CLI Change statement, and notice of AGM, Posting of Annual report and B-BBEE Compliance certificate CLIENTELE LIMITED Incorporated in the Republic of South Africa) Registration Number: 2007/023806/06) Share code: CLI ISIN: ZAE000117438 (?Clientele?) Change statement, notice of annual general meeting, publication of Integrated Annual Report and B-BBEE Compliance Certificate Integrated Annual report Shareholders are advised that the company?s integrated annual report including the audited annual financial statements for the year ended 30 June 2020 has been published and is available on the Company?s website: https://www.clientele.co.za/investor-relations/annual-reports, and contains modifications to the reviewed results which were announced on SENS on 19 August 2020. The annual financial statements were audited by the Company?s auditors, PricewaterhouseCoopers Inc. and their unmodified report which includes Key Audit Matters, is included in the integrated annual report and also available for inspection at the companies registered office. Change Statement The change statement highlights the change between the integrated annual financial statements and published reviewed results on 19 August 2020, none of which were major. These changes had no impact on earnings per share, net asset value, tangible net asset value and/or the amounts presented in the statement of financial position and statement of changes in equity. The impact of the change on the financial results is detailed below: 1) Reclassification of an IFRS16 elimination journal entry from ?Other Income? to ?Operating Expenses? As buildings are classified as ?owner occupied?, the effects of IFRS16 in the operating entities are eliminated on consolidation. The elimination entry amounting to R16.586 million was incorrectly debited to ?Other Income? as opposed to ?Expenses? in the Condensed Preliminary Group Results. This has been corrected in the Integrated Annual Report. This adjustment has no effect on ?Profit before taxation?. The effect of the correction is to increase ?Other income? by R16.586 million and increase ?Expenses? by R16.586 million. 2) Reclassification of related party ?Other Income? to ?Operating Expenses? A guarantee fee is paid by the holding company of the Group on behalf of its subsidiaries. The subsidiaries repay the holding company accordingly. The net effect of this on the group is nil. The income received by the holding company from its subsidiaries was therefore reclassified from ?Other Income? and included in ?Operating Expenses?. This adjustment has no effect on ?Profit before taxation?. The effect of the correction is to reduce ?Other income? by R4.463 million and reduce ?Operating Expenses? by R4.463 million. 3) Reclassification from ?Other Income? to ?Revenue from Contracts with Clients? Rewards fee income earned was reclassified from ?Other Income? to ?Revenue from Contracts with Clients.? This adjustment has no effect on ?Profit before taxation?. The effect of the correction reduced ?Other income? by R6.196 million and increased ?Revenue from Contracts with Clients? by R6.196 million. The effects of Notes 1, 2 and 3 above on ?Other Income? are as follows: Per Per Adjustment preliminary Annual R?000 results Report R?000 R?000 Other Income 42,049 47,976 5,927 The effects of Notes 1 and 2 above on ?Operating Expenses? are as follows: Per Per Adjustment preliminary Annual R?000 results Report R?000 R?000 Operating 1,385,999 1,398,122 12,123 Expenses The effects of Note 3 above on ?Revenue from Contracts with Clients? is as follows: Per Per Adjustment preliminary Annual R?000 results Report R?000 R?000 Revenue from 117,391 123,587 6,196 Contracts with Clients 4) Correction of ?Headline Earnings?, and accordingly ?Headline Earnings per share? An asset impairment (net of tax) amounting to R0.653 million that should have been adjusted for in arriving at the Headline Earnings within the Condensed Preliminary Group Results was erroneously omitted. This adjustment has been made in the Integrated Annual Report. The effect of this change is as follows: - Headline earnings increased by R0.653 million; - Headline earning per share increased by 19 cents per share; - Diluted headline earnings per share increased by 21 cents per share. The effect of Note 4 above is as follows: Per Per Annual Adjustment preliminary Report R?000 results R?000 R?000 Headline 331,914 332,567 0,653 Earnings Headline 98.99 cents 99.18 cents 0.19 cents Earnings per Share Diluted 98.88 cents 99.09 cents 0.21 cents Headline Earnings per Share 5) Reclassification of a financial guarantee liability to ?Working capital changes? on the Statement of Cash Flows The movement in a financial guarantee liability amounting to R20 million was reclassified from ?Profit from operations adjusted for non-cash items? to ?Working Capital Changes.? The effect of the adjustment was an increase in ?Profit from operations adjusted for non-cash items? and decrease ?Working Capital Changes.? The adjustment did not impact the increase in cash and cash equivalents for the period. 6) Reclassification of useful life adjustment to depreciation Useful life adjustments on property and equipment amounting to R1.004 million have been reclassified to ?Profit from operations adjusted for non-cash items? from ?Cash flows from investing activities.? The useful life adjustment was incorrectly accounted for as a revaluation. The adjustment did not impact the increase in cash and cash equivalents for the period. The effect of Notes 5 and 6 above on the ?Statement of Cash Flows? is as follows: Per Per Adjustment preliminary Annual R?000 results Report R?000 R?000 Profit from 652,298 633,302 (18,996) operations adjusted for non-cash items Working (134,204) (114,204) 20,000 Capital Changes Cash flows (49,791) (50,795) (1,004) from investing activities Annual general meeting The annual general meeting of the members of Clientele will be held in the Boardroom, Building 7, Clientele Office Park, corner Rivonia and Alon Roads, Morningside on 29 October 2020 at 08:00 to transact the business as stated in the notice of the annual general meeting forming part of the annual report. The record date in terms of section 59(1) (b) of the Companies Act for shareholders to participate in and vote at the annual general meeting is Friday, 23 October 2020. Accordingly, the last date to trade in the Company's shares on the JSE Limited in order to be eligible to participate in and vote at this annual general meeting is Tuesday, 20 October 2020. Broad-Based Black Economic Empowerment Amendment Act No.46 of 2013 (?B-BBEE Act?): Annual Compliance Report. In accordance with paragraph 16.21(g) and Appendix 1 of Section 11 of the JSE listings requirements, notice is hereby given that Clientele?s annual compliance report, in terms of section 13G(2) of the B-BBEE Act, is available on the company?s website at www.clientele.co.za Johannesburg 25 September 2020 Sponsor PricewaterhouseCoopers Corporate Finance (Pty) Ltd Registration number 1970/003711/07) Date: 25-09-2020 05:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.