SUN INTERNATIONAL LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1967/007528/06
Share code: SUI
ISIN: ZAE 000097580
LEI: 378900835F180983C60
("Sun International" or "company" or "group")

Unaudited interim group consolidated financial results and interim dividend declaration
for the six-month period ended 30 June 2022

Key highlights

GROUP INCOME
up 37%
to R5.2 billion

GROUP BASIC EARNINGS
up >100%
to 94 cents per share

GROUP HEADLINE EARNINGS
up >100%
to 93 cents per share

GROUP ADJUSTED HEADLINE EARNINGS
up >100%
to 177 cents per share

INTERIM DIVIDEND DECLARED
88 cents per share
First dividend payment since 2016

Introduction

Sun International achieved exceptional results for the six-month period ended 30 June 2022 with income up 37% from the prior comparative period to
R5.2 billion.

Sustainable cost savings contributed to the adjusted EBITDA being up by 99% to R1.5 billion. Adjusted headline earnings improved from a loss of R7
million to an earnings of R438 million, equivalent to adjusted headline earnings of 177 cents per share from a loss of 3 cents per share, in the prior
comparative period.

These results were achieved despite a trading environment which was impacted by the ongoing effects of the Covid-19 (pandemic), power outages,
increasing fuel prices, high inflation and international supply chain disruptions.

Gaming income from casinos, Sun Slots and SunBet, which make up 82% of group income, showed a significant recovery with income up 30%. The
group was able to successfully defend and grow market share in most provinces, while income generated from Sun Slots recovered to exceed
pre-pandemic levels. SunBet generated record income during the period under review and is well on its way to achieving its aggressive growth targets
for this business.

As a result of substantial sustainable savings in the group's cost structure, the South African operation's adjusted EBITDA margin improved from 26.8% in
2019 to 29.1% during the period under review.

The group is in a strong financial position with South African debt (excluding IFRS 16 lease liabilities) having reduced to R5.9 billion from the R6.4 billion
at 31 December 2021. The debt to adjusted EBITDA, based on the last six months results annualised, is below 2 times. As a result of the significantly
stronger financial position and the strong cash generation, the board has resolved to resume dividend payments, and has declared a gross interim cash
dividend of 88 cents per share (70.4 cents net after deducting withholding tax), representing a dividend cover of 2 times on an adjusted headline
earnings per share of 177 cents per share.

Financial overview

                                                                                   30 June                            30 June
R million                                                                             2022                 %             2021
Income                                                                                5 168               37            3 760
Adjusted EBITDA                                                                       1 474               99              739
Depreciation and amortisation                                                          (441)               2             (451)
Adjusted operating profit                                                             1 033             >100              288
Foreign exchange losses                                                                  (4)              33               (6)
Net interest                                                                           (229)               2             (233)
Adjusted profit before tax                                                              800             >100               49
Tax                                                                                    (243)           <(100)             (32)
Adjusted profit after tax                                                               557             >100               17
Minorities                                                                             (119)           <(100)             (22)
Adjusted attributable profit/(loss)                                                     438             >100               (5)
Share of associates                                                                       -             (100)               1
Continuing adjusted headline earnings/(loss)                                            438             >100               (4)
Discontinued headline loss                                                                -              100               (3)
Group adjusted headline earnings/(loss)                                                 438             >100               (7)
Group headline earnings/(loss)                                                          231             >100              (81)
Group basic headline earnings/(loss)                                                    232             >100              (80)
Adjusted headline earnings/(loss) cents per share                                       177             >100               (3)
Headline earnings/(loss) cents per share                                                 93             >100              (32)
Basic earnings/(loss) cents per share                                                    94             >100              (32)
Gross dividend cents per share                                                           88              100                -
Interim dividend declaration

Notice is hereby given that a gross interim cash dividend of 88 cents per share (70.4 cents net after deducting withholding tax) for the six-month period
ended 30 June 2022 has been declared, payable to shareholders recorded in the register of the company at the close of business on the record date
appearing below. The company did not declare an interim dividend in the prior comparative period. The dividend has been declared from reserves and
therefore does not constitute a distribution of 'contributed tax capital' as defined in the Income Tax Act, 58 of 1962. A dividend withholding tax of 20%
will be applicable to all shareholders who are not exempt.

The issued share capital at the declaration date is 263 905 660 ordinary shares including treasury shares. The salient dates for the dividend will be as
follows:
Declaration date                                                                  Monday, 29 August 2022
Last day to trade cum dividend                                                Tuesday, 13 September 2022
Shares commence trading 'ex' dividend                                       Wednesday, 14 September 2022
Record date                                                                     Friday, 16 September 2022
Payment date                                                                  Monday, 19 September 2022

Share certificates may not be dematerialised or rematerialised between Wednesday, 14 September 2022 and Friday, 16 September 2022, both days
inclusive. Ordinary shareholders who hold dematerialised shares will have their accounts at their CSDP or broker credited or updated on Monday, 19
September 2022. Where applicable, dividends in respect of certificated shares will be transferred electronically to shareholders' bank accounts on the
payment date. Where the transfer secretaries do not have the banking details of any certificated shareholders, the cash dividend will be held in trust by
the transfer secretaries pending receipt of the relevant certificated shareholder's banking details after which the cash dividend will be paid via electronic
transfer into the personal bank account of the certificated shareholder.

Sun International's tax reference number is 9875/186/71/1.

Outlook

Our operations improved significantly during the first six months of 2022, due to the last pandemic related restrictions having been lifted and we
anticipate that this trend will continue for the remainder of the year. Our overall July 2022 income was in line with 2019 and ahead of the run rate
achieved in the first six months. With our ongoing focus on costs and efficiencies, we anticipate a significant improvement in the second half of the
year compared to the prior comparative period and consequently strong growth in adjusted EBITDA and earnings per share.

We anticipate that SunBet will continue with its strong income growth which will be aided by the introduction of the recently launched slots offering.
Our omni-channel offering with Sun International's premium hotel and casino portfolio and integrated MVG programme will also assist in increasing our
share of the online gaming market.

Further information

This short-form announcement is the responsibility of the directors and is only a summary of the information contained in the full announcement. Any
investment decision should be based on the full announcement published on Sun International's website and on the SENS link below. Only the short
form announcement will be available on SENS. The full announcement will be available on the link www.suninternational.com/investors or through this
link https://senspdf.jse.co.za/documents/2022/jse/isse/SUI/HY2022.pdf

These unaudited interim group consolidated financial statements have not been reviewed or audited by Deloitte, the group's statutory external auditor.
The company's external auditor has not reviewed or reported on any forecasts included in these unaudited interim group consolidated financial
statements. The unaudited interim group consolidated financial statements are available for inspection at the company's registered office and also
available on Sun International's website at www.suninternational.com/investors.

www.suninternational.com

Sponsor: Investec Bank Limited

29 August 2022