.
The financial information on which this trading statement is based has not been reviewed and reported on by
the Company’s auditors.

The Company’s results for the 12 months ended 31 March 2022 are scheduled to be published on or about 30
June 2022.



By order of the board of directors.

Cape Town
24 June 2022

Sponsor

Questco Corporate Advisory Proprietary Limited