DENEB INVESTMENTS LIMITED - Unaudited Interim Results Announcement for the Six Months Ended 30 September 2025

Unaudited Interim Results Announcement for the Six Months Ended 30 September 2025

DENEB INVESTMENTS LIMITED
Registration number: 2013/091290/06
(Incorporated in the Republic of South Africa)
JSE share code: DNB
ISIN: ZAE000197398
("Deneb" or the "Group")

UNAUDITED INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED
30 SEPTEMBER 2025

1.   SALIENT FEATURES

     Revenue increased by R390.3 million (22%) to R2 131.1 million, from R1 740.8 million in
     the prior corresponding period.

     Headline earnings per share ("HEPS") increased by 8.95 cents per share (101%) to
     17.82 cents per share, from 8.87 cents per share in the prior corresponding period.

     Earnings per share ("EPS") increased by 9.03 cents per share (102%) to 17.90 cents per
     share, from 8.87 cents per share in the prior corresponding period.

     Net asset value per share ("NAVPS") increased by 23 cents per share (6%) to 440 cents
     per share, from 417 cents per share in the prior corresponding period.

     Profit increased by R41.5 million (108%) to R79.9 million, from R38.4 million in the prior
     corresponding period.

     No distribution was declared for the six months ended 30 September 2025 (2024: Nil).


2.   SHORT-FORM ANNOUNCEMENT

     This short-form announcement is the responsibility of the directors of Deneb. It contains
     only a summary of the information included in the full announcement ("Full
     Announcement") and does not contain full or complete details. The Full Announcement
     can be found at:

     https://senspdf.jse.co.za/documents/2025/JSE/ISSE/DNBE/dnbSep25.pdf

     A copy of the Full Announcement is also available for viewing on the Company's website
     at www.deneb.co.za.

     The financial information in this short-form announcement has been extracted from the
     unaudited condensed consolidated interim financial results of the Group for the six
     months ended 30 September 2025.
     Neither this short-form announcement nor the interim results have been audited or
     reviewed by the Group's auditors.

     Any investment decisions by investors and/or shareholders should be based on
     consideration of the Full Announcement, as a whole.

Cape Town
27 November 2025

Sponsor
PSG Capital

Date: 27-11-2025 09:00:00
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