Olympia Capital : CONSOLIDATED AND SEPARATE ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

OLYMPIA CAPITAL CORPORATION LIMITED (Registration number BW00002007272)

CONSOLIDATED AND SEPARATE ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Consolidated And Separate Annual Financial Statements for the year ended 31 December 2022

General Information

Country of incorporation and domicile

Nature of business and principal activitiesDirectorsRegistered officeBusiness addressPostal address

Botswana

Listed investment holding company which owns Kalahari Floor Tiles (Proprietary) Limited. Kalahari Floor Tiles (Proprietary) Limited is involved in the business of manufacturing Vinyl floor tiles, aluminium, PVC windows and cleaning chemicals.

Christopher Walter Obura Alex Njoroge Kimani Robert Wahome Wanderi Tengo Jabavu Rubadiri Tebatso Tiraatso Lekalake Patrick Matu Wamae

Plot 1278, Old Lobatse Road Gaborone

Botswana

Plot 51, 52 & 53 Mogoditshane Gaborone Botswana

P O Box 2166 Gaborone BotswanaChairman

Ceased on 20 June 2022

Bankers

First National Bank of Botswana Limited First National Bank of South Africa Stanbic Bank of Botswana Limited Access Bank Botswana Limited

Auditors

Mazars

Plot 139

Gaborone International Finance Park Gaborone

Secretary

Pricewaterhousecoopers (Proprietary) Limited

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Consolidated And Separate Annual Financial Statements for the year ended 31 December 2022

Contents

Page
Directors' Responsibilities and Approval	3
Independent Auditor's Report	4- 7
Statement of Financial Position	8
Statement of Profit or Loss and Other Comprehensive Income	9
Statement of Changes in Equity	10
Statement of Cash Flows	11
Accounting Policies	12 - 28
Notes to the Consolidated And Separate Annual Financial Statements	29 - 56
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Plot 139, Gaborone International Finance Park

Gaborone, Botswana

PO Box 401805, Gaborone, Botswana

Tel : [phone]

Fax : [phone] Email :[e-mail]

Independent Auditor's Report

To the Shareholders of Olympia Capital Corporation Limited

Report on the Audit of the Consolidated and Separate Financial Statements Opinion

We have audited the consolidated and separate annual financial statements of Olympia Capital Corporation Limited ("OCCL") (the group and company) set out on pages 8 to 56 , which comprise the consolidated and separate statement of financial position as at 31 December 2022, and the consolidated and separate statement of comprehensive income, the consolidated and separate statement of changes in equity and the consolidated and separate statement of cash flows for the year then ended, and notes to the consolidated and separate consolidated annual financial statements, including a summary of significant accounting policies. In our opinion, the consolidated and separate annual financial statements presents fairly, in all material respects, the consolidated and separate financial position of Olympia Capital Corporation Limited as at 31 December 2022, and of its consolidated and separate financial performance and its consolidated and separate cash flows for the year then ended in accordance with International Financial Reporting Standards (IFRSs).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are independent of the company in accordance with the International Ethics Standards Board for Accountants' Code of Ethics for Professional Accountants (IESBA Code) and other independence requirements applicable to performing audits of financial statements in Botswana. We have fulfilled our other ethical responsibilities in accordance with the IESBA Code and in accordance with other ethical requirements applicable to performing audits in Botswana. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material uncertainty related to going concern

We draw attention to Note 33 to the separate annual financial statements, which indicates that the Company incurred a net loss of P491,600 (2021: P1,295,491) during the year ended 31 December 2022 and had accumulated losses of P34,245,305 (2021: P33,753,706) and, as of that date, the company's total liabilities exceed its total assets by P6,442,110 (2021: P5,950,511).

As stated in Note 33, these events or conditions, along with other matters as set forth in Note 33, 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.

Key audit matters

Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the consolidated and separate annual financial statements of the current period. These matters were addressed in the context of our audit of the consolidated and separate annual financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. In addition to the matter described in the Material Uncertainty Related to Going

Certified Auditors

A full list of national partners is available on request or atwww.mazars.co.bw