CLIENTELE LIMITED — Earnings Release 2025

Feb 23, 2026

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Clientèle Limited Registration number 2007/023806/06 Share code: CLI ISIN: ZAE000117438 ("Company" or "Group")

Trading statement update for the six-month period ended 31 December 2025

In terms of the Listings Requirements of the JSE Limited, a listed company must publish a trading statement once it is satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported will diƯer by at least 20% from reported financial results for the previous corresponding period.

When reviewing the financial results in this announcement, shareholders are encouraged to appreciate the impact of the once-oƯ recognition in the prior period of a bargain purchase gain of R403 million restated (reported: R469 million) arising from the fair value measurement at the date of acquisition of 1Life. This gain is not included in the Group's Headline Earnings per share ("HEPS").

In addition, shareholders are advised that in the reporting period ended 30 June 2025, following the first 12 month consolidation of 1Life into the Group, various changes to the application of IFRS 17 were adopted primarily relating to a review of contract boundaries on a cohort of contracts, which resulted in the restatement of the 31 December 2024 interim financial results, which will be clearly explained in the full Interim Period results.

A review by management of the financial results for the six-months ended 31 December 2025 ("Interim Period") has indicated that, taking account of the above and the first-time consolidation of the newly acquired wholly owned subsidiary, Emerald Life Proprietary (Limited), ("Emerald"):

• the Group's headline earnings per share ("HEPS") is expected to increase by between 92% and 112% resulting in an increase to between 98.41 cents and 108.66 cents, when compared to the HEPS of 51.25 cents for the Comparative Period.
• the Group's earnings per share ("EPS") is expected to decrease by between 24% and 44% resulting in a decrease to between 119.22 cents and 87.85 cents, when compared to the EPS of 156.85 cents for the Comparative Period, as explained above.

On a restated basis, the Group's EPS is expected to decrease by between 25% and 45% when compared to the restated EPS of 158.27 cents for the Comparative Period. Similarly, the Group's HEPS is expected to increase by between 43% and 63% when compared to the restated HEPS of 67.51 cents for the Comparative Period.

The Group remains in a sound solvency and liquidity position and has continued to generate strong positive cash flows.

The financial information on which this trading statement is based has not been reviewed or reported on by the Company's auditors. The Group's interim financial results are expected to be released on SENS on or about 02 March 2026.

23 February 2026 Sponsor PricewaterhouseCoopers Corporate Finance Proprietary Limited