ZCCM Investments Holdings PLC

Earnings Release • Aug 31, 2023

SENS ANNOUNCEMENT

(the "Announcement")

ISSUER

ZCCM INVESTMENTS HOLDINGS PLC ("ZCCM-IH")

Incorporated in the Republic of Zambia Company registration number: 119540000771 Share Code: ZCCM-IH ISIN: ZM0000000037

BROKER

Pangaea Securities Limited

[a member of the Lusaka Securities Exchange]

Regulated and Licensed by the Securities and Exchange Commission Zambia

Telephone Number:	+260 211 220707		Website:	www.pangaea.co.zm
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AUTHORISATION

Approval for this Announcement has been granted by:

• The Lusaka Securities Exchange ("LuSE")
• The Securities and Exchange Commission Zambia ("SEC")
• ZCCM-IH

DISCLAIMER AND RISK WARNING

The announcement contained herein contains information that may be of a price sensitive nature.

Investors are advised to seek the advice of their investment advisor, stockbroker, or any professional duly licensed by the Securities and Exchange Commission of Zambia to provide securities advice.

ISSUED ON: 31 August 2023

ZCCM INVESTMENTS HOLDINGS PLC (Incorporated in the Republic of Zambia) Registration number: 119540000771 Share code: ZCCM-IH ISIN: ZM0000000037

TRADING STATEMENT

In accordance with the Lusaka Securities Exchange ("LuSE") Listings Requirements, the Board of Directors of ZCCM Investments Holdings Plc ("ZCCM-IH" or the "the Company") and its subsidiaries (collectively referred to as "the Group") hereby advise the Shareholders of the Company that the Earnings per Share ("EPS") for the Half Year Ended 30 June 2023 for the Group and Company are expected to be lower approximately 194.80% and 54.58%, respectively, compared to the Half Year Ended 30 June 2022.

The Group's movement in EPS was primarily attributed to a 194.80% increase in losses to ZMW2.41 billion (USD125.84 million) compared to ZMW817.35 million (USD47.70 million) in the six months period ended 30th June 2022. This was underpinned by Mopani Copper Mines Plc's contributed loss of ZMW4.02 billion (USD209.87 million). Mopani's underperformance is due to increased cost of production, lower copper production, significant finance cost of ZMW1.54 billion (USD 80.29 million) (2022: ZMW 563 million (USD 31.74 million), investment asset impairment and fair value adjustment of ZMW6.7 billion (USD 302.8 million).

The Company's movement in EPS was attributed to a 54.58% reduction in profit to ZMW551.49 million (USD28.80 million) from ZMW1.21 billion (USD70.85 million) in 2022. The notable profit in 2022 was due to a substantial dividend payment from Kansanshi Mining PLC of ZMW769.80 million (US\$43.5 million), in the prior year, which accounted for a significant portion of the revenue collected. Additionally, profit after tax in the half-year period 2023 was adversely affected by an increase in the income taxes to ZMW 222.2 million (US\$ 11.63 million) from ZMW 2.4 million (US\$ 131 thousand) recorded in 2022.

ZCCM-IH expects that the Unaudited Half Year Results for the period ended 30 June 2023 to be released on the Securities Exchange News Services ("SENS") and published in the local press on or about 1 st September 2023. Accordingly, shareholders are advised to exercise caution when dealing in the Company's Securities until publication of the results.

Shareholders are advised that the information contained in this trading statement has not been reviewed or reported on by the external auditors of the Company.

Charles Mjumphi Company Secretary

Lusaka, Zambia – 31 August 2023

Sponsoring Broker Pangaea Securities Limited (Member of the Lusaka Securities Exchange) (Regulated by the Securities and Exchange Commission)

Tel: +260 (211) 220 707 or 238 709 / 16 Fax +260 (211) 220 925 First Floor, Pangaea Office Park, Great East Road, P.O. Box 30163 Lusaka, Zambia First Issued: 31 August 2023

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