Slide 1: RMH Investor Call
RMH INVESTOR CALL Results for the year ended 31 March 2023 11 July 2023 Strictly private and confidential
Slide 2: Agenda
AGENDA 1 FINANCIAL PERFORMANCE 2 APH LOAN UPDATE 3 Q&A 2
Slide 3: Financial Performance
1 FINANCIAL PERFORMANCE Results for the year ended 31 March 2023
Slide 4: The Evolution of RMH
THE EVOLUTION OF RMH RMH is an investment holding company with a long history of shareholder value creation. RMH’s current strategy is to monetise the assets in its portfolio Momentum, RMI is RMH Property invests in The unbundling Changes R1.1 billion Atterbury FirstRand’s unbundled Atterbury as div
Slide 5: Financial Performance
FINANCIAL PERFORMANCE • For the year under review, RMH’s net asset value decreased by 64% from R3 910 million at 31 March 2022 to R1 416 million at 31 March 2023 • This decrease was predominantly as a results of : o The disposal of RMH’s interest in Atterbury Europe, including the operational loan,
Slide 6: Financial Performance
FINANCIAL PERFORMANCE Relative distribution of assets (%) The decrease in profit is mainly as a result of: • Higher interest rate= R30 million • A decrease in FV of Divercity and Ascencia-linked 13 preference shares, a decrease in FV of financial guarantee contract and an increase on ECL on Atterbur
Slide 7: RMH Net Asset Value Composition
RMH NET ASSET VALUE COMPOSITION RMH PROPERTY’S INVESTMENTS AS 31 MARCH 2023 % held 27.5% Various % 11.4% 100% December 2016 and Date acquired July 2016 October 2018 July 2016 September 2018 Cost of equity (R million) 484 32 157 Contribution to RMH 61 26 13 100 Property (%) Carrying value, including
Slide 8: RMH Net Asset Value
RMH NET ASSET VALUE BREAKDOWN OF RMH NET ASSET VALUE (R’million) NAV at 31 March 2022 NAV at 31 March 2023 8
Slide 9: APH Loan Update
2 APH LOAN UPDATE
Slide 10: APH Loan Update
APH LOAN UPDATE ‒ Since November 2022, RMH and APH have explored a number of possible solutions to ensure the timeous repayment of the R487 million loan extended by RMB to APH. ‒ As announced on 30 June 2023, RMH had reached an in-principal agreement with APH to enter into an arbitration process. Th
Slide 11: APH Loan Update
APH LOAN UPDATE ‒ RMH cannot accept that the reason why APH cannot repay the R487 million loan is as a result of the unintended consequence of a restructure of the Atterbury Group that has resulted in the original Borrower, as defined in the loan agreement, being an investment holding company with n
Slide 12: Q&A
3 Q&A
Slide 13: Q&A Answers to Questions Received
Q&A ANSWERS TO QUESTIONS RECEIVED Please provide more detail about the various creditors amounting to R110 million on 31 March 2023? • Unclaimed dividends = R29 million • Provision for S164 = R58 million • Leave pay =R 3 million • LTI = R11 million • Financial guarantee =R 5 million • Other =R 4 mil