Trading statement for the year ended 30 June 2025

MOMENTUM GROUP LIMITED
Incorporated in the Republic of South Africa
Registration number: 2000/031756/06
JSE share code: MTM
A2X share code: MTM
NSX share code: MMT
ISIN code: ZAE000269890
("Momentum Group" "the Group")

MOMENTUM METROPOLITAN LIFE LIMITED
Incorporated in the Republic of South Africa
Registration number: 1904/002186/06
Company code: MMIG
LEI: 378900E0A78B7549C212
("Momentum Metropolitan Life")


Trading statement for the year ended 30 June 2025

Momentum Group is currently in the process of finalising its results for the year ended 30 June 2025 ("F2025"
or "the current year"). Pursuant to paragraph 3.4(b) of the JSE Limited ("JSE") Listings Requirements, this
trading statement provides an indication of the expected ranges of the Group's earnings per share, headline
earnings per share and diluted normalised headline earnings ("NHE") per share compared to the reported
results for the year ended 30 June 2024 ("F2024" or "the prior year").



                                                      F2025             F2024
                                                     (cents)           (cents)     Change (cents)            Change %
Earnings per share                             431.0 to 459.3           282.9       148.1 to 176.4        52% to 62%

Headline earnings per share                    432.0 to 461.8           298.6       133.4 to 163.2        45% to 55%

NHE (diluted) per share (1)                    435.5 to 466.5           309.7       125.8 to 156.8        41% to 51%


Momentum Group continued to deliver strong earnings this current year, with most business units contributing
meaningfully to the solid operational performance. The South African life businesses saw robust earnings from
the in-force book, supported by the release of the contractual service margin (notably from Momentum Retail
and Momentum Investments) as well as favourable experience variances, mainly from sustained positive
mortality and morbidity trends particularly in Momentum Corporate. Momentum Insure's earnings benefited
from continued pricing and claims discipline in a favourable underwriting environment, while Guardrisk
achieved meaningful growth in underwriting profit and management fee income. Earnings were further aided
by investment market performance and favourable yield curve impacts. The Group maintains its capital
strength, liquidity resilience and ability to generate cash earnings.

(1) NHE adjusts the JSE definition of headline earnings for the impact of finance costs related to preference shares that can
be converted into ordinary shares of the Group when it is anti-dilutive, the impact of treasury shares held by the iSabelo
Trust, the amortisation of intangible assets arising from business combinations and Broad-Based Black Economic
Empowerment ("B-BBEE") costs. Additionally, the iSabelo special purpose vehicle, which houses preference shares issued
as part of the employee share ownership scheme's funding arrangement, is deemed to be external from the Group, and
the discount at which the iSabelo Trust acquired the Momentum Group treasury shares is amortised over a period of 10
years and recognised as a reduction to NHE. NHE is the responsibility of the directors and is presented for illustrative
purposes only.

We look forward to releasing the full financial and operating results for the year ended 30 June 2025 before
the market opens on Wednesday, 17 September 2025 via the Stock Exchange News Services of the JSE
("SENS"), followed by a live webcast at 11:00. Pre-registration is required for the webcast, which can be
accessed at https://www.corpcam.com/MG17092025. In addition, the webcast will be broadcast live on
Business Day TV, DSTV Channel 412.

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

Centurion
25 August 2025



Equity sponsor
Tamela Holdings (Pty) Limited

Sponsor in Namibia
Simonis Storm Securities (Pty) Limited

Debt sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 25-08-2025 07:30:00
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