Tsogo Sun Gaming : Company Annual financial Statements for the year ended 31 March 2022

COMPANY ANNUALL FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

TSOGO SUN GAMING ANNUAL FINANCIAL STATEMENTS 2022

Contents

FINANCIAL STATEMENTS for the year ended 31 March 2022

Statement of responsibility by the board of directors

for the year ended 31 March 2022

The company's directors are required by the Companies Act of South Africa, 71 of 2008, as amended, to maintain adequate accounting records and to prepare financial statements for each financial year that fairly present the state of affairs of the company at the end of the financial year and of the results of operations and cash flows for the year. In preparing the accompanying financial statements, the Listings Requirements of the Johannesburg Stock Exchange, together with International Financial Reporting Standards ("IFRS") have been followed, suitable accounting policies have been used, applied consistently, and reasonable and prudent judgements and estimates have been made. Any changes to accounting policies are approved by the board of directors and the effects thereof are fully explained in the financial statements. The financial statements incorporate full and responsible disclosure.

The board recognises and acknowledges its responsibility for the company's systems of internal financial control. The company's policy on business conduct, which covers ethical behaviour, compliance with legislation and sound accounting practice, underpins its internal financial control process. The control systems include written accounting and control policies and procedures, clearly defined lines of accountability and delegation of authority, and comprehensive financial reporting and analysis against approved budgets. The responsibility for operating these systems is delegated by the directors who confirm that they have reviewed the effectiveness thereof. The directors consider that the systems are appropriately designed to provide reasonable, but not absolute, assurance that assets are safeguarded against material loss or unauthorised use and that transactions are properly authorised and recorded. The directors are also responsible for the controls over, and the security of the company's website and, where applicable, for establishing and controlling the process for electronically distributing annual reports and other financial information to the company's shareholders and to the Companies and Intellectual Property Commission.

The directors considered the going concern status of the company taking into account the current financial position and their best estimate of the cash flow forecasts. The cash flow and liquidity projections for the company have been prepared for a period exceeding 12 months from the reporting date and included performing sensitivity analyses. On the basis of this review, and in light of the current financial position and existing borrowing facilities, the directors consider the going concern method to be appropriate for the presentation of the financial statements. Refer to note 3(b) Critical accounting estimates and judgements - Going concern in the notes to the financial statements.

The company's independent auditors, PricewaterhouseCoopers Inc., have audited the financial statements and their unqualified report appears on pages 07 to 09. PricewaterhouseCoopers Inc. was given unrestricted access to all financial records and related data, including minutes of all meetings of shareholders, the board of directors and committees of the board. The directors believe that all representations made to the independent auditors during their audit are valid and appropriate.

Directors' approval of the financial statements

for the year ended 31 March 2022

The preparation of the financial statements set out on pages 01 to 38 has been supervised by the Chief Financial Officer, G Lunga CA(SA). These financial statements were approved by the board of directors on 29 July 2022 and are signed on its behalf by:

Chief Executive Officer and Chief Financial Officer responsibility statement

for the year ended 31 March 2022

Each of the directors, whose names are stated below, hereby confirm that:

• the annual financial statements, set out on pages 01 to 38, fairly present in all material respects the financial position, financial performance and cash flows of  Tsogo Sun Gaming Limited in terms of IFRS;
• to the best of our knowledge and belief, no facts have been omitted or untrue statements made that would make the annual financial statements false or misleading;
• internal financial controls have been put in place to ensure that material information relating to Tsogo Sun Gaming Limited have been provided to effectively prepare the financial statements of  Tsogo Sun Gaming Limited;
• the internal financial controls are adequate and effective and can be relied upon in compiling the annual financial statements, having fulfilled our role and function as executive directors with primary responsibility for implementation and execution of controls;
• where we are not satisfied, we have disclosed to the audit committee and the auditors any deficiencies in design and operational effectiveness of the internal financial controls, and have taken steps to remedy the deficiencies; and
• we are not aware of any fraud involving directors.

Declaration by the Company Secretary

In terms of section 88(2)(e) of the Companies Act of South Africa, 71 of 2008, as amended ("the Act"), we confirm that for the year ended 31 March 2022, Tsogo Sun Gaming Limited has lodged with the Companies and Intellectual Property Commission all such returns and notices as are required of a public company in terms of the Act and that all such returns and notices are true, correct and up to date.

Tsogo Sun Casino Management Company Proprietary Limited

Company Secretary

29 July 2022