AEG Reviewed interim condensed consolidated financial statements for the six months ended 31 December 2020 AVENG LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1944/018119/06) ISIN: ZAE000111829 SHARE CODE: AEG ("Aveng" or "the Group") Short-form SENS Announcement Reviewed interim condensed consolidated financial statements for the six months ended 31 December 2020 SALIENT FEATURES - Group revenue increased to R12,9 billion (December 2019: R11,2 billion) with core revenue increasing by 53% driven by improved performance at McConnell Dowell - Increase in operating earnings to R280 million (December 2019: R14 million) with McConnell Dowell, Moolmans, Trident Steel and Manufacturing all profitable - R314 million improvement in headline earnings to R109 million (0,6 cents per share) from a headline loss of R205 million (1,1 cents per share) - Earnings per share improved to 2,3 cents per share from a loss of 0,9 cents per share in the comparative period - R1,3 billion improvement in operating free cash flow to R1,4 billion (December 2019: R174 million) - R1 billion improvement in net cash position to R579 million, excluding lease liabilities (June 2020: R552 net debt position) - Increase in work in hand to R27,7 billion from R26,8 billion - McConnell Dowell added AUD1 billion to work-in-hand - Net asset value per share increased to 10,8 cents per share from 9,5 cents per share in the comparative period About Aveng Limited Aveng is an international infrastructure, resources and contract mining group operating in selected markets and capitalising on the expertise and experience within McConnell Dowell and Moolmans. The short-form announcement is the responsibility of the directors and is only a summary of information in the full announcement which is available on the companys website (www.aveng.co.za). This announcement does not contain full or complete details and any investment decisions by investors and/or shareholders should be based on consideration of the published SENS available on: https://senspdf.jse.co.za/documents/2021/JSE/ISSE/AEG/HY21Result.pdf Review opinion The interim results for the six month period ended 31 December 2020, have been reviewed by the Company's external auditors Ernst & Young Inc., in accordance with International Standard on Review Engagements ISRE 2410 Review of Interim Financial Information Performed by the Independent Auditors of the Entity ("ISRE 2410"). The unmodified review opinion is available on request from the Company Secretary at the Company's registered office. The full announcement is available for inspection at the registered office and/or the sponsors office, at no charge during office hours. 23 February 2021 Sponsors UBS South Africa Proprietary Limited Executive Directors SJ Flanagan (Group Chief Executive Officer) | AH Macartney (Group Finance Director) Non-Executive Directors PA Hourquebie (Independent Non-executive Chair) | MA Hermanus (Lead Independent Non-executive) | MJ Kilbride (Independent Non-executive) | B Modise (Independent Non-executive) Registered office 3rd Floor, 10 The High Street, Melrose Arch, 2076 Date: 23-02-2021 07:05:00 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.