PPC LIMITED - Trading Statement for the six months ended 30 September 2026

Trading Statement for the six months ended 30 September 2026

PPC Ltd
(Incorporated in the Republic of South Africa)
(Company registration number 1892/000667/06)
JSE ISIN: ZAE000170049
JSE code: PPC / ZSE code: PPC
(“PPC” or “the group”)

TRADING STATEMENT FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2026

PPC is currently finalising its results for the six months ended 30 September 2026 (“the current period”).

Shareholders are advised that PPC is satisfied that a reasonable degree of certainty exists that the
expected earnings per share (“EPS”) and headline earning per share (“HEPS”) for the current period
will differ by 20% or more from that of the previous corresponding period, being the six months ended
30 September 2025 (“the prior period”). Accordingly, a trading statement is required in terms of the JSE
Listings Requirements.

The following EPS and HEPS for the group are expected:

                                                                           Current period       Prior period
                                                                        Expectation range

EPS and HEPS (cents)                                                       30.00 to 34.50                 25
EPS and HEPS (cents) – after pro forma adjustment *                        35.00 to 40.50               30**


* adjusting EPS and HEPS for realised and unrealised foreign exchange losses on foreign exchange contracts 
taken out to hedge US$ exposure on the construction of RK3, the new integrated cement plant in the Western Cape 
(the “FEC Contracts”).

** the previously published pro forma EPS and HEPS for the prior period was 29 cents which only catered for 
an adjustment for the unrealised foreign exchange losses on the FEC Contracts.

Based on the above, EPS and HEPS are expected to be between 20% and 38% higher than the EPS
and HEPS reported for the prior period.

The US dollar exposure on the construction of RK3 was fully hedged to de-risk PPC’s balance sheet.
During the current period the rand strengthened against the US dollar, and foreign exchange losses
(both realised and unrealised) were incurred. After adjusting for the after-tax impact of these losses, the
pro forma EPS and HEPS are expected to be between 17% and 35% higher than the pro forma EPS
and HEPS for the prior period (as adjusted for the realised and unrealised foreign exchange losses on
the FEC Contracts).

The increase in both EPS and HEPS reflects the continued momentum of the ‘Awaken the Giant’
turnaround, delivering increasingly tangible benefits to the group’s earnings.

The financial information on which this trading statement is based is the responsibility of the directors
of PPC and has not been reviewed or reported on by the group's independent external auditor. Full
details of the group’s performance will be contained in the group’s unaudited consolidated financial
statements for the six months ended 30 September 2026, which are expected to be released on or
about 16 November 2026.


Rosebank
05 November 2026

Sponsor
Questco Corporate Advisory Proprietary Limited
Date: 05/11/2026 07:05:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.