Texaf S.A. — Interim / Quarterly Report 2020

Nov 13, 2020

REGULATED INFORMATION INTERIM STATEMENT November 13th2020

The activities of the TEXAF group in the DRC have developed as follows over the course of the 3rd quarter.

• Rents generated by the real-estate activities (renting of residential property and office space in Kinshasa) reached EUR 4.8 m over the quarter, i.e. the same amount as in the same period of 2019. Vacancies, due to the DRC's borders being closed until August 15th to curb the diffusion of Covid-19, are being rapidly decreased.

The Petit-Pont project (3.000 m2 offices) will end in December. The three buildings of the Bois Nobles Phase II project, for a total of 33 apartments, will be available in stages from April till June 2021.

Petit-Pont construction site Bois Nobles construction site

• CARRIGRES (sandstone quarry in Kinshasa). Revenues for the 3rd quarter 2020 amount to EUR 0.8 million, i.e. 2% less than over the same period of last year as several large construction sites have been closed during the partial lockdown of Kinshasa. The business remains slightly profitable.
• TEXAF DIGITAL CAMPUS has gradually been restarting its activities after the lockdown had been lifted. TEXAF DIGITAL's first general manager, Raymond Mendy (ex-CEO of « Croissance TIC » in Dakar), took office mid-September.

Our partner KINSHASA DIGITAL (www.kinshasadigital.com) had launched its academy (www.kinshasadigital.academy) in the TEXAF DIGITAL CAMPUS at the beginning of the year and already trained 42 web developers. Now 25 of these developers are working on dozens of projects entrusted by European companies. Building on the success of this first year, their goal is to train and place 150 developers in European companies by 2022.

• IMPACT OF THE COVID-19 CRISIS

Considering the decrease in vacancies and despite the consequences of the August 8th fire, the group improves its outlook for the 2nd half-year compared to what had been announced early September and now expects gross revenues comparable to those of the 1st half.

TEXAF, established in 1925, is the only listed company with all its activities in the Democratic Republic of Congo. Currently, these are concentrated on property, quarries and the digital domain. This listing on the stock exchange and the resulting obligations in terms of good governance and transparency constitute a major asset of the Group for its development and for the promotion of the formal sector in the Democratic Republic of Congo.

Contact: Philippe Croonenberghs, Chairman: +32 495 24 32 64 Jean-Philippe Waterschoot, CEO: +32 476 25 26 26 - +243 81 891 0525 Christophe Evers, CFO: + 32 495 24 32 60