Summary of Condensed Unaudited Group Financial Results and Dividend Declaration for the Six Months Ended 31 December BOWLER METCALF LIMITED (Registration number 1972/005921/06) Share code: BCF ISIN number: ZAE000030797 (“the Company”) SUMMARY OF CONDENSED UNAUDITED GROUP FINANCIAL RESULTS AND DIVIDEND DECLARATION FOR THE SIX MONTHS ENDED 31 DECEMBER 2020 % 2020 Change 2019 Net asset value – R’mil 703.9 +6 663.0 Earnings – R’mil Revenue 331.0 +12 296.8 Profit from operations 59.9 +34 44.8 Net profit before tax 67.8 +14 42.8 Net profit after tax 48.8 +14 42.8 Attributable to parent Net profit after tax 48.8 +14 42.8 Total comprehensive income 48.8 +14 42.8 Earnings – cents per share Earnings 67.6 +26 53.5 Headline earnings 67.6 +26 53.5 Dividends – cents per share Final previous year paid 29.50 +18 25.00 Interim – payable 29 March 2021 19.40 +14 17.00 An ordinary interim gross cash dividend, as defined by the Income Tax Act, of 19.40 cents per share ("cps") for the six months ended 31December 2020 (2019: 17.00 cps) has been declared and is payable to shareholders on Monday, 29 March 2021. The last day to trade will be Tuesday, 23 March 2021, the ex date is Wednesday, 24 March 2021 and the record date will be Friday, 26 March 2021. Share certificates may not be dematerialised or re-materialised between Wednesday, 24 March 2021 and Friday, 26 March 2021, both days inclusive. The directors confirm that the solvency and liquidity test is satisfied at the date of this announcement. This dividend will be made from income reserves. The gross dividend is 19.40 cps. Dividend Withholding Tax (DWT) is 20%. The net local cash dividend to shareholders liable for DWT will therefore be 15.52 cps. The number of shares in issue (including treasury shares) at the date of declaration is 78 326 023. The short-form announcement is the responsibility of the directors and is only a summary of the information in the full announcement released on SENS on 8 February 2021 (“Full Announcement”) and does not contain full or complete details. Any investment decisions by investors and/or shareholders should be based on consideration of the Full Announcement published on SENS and the Company’s website as a whole. The Full Announcement can be found on the Company’s website at www.bowlermetcalf.co.za and also at the following link: https://senspdf.jse.co.za/documents/2021/JSE/ISSE/BCF/BCFIR20.pdf Copies of the Full Announcement may also be requested at the Company’s registered office and at the offices of the sponsor, at no charge, by phoning the Company or the sponsor during office hours on +27 21 704 2223 or +27 11 480 8500, respectively. Any investment decision should be based on the Full Announcement as a whole, as published on SENS and on the Company's website. CAPE TOWN 8 February 2021 Sponsor AcaciaCap Advisors Proprietary Limited Date: 08-02-2021 05:05:00 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.