Registration number 1968/006415/06
                                                                                             ISIN ZAE000026480
                                                                                       JSE and A2X Share code REM

S U M M A R Y O F AUDITED RESULTS FOR THE YEAR ENDED 30 JUNE 2022 AND CASH DIVIDEND
DECLARATION

SALIENT FEATURES
• Headline earnings per share: up by 125.3% to 1 150.6 cents
• Earnings per share: up by 270.5% to 2 327.9 cents
• Ordinary dividend per share: up by 66.7% to 150 cents
• Intrinsic net asset value per share as at 30 June 2022: up by 20.2% to R213.10

INTRODUCTION
The financial year under review had many headwinds that can be regarded as extreme events, which disrupted the
global and local economy. Whilst dealing with the peak of the Covid-19 pandemic, the country was stunned by the civil
unrest in KwaZulu-Natal and Gauteng during July 2021, which was followed by the ongoing Russia-Ukraine conflict,
continuous power supply constraints and high single digit inflation in the US and elsewhere. Despite these challenges,
Remgro has managed to deliver a robust recovery, with most financial metrics ahead of pre-pandemic levels, and made
good progress in its journey to optimise its portfolio and unlock value for its stakeholders, as evidenced by the various
transformative corporate actions initiated during this financial year. These include the recently announced cash
acquisition of Mediclinic International plc (Mediclinic), as well as the Distell Group Holdings Limited (Distell), Community
Investment Ventures Holdings Proprietary Limited (CIVH) and Rand Merchant Investment Holdings Limited
transactions. The Mediclinic, Distell and CIVH transactions are still subject to various approvals.

RESULTS
For the year under review, headline earnings increased by 125.1% from R2 885 million to R6 494 million, while headline
earnings per share (HEPS) increased by 125.3% from 510.6 cents to 1 150.6 cents. The headline earnings for the
comparative year to 30 June 2021 was significantly impacted by the Covid-19 pandemic and the resultant lockdown
measures. From this low base, the increase in headline earnings for the year under review is mainly due to the recovery
of the earnings of most of Remgro’s underlying investee companies, most notably Mediclinic, TotalEnergies Marketing
South Africa Proprietary Limited (TotalEnergies), Kagiso Tiso Holdings Proprietary Limited, Grindrod Limited, Grindrod
Shipping Holdings Limited, FirstRand Limited and Distell. The results for the year under review were also positively
impacted by TotalEnergies’ favourable stock revaluations, CIVH turning profitable and lower finance costs, due to the
redemption of the exchangeable bonds during March 2021.

INTRINSIC NET ASSET VALUE
Remgro’s intrinsic net asset value per share increased by 20.2% from R177.33 at 30 June 2021 to R213.10 at
30 June 2022. The closing share price at 30 June 2022 was R129.91 (2021: R114.60) representing a discount of 39.0%
(2021: 35.4%) to the intrinsic net asset value.

DECLARATION OF CASH DIVIDEND NO. 44
Notice is hereby given that a final gross dividend of 100 cents (2021: 60 cents) per share has been declared out of
income reserves in respect of both the ordinary shares of no par value and the unlisted B ordinary shares of no par
value, for the year ended 30 June 2022.

A dividend withholding tax of 20% or 20 cents per share will be applicable, resulting in a net dividend of 80 cents per
share, unless the shareholder concerned is exempt from paying dividend withholding tax or is entitled to a reduced rate
in terms of an applicable double-tax agreement.

The total gross dividend per share for the year ended 30 June 2022 therefore amounts to 150 cents, compared to
90 cents for the year ended 30 June 2021.

The issued share capital at the declaration date is 529 217 007 ordinary shares and 39 056 987 B ordinary shares. The
income tax number of the Company is 9500-124-71-5.
Dates of importance:
 Last day to trade in order to participate in the dividend                                  Tuesday, 8 November 2022
 Shares trade ex dividend                                                               Wednesday, 9 November 2022
 Record date                                                                                 Friday, 11 November 2022
 Payment date                                                                              Monday, 14 November 2022

Share certificates may not be dematerialised or rematerialised between Wednesday, 9 November 2022, and Friday,
11 November 2022, both days inclusive.

