BOWLER METCALF LIMITED
                               (Registration number 1972/005921/06)
                           Share code: BCF ISIN number: ZAE000030797


  SUMMARY OF CONDENSED GROUP FINANCIAL RESULTS AND DIVIDEND DECLARATION FOR THE
                           YEAR ENDED 30 JUNE 2022


KEY FEAUTURES
                                                                               %
                                                           2022           Change                 2021

 Net asset value – R’mil                                  704.3                  -4              732.7

 Earnings – R’mil
 Revenue                                                  673.1                  +6              635.5
 Profit from operations                                   100.0                 -10              111.2
 Net profit before tax                                    114.4                 -10              126.7
 Net profit after tax                                      82.7                 -10               91.5

 Attributable to parent
 Net profit after tax                                      82.7                 -10               91.5
 Total comprehensive income                                82.7                 -10               91.5

 Earnings – cents per share

 Earnings                                                 116.3                  -9              127.3
 Headline earnings                                        116.3                  -9              127.3


 Dividends – cents per share
 Final previous year paid                                 32.00                 +8               29.50
 Interim this year paid                                   19.40                 +0               19.40
 Special this year paid                                   84.00               +100                   -
 Final this year proposed                                 27.00                -16               32.00

Bowler Metcalfs’s auditors, Mazars, have issued an unmodified audit opinion on the consolidated
and separate annual financial statements for the year ended 30 June 2022, which includes a key
audit matter relating to the acquisition of Skye Plastics detailed in note 14 of the provisional report.
The audit report including the key audit matters is included on the Company’s website,
http://www.bowlermetcalf.co.za/. Copies of the consolidated and separate annual financial
statements (together with the unmodified audit report) will be available on the Company’s
website or at the Company’s registered office from 16 September 2022.

DIVIDEND DECLARATION
A final gross cash dividend, as defined by the Income Tax Act No. 58 of 1962, of 27.00 cents per
share ("cps") for the year ended 30 June 2022 (2021: 32.00 cps) has been declared and is payable
to shareholders on Monday, 31 October 2022. The last day to trade will be Tuesday, 25 October
2022, the ex-date is Wednesday, 26 October 2022 and the record date will be Friday, 28 October
2022. Share certificates may not be dematerialised or re-materialised between Wednesday,
26 October 2022 and Friday, 28 October 2022, both days inclusive.
This dividend will be made from income reserves. The gross dividend is 27.00cps. Dividend
Withholding Tax (DWT) is 20%. The net local cash dividend to shareholders liable for DWT will
therefore be 21.60 cps. The directors confirm that the solvency and liquidity test is satisfied at the
date of this report.

SHORT-FORM ANNOUNCEMENT
This short-form announcement is the responsibility of the directors and is only a summary of the
information in the full announcement and does not contain full or complete details. Any
investment decisions by investors and/or shareholders should be based on consideration of the
full announcement released on SENS on 6 September 2022 and published on the Company’s
website at www.bowlermetcalf.co.za.

The full announcement can be found at the following link:

https://senspdf.jse.co.za/documents/2022/JSE/ISSE/BCF/BCFAR2022.pdf

Copies of the full announcement may be requested from the Company by sending an email to
aseptember@bowler.co.za, or may be inspected at the Company’s registered office and at the
offices of its sponsor, AcaciaCap Advisors, at no charge, during office hours on business days, by
phoning the Company during office hours on +27 21 704 2223 and at the offices of the Company’s
sponsor, at no charge, during office hours on business days.

Prepared by: AC September CA (SA)                                                 6 September 2022




                                          Sponsor
                              AcaciaCap Advisors Proprietary Limited