iOCO LIMITED - Results announcement: Audited financial results for the year ended 31 July 2026 and guidance for FY27

Results announcement: Audited financial results for the year ended 31 July 2026 and guidance for FY27

iOCO LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/014669/06)
JSE share code: IOC ISIN: ZAE000071072
("iOCO" or "the Company" or "the Group")


RESULTS ANNOUNCEMENT: AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31 JULY 2026 AND GUIDANCE FOR FY27


iOCO is pleased to provide shareholders with an operational and financial update for the year ended 31 July 2026
("FY26").

The Group delivered an outstanding and resilient financial performance, underpinned by disciplined execution and
continued focus on Group profitability. The results show sustained revenue growth driving operational leverage and
demonstrate the benefits of the Group’s strategic capital allocation framework.

Salient financial features
    - Headline earnings per share ("HEPS") and earnings per share (EPS) increased by 42% to 57 cents (FY25:
      40 cents).
    - Profit after tax increased by 39% to R357 million (FY25: R258 million).
    - Adjusted EBITDA increased by 21% to R624 million (FY25: R516 million).
    - EBITDA increased by 18% to R610 million (FY25: R516 million).
    - Net finance costs reduced by 32% to R61 million (FY25: R89 million), reflecting ongoing balance sheet
      optimisation.
    - The Group's largest segment, IT Services, delivered revenue growth of 4%.
    - Total Group revenue increased by 3% to R5.73 billion (FY25: R5.58 billion) on a constant currency basis.

Salient operational features
FY26 demonstrated the resilience of the Group's diverse business model and effective strategic execution. The
improvement in profitability, operational efficiency and earnings quality reflects the successful implementation of
management's three-step strategy: cost rationalisation, decentralisation and disciplined capital and resource allocation.

Operationally, the Group continued to demonstrate consistent improvement, supported by a culture of accountability
and cost discipline. As a result, EBITDA margins improved from 9% to 11%. Operational efficiency drove earnings
growth to be materially ahead of revenue growth, demonstrating the scalability of the Group's operating model.

Capital allocation remains a focus area for the Group. Management maintained a disciplined and balanced approach to
capital allocation, investing across share repurchases and strategic acquisitions.
Two acquisitions were successfully concluded towards the end of the period. These transactions support iOCO's strategy
of enhancing its technology capabilities and expanding customer relevance. The Group continues to actively pursue a
buoyant acquisition pipeline. iOCO provides an attractive home for founder-led tech businesses looking to scale by
accessing the Group’s broad platform.

The Group's improved recurring revenue profile remains a key strength, providing revenue resilience, strong customer
retention and improved visibility over future cash flows.

FY27 Outlook
Based on current trading conditions and barring any unforeseen economic or market disruptions, the Board expects the
Group to deliver the following in FY27:
   - EBITDA of at least R680 million.
   - Improving cash generation and conversion.
   - Recurring revenue in excess of 60%.
   - Continued disciplined capital allocation through organic investment, strategic acquisitions, balance sheet
     optimisation and shareholder returns.

The Board remains confident in the Group's strategy. The momentum built during FY26 has carried into a positive start
to FY27, and the Board is encouraged by that progress. Together, organic growth and strategic investment opportunities
give the Board optimism about iOCO's future direction.

Guidance Assumptions
The guidance is based on the following key assumptions:
   - Assumptions within the Group’s control assume no material impacts on the abovementioned performance
     measures due to unplanned developments within the Group’s operations.
   - Assumptions not within the Group’s control assume no major disruptions to business conditions within South
     Africa and globally, no unforeseen deterioration of the macroeconomic environment, a stable political
     environment and no significant tax, interest rate or exchange rate changes in the Group’s operating jurisdictions.
   - This also assumes that the ongoing Middle East conflict does not lead to prolonged regional instability or
     sustained adverse market and financial impacts beyond those already observed.

This guidance has been prepared in terms of the International Financial Reporting Standards and is consistent with the
Group’s accounting policies. The guidance is the responsibility of the Board and has not been reviewed or reported on
by the Group’s auditors.

The presentation of the Group’s annual results hosted by the Group Chief Executive Officer Rhys Summerton and Group
Chief Financial Officer Ashona Kooblall may be viewed via a webinar at 09h00 on 14 October 2026, by following the
link: https://www.ioco.tech/investor-relations/.

Shareholders are advised that iOCO’s annual integrated report, incorporating the audited financial statements for the
year ended 31 July 2026 ("2026 AFS") will be made available by 20 October 2026, on the Company’s website at:
https://www.ioco.tech/investor-relations/.

The annual general meeting ("AGM") will be held on Wednesday, 18 November 2026 at 10:00 am by way of electronic
participation. The notice of AGM together with the audited financial statements for the year ended 31 July 2026 will be
dispatched to shareholders by no later than Tuesday, 20 October 2026 and will be made available on the Company’s
website.

This results announcement is the responsibility of the directors of iOCO. This results announcement is only a summary
of the information contained in the 2026 AFS. The 2026 AFS have been released on SENS and is available on the JSE’s
website at https://senspdf.jse.co.za/documents/2026/jse/isse/IOCE/FY2026.pdf.

The 2026 AFS have been audited by the Group’s external auditors, Moore Johannesburg Inc. who have expressed an
unqualified audit opinion thereon. The audit report is included in the 2026 AFS which is available on the Company’s
website at https://www.ioco.tech/investor-relations/.

This results announcement has not been audited or reviewed by the Company's external auditors. Any investment
decisions by investors and/or shareholders should be based on a consideration of the 2026 AFS published on iOCO’s
website as a whole.

13 October 2026


Sponsor
Java Capital
Date: 13/10/2026 05:00:00
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