AFROCENTRIC INVESTMENT CORPORATION LIMITED - Trading statement for the year ended 31 December 2025

Trading statement for the year ended 31 December 2025

AFROCENTRIC INVESTMENT CORPORATION LIMITED
Incorporated in the Republic of South Africa
Registration Number: 1988/000570/06
JSE Code: ACT
ISIN: ZAE 000078416
("AfroCentric")

TRADING STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2025

In terms of paragraph 6.26 of the JSE Listings Requirements, companies are required to
provide guidance to the market as soon as they are satisfied that a reasonable degree of
certainty exists that the financial results for the period to be reported on will differ by at least
20% from the financial results for the previous corresponding period.

Accordingly, Shareholders are advised that AfroCentric expects that for the year ended 31
December 2025, the Group's:

   •   Loss per share for the current reporting period is expected to be between 150 cents
       and 153 cents reflecting a decrease of more than 100% in comparison to the loss of
       14.96 cents per share in the previous corresponding period (as previously reported);
       and
   •   Headline earnings per share for the current reporting period is expected to be between
       13.5 cents and 14.25 cents reflecting an increase of more than 100% in comparison to
       the headline profit per share of 3.80 cent in the previous corresponding period (as
       previously reported).

The expected change in earnings is primarily attributable to several factors, including:

   •   AfroCentric changing its financial year end from 30 June to 31 December in December
       2024, resulting in comparable prior period earnings and headline earnings per share
       results which are directly not comparable to the 12-month period reported for
       December 2025; and
   •   The recognition of impairment losses arising from (i) lower forecast earnings
       attributable to several Service Cluster entities, including Medscheme, following
       Bonitas' announcement of 29 January awarding several material contracts to other
       service providers from 1 June 2026 and (ii) the operational underperformance of Activo
       which has since been classified as Held For Sale.

The improvement in headline earnings is attributable to the resilient operational performance
of the local administration and managed care operations, as well as, sustained public market
retail performance. Headline earnings were further supported by higher earnings from
capitation lines of business, both in dental and managed care segments.

Further information will be provided in AfroCentric's results for the current financial period,
which are expected to be published on or about 3 March 2026.

The financial information on which this trading statement is based has not been audited,
reviewed, or reported on by AfroCentric's external auditors.


Johannesburg
2 March 2026

JSE Sponsor to AfroCentric
Questco Corporate Advisory Proprietary Limited

Date: 02-03-2026 04:30:00
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