Clicks Group Limited

(Incorporated in the Republic of South Africa) Registration number: 1996/000645/06

JSE share code: CLS

ISIN: ZAE000134854

CUSIP: 18682W205 ("the group")

TRADING STATEMENT FOR THE SIX MONTHS ENDED 28 FEBRUARY 2022

As disclosed in the group's 2021 annual financial statements, the group received a second interim payment of R250 million (including VAT) from the South African Special Risks Insurance Association ("SASRIA") on 29 October 2021 as part of its political risk insurance claim relating to the civil unrest in July 2021.

This second interim insurance payment will be accounted for in the group's financial results for the six months ended 28 February 2022 ("the period"). An amount of R130.4 million will be reflected in other income and R87.0 million included as income of a capital nature related to property, plant and equipment.

The insurance payment is expected to increase earnings per share ("EPS") for the period by 64.2 cents and headline earnings per share ("HEPS") by 38.3 cents.

Owing to the inclusion of the second interim insurance payment, the group's EPS and HEPS for the period are expected to exceed the prior period's EPS of 358.9 cents and HEPS of 370.6 cents by more than 20%. The earnings for the prior period include Musica which closed in May 2021 and was classified as a discontinued operation for the year ended 31 August 2021.

The directors expect the earnings for the period to increase over the prior period as follows:

Increase range (%)

Increase range

(cents per share)

EPS - Total group

30 - 40

466.6 - 502.5

HEPS - Total group

20 - 30

444.7 - 481.8

EPS - Continuing operations

25 - 30

484.9 - 504.3

HEPS - Continuing operations

17 - 22

455.0 - 474.5

Subsequent to the half year ended 28 February 2022, SASRIA has advised the group that a full and final insurance settlement of R317 million (including VAT) relating to the civil unrest insurance claim will be made during March 2022, which the group has accepted. This payment will be accounted for in the group's full year results to 31 August 2022.

Clicks Group's interim results for the period will be released on SENS on Thursday, 28 April 2022.

The financial information in this trading statement is the responsibility of the directors and has not been reviewed or reported on by the group's independent auditor.

Cape Town

24 March 2022

Sponsor

Investec Bank Limited

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Clicks Group Limited published this content on 24 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 March 2022 12:51:08 UTC.