Slide 1: Unaudited condensed consolidated interim results for the six-month period ended 31 August 2025
Focus. Commitment. Purpose. LIMITED Unaudited condensed consolidated interim results for the six-month period ended 31 August 2025 The unaudited condensed consolidated interim results have been prepared under the supervision of Chief Financial Officer, Tafadzwa Mika CA(SA)
Slide 2: Salient features
Salient features REVENUE AND INSURANCE PREMIUM REVENUE R356.6 million compared to R327.8 million at 31 August 2024 OPERATING PROFIT OF R41.9 million compared to R38.4 million at 31 August 2024 PROFIT AFTER TAX R24.7 million compared to R22.8 million at 31 August 2024 Vunani Limited Unaudited condens
Slide 3: Condensed consolidated statement of comprehensive income
Condensed consolidated statement of comprehensive income for the sixmonth period ended 31 August 2025 Unaudited Unaudited 31 August 31 August Figures in R000 2025 2024 Revenue 1 221 772 204 377 Insurance service result 22723 25 264 Insurance revenue 2 134 781 123 383 Insurance service expenses (101
Slide 4: Condensed consolidated statement of financial position
Condensed consolidated statement of financial position at 31 August 2025 Unaudited Audited 31 August 28 February Figures in R'000 Notes 2025 2025 Assets Property, plant and equipment* 35 168 38 772 Goodwill 139 766 139 766 Intangible assets 93 570 98 777 Investments in jointly controlled ventures 8
Slide 5: – Audited
– Audited – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – –
Slide 6: Condensed consolidated statement of cash flows
Condensed consolidated statement of cash flows for the sixmonth period ended 31 August 2025 Unaudited Unaudited 31 August 31 August Figures in R000 2024 Cash flows from operating activities Net cash generated by operating activities 11 38 861 32 762 Investment revenue received - 1 Finance income rec
Slide 7: Segmental reporting
Segmental reporting for the sixmonth period ended 31 August 2025 The group has five reportable segments being fund management, asset administration, advisory services, institutional securities broking and insurance. The fund management segment is geographically located in South Africa and Botswana.
Slide 8: Notes to the condensed consolidated financial statements
Notes fo the condensed consolidated financial statements (all figures in R'000) BASIS OF PREPARATION The condensed consolidated interim financial statements are prepared in accordance with International Financial Reporting Standard, IAS 34 Interim Financial Reporting and Financial Pronouncements as
Slide 9: Notes: other income, fair value adjustments, investment revenue
Unaudited Unaudited 31 August 31 August Figures in R’000 2025 2024 3. Other income Sundry income 4 105 2 845 Directors’ fees 188 177 4 293 3 022 4. Fair value adjustments and net changes to third party and contract liabilities Fair value adjustments on insurance-related investments 50 542 35 394 Net
Slide 10: Notes to the condensed consolidated financial statements (continued)
Notes fo the condensed consolidated financial statements (continued) Unaudited Unaudited 31 August 31 August Figures in R’000 2025 2024 8. Operating expenses The below expenses detail the significant operating expenses: Staff costs 135 517 129 068 Insurance service expenses 101 509 96 202 9. Reconci
Slide 11: Notes to the condensed consolidated financial statements (continued)
Notes to the condensed consolidated financial statements (continued) 11. Net cash generated by operating activiti Unaudited Unaudited 31 August 31 August Figures in R‘000 2024 Profit before income tax expense 31 585 Adjusted for: Depreciation of property, plant and equipment 2 267 2479 Depreciation
Slide 12: Notes to the condensed consolidated financial statements (continued)
Notes to the condensed consolidated financial statements (continued) inancial instruments carried at fair value A financial instrument is regarded as quoted in an active market if quoted prices are readily available from an exchange, industry group, pricing service or regulatory agency, and those pr
Slide 13: Financial instruments carried at fair value (continued)
Notes to the condensed consolidated financial statements (continued) 12. Financial instruments carried at fair value (continued) Unaudited Audited 31 August 28 February 2025 2025 Carrying Carrying Figures in R‘000 amount Fair value amount Fair value Financial assets measured at fair value Insurance-
Slide 14: Notes: related parties, events after reporting date, going concern
Notes to the condensed consolidated financial statements (continued) 13. 14. 15. Related-party transactions Related-party transactions similar to those disclosed in the group’s financial statements for the year ended 28 February 2025 took place during the period under review. Events after reporting
Slide 15: Overview and prospects
Overview and prospects Vunani Limited’s 2025/26 financial year commenced amidst elevated levels of global geopolitical tension as the wars in Ukraine and in Palestine dragged on. The economic scene was further shocked by President Trump’s announcement in early April of a sweeping tariff dispensation
Slide 16: Overview and prospects continued
Overview and prospects continued Fund management The fund management segment includes the group's investments in Vunani Fund Managers Proprietary Limited ("VFM") and Vunani Fund Managers Botswana Proprietary limited (VFMB”}. The segment reported revenue of R70.6 million for the period (2024: R69.2 m
Slide 17: Overview and prospects continued
Overview and prospects continued Insurance-related investments increased _ from R683.0 million to R765.8 million as a result of the acquisitions and returns generated from the investments by Oracle Insurance. Investment contracts and third- party liabilities were fair valued at 31 August 2025 which
Slide 18: Incorporated in the Republic of South Africa
(Incorporated in the Republic of South Africa) (Registration number: 1997/020641/06) JSE code: VUN ISIN: ZAE000163382 Listed on the JSE Limited (“JSE”) and secondary listing on A2X (“Vunani” or “the company” or “the group”) vunanilimited.co.za