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AEL: ALLIED ELECTRONICS CORPORATION LIMITED - Trading Statement for the year ended 28 February 2021 Trading Statement for the year ended 28 February 2021 ALLIED ELECTRONICS CORPORATION LIMITED (Registration number 1947/024583/06) (Incorporated in the Republic of South Africa) Share code: AEL ISIN: ZAE000191342 ("Altron" or "Altron Group" or "the Company") TRADING STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 2021 In terms of section 3.4 (b) of the JSE Limited Listings Requirements, companies are required to publish a trading statement as soon as they are reasonably certain that the financial results for the current reporting period will be more than 20% different than that of the previous corresponding period. Shareholders are hereby advised that a reasonable degree of certainty exists that for the twelve months ended 28 February 2021 the Company will report basic earnings per share of between 3256 cents and 3270 cents, being an increase in excess of 100% as compared to basic earnings per share of 175 cents (restated) for the prior comparative period. Reported headline earnings per share is expected to be between 124 cents and 137 cents, reflecting a reduction of between 21% and 29% as compared to headline earnings per share of 174 cents (restated) for the prior comparative period. The increase in basic earnings per share is mainly as a result of the realised profit on the recent demerger of Bytes Technology Group Plc which was finalised on the 17th of December 2020. The headline earnings per share (which excludes the profit on Bytes UK demerger) was negatively impacted as Bytes UK was previously a material component of the Altron Group earnings and by the poor economic activity and the trading restrictions brought about by the Covid pandemic. The above information has not been reviewed or reported on by the Company`s external auditors. The Company`s results are expected to be published on 17 May 2021. This announcement contains forward-looking statements with regard to the Altron Group and by their nature, all forward-looking statements involve risk and uncertainty because they relate to future events and circumstances which are beyond the Company´s control. Johannesburg 28 April 2021 Sponsor: Investec Bank Limited Date: 28-04-2021 08:00:00 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.