In terms of the Company’s Memorandum of Incorporation, dividends will only be transferred electronically to the bank
accounts of shareholders. In the instance where shareholders do not provide the Transfer Secretaries with their banking
details, the dividend will not be forfeited but will be marked as “unclaimed” in the share register until the shareholder
provides the Transfer Secretaries with the relevant banking details for payout.

DIRECTORS’ STATEMENT
The directors, who take responsibility for the contents of this short-form announcement, present the audited results of
Remgro for the year ended 30 June 2022. The preparation of the Group’s consolidated results was supervised by the
Chief Financial Officer, Neville Williams CA(SA).

The financial information in this short-form announcement is a summary only and does not contain full details of the
consolidated financial results. Accordingly, any investment decisions should be based on information contained in the
full announcement, published and available at
https://senspdf.jse.co.za/documents/2022/JSE/ISSE/REM/REMJun2022.pdf and on the Company’s website at
www.remgro.com.

The consolidated Annual Financial Statements (AFS) were audited by PricewaterhouseCoopers Inc., who issued an
unmodified audit opinion on the consolidated AFS. The consolidated AFS, which includes the auditor's report (with Key
Audit Matters) issued on the consolidated AFS, are available on the Company’s website at www.remgro.com.

BASIS OF PREPARATION OF FINANCIAL INFORMATION
These results have been prepared in accordance with paragraph 3.46 of the Listings Requirements of the JSE Limited,
which has been applied consistently to both years.

RESULTS WEBCAST AND PRESENTATION
Shareholders and other interested parties are invited to join management in discussing Remgro's year-end results via
webcast at 09:00 am SAST on Tuesday, 27 September 2022 at the following link:

https://services.themediaframe.com/links/remgro10042895.html

The Integrated Annual Report will be mailed to those shareholders who requested to receive a hard copy and will be
available on the website during October 2022.

Signed on behalf of the Board of Directors.


Johann Rupert                                                                      Jannie Durand
Chairman                                                                           Chief Executive Officer

Stellenbosch
Approved by the Board: 26 September 2022
SENS release date: 27 September 2022
DIRECTORATE

Non-executive directors
Johann Rupert (Chairman), F Robertson* (Deputy Chairman),
S E N De Bruyn*, N P Mageza*, J Malherbe, P J Moleketi*,
M Morobe*, P J Neethling, G G Nieuwoudt*,
K S Rantloane*, A E Rupert
(* Independent)

Executive directors
J J Durand (Chief Executive Officer),
M Lubbe, N J Williams

CORPORATE INFORMATION

Secretary
D I Dreyer
Listings
Primary listing - JSE Limited
Sector: Financials – Financial Services – Investment Banking and Brokerage Services – Diversified Financial Services
Secondary listing – A2X

Business address and registered office
Millennia Park, 16 Stellentia Avenue, Stellenbosch 7600
(PO Box 456, Stellenbosch 7599)

Transfer Secretaries
Computershare Investor Services Proprietary Limited,
Rosebank Towers, 15 Biermann Avenue, Rosebank 2196
(Private Bag X9000, Saxonwold 2132)

Auditors
PricewaterhouseCoopers Inc.
Stellenbosch, South Africa

Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

ACCESS TO INFORMATION

The financial results:
• can be viewed on www.jse.co.za;
• can be viewed online at www.remgro.com;
• are available for inspection at the Company’s registered office and the offices of the sponsor at no charge, during
  normal business hours from 27 September 2022; or
• may be requested in printed format from Ms D I Dreyer, tel: +27 21 888 3373.

FOR MORE INFORMATION

www.remgro.com