EFORA ENERGY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1993/000460/06)
JSE Share Code: EEL
ISIN: ZAE000248258
(“the Company” or together with its subsidiaries and joint venture “the Group”)

AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE TWELVE MONTHS ENDED 29 FEBRUARY 2024

SALIENT FEATURES

• Revenue increased by 424% to R41.9 million (2023: R8.0 million).
• Headline earnings per share decreased by 2.23 cents to a headline loss per share of 1.72 cents (2023: headline earnings per share of 0.51 cents).
• Earnings per share decreased by 2.23 cents to a loss per share of 1.72 cents (2023: earnings per share of 0.51 cents).
• No dividend declaration for the year ended 29 February 2024 (28 February 2023: nil).

SHORT-FORM ANNOUNCEMENT

This short-form announcement is the responsibility of the directors of the Company. It contains only a summary of the information in the full audited consolidated financial statements for the year ended 29 February 2024 (“Full AFS”) and does not contain full or complete details. Any investment decisions by investors and/or shareholders should be based on consideration of the Full AFS.

The Full AFS can be found on the JSE cloudlink at:
https://senspdf.jse.co.za/documents/2024/JSE/ISSE/EELE/EELFY24.pdf

Copies of the Full AFS are also available for viewing on the Company’s website at https://www.eforaenergy.com/category/investor-centre/financial-results/.

The Full AFS have been audited by SizweNtsalubaGobodo Grant Thornton Inc. who expressed an unqualified opinion thereon. The audit report contains a paragraph on material uncertainty relating to going concern, as detailed below.

“We draw attention to note 35 in the financial statements, which indicates that the Group and Company had generated losses amounting to R19.0 million and R21.3 million, respectively. As stated in note 35, these events or conditions, along with other matters as set forth in this note, indicate that a material uncertainty exists that may cast significant doubt on the Company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.”

The full auditor’s report is available, along with the Full AFS, on the Company’s website at https://www.eforaenergy.com/category/investor-centre/financial-results/.

Johannesburg

13 August 2024

Sponsor
PSG Capital

For further information please contact:

Efora Energy Limited
Darrin Arendse
+27 (0)10 591 2260