Audited consolidated annual financial statements for the year ended 30 September 2021

Barloworld Limited
(Incorporated in the Republic of South Africa)
(Registration number 1918/000095/06)
(Income Tax Registration number 9000/051/71/5)
(JSE Share code: BAW)
(JSE ISIN: ZAE000026639)
(JSE Share code: BAWP)
(JSE ISIN: ZAE000026647)
(Bond issuer code: BIBAW)
(Namibian Stock Exchange share code: BWL)
("Barloworld" or the "company" or the "group")

SHORT FORM ANNOUNCEMENT 

AUDITED CONSOLIDATED ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

Group Salient features 
- Group headline earnings per share ("HEPS") of 1 195 cents (FY2020: loss of 268 cents)
- Group normalised HEPS from continuing operations#^ of 1 323 cents (FY2020: 70 cents)
- Group revenue of R53.8 billion up 8.4% (FY2020: R49.7 billion) with revenue from continuing operations up 22.5% to
  R41.6 billion 
- Strong balance sheet with a robust cash balance of R10.8 billion maintained 
- Group net debt position (including Ingrain) at R2.3 billion
- Improvement of group EBITDA to gross interest paid to 9.2 times (FY2020: 5.9 times)
- Enhanced group ROIC^ of 11.3% (FY2020: 1.0%)
- Equipment Mongolia and Ingrain contributed 19.2% of total operating profit
- 119.4% increase in operating profit to R4.3 billion 
- Operating margin of 10.3% (FY2020: 5.8%)
- Ordinary dividend 300 cents per share (FY2020: Nil), therefore total ordinary dividend of 437 cents per share for
  FY2021
- A special dividend of 1 150 cents per share
- Basic earnings per share of 1 391 cents (FY2020: loss of 1 236 cents per share)

# Normalised headline earnings is adjusted for the B-BBEE charges and impact of IFRS 16 and the USD denominated cash
  in the UK in September 2020 only

^ Certain information presented in this announcement is regarded as additional performance measures. These measures
  are not defined by IFRS, not uniformly defined or used by all entities and may not be comparable with similar labelled
  measures and disclosures provided by other entities. This information has been included to further illustrate the
  performance of the business and align with measures the board and management have selected to monitor performance against 
  set targets. Because of its nature, such information may not fairly present the financial position of the company; and is 
  the responsibility of the directors of the company. A disclosure document is included in the 2021 Annual Financial Statements
  and on the company's website.

Dividend declaration
Notice is hereby given that the final ordinary dividend number 184 and a special dividend has been declared (collectively 
"the dividends") in respect of the twelve months ended 30 September 2021 subject to the applicable dividends tax levied in 
terms of the Income Tax Act (Act No. 58 of 1962) (as amended) (the Income Tax Act) as follows: 

Dividend          Gross amount                   Withholding tax           Net amount             
Ordinary          300 cents per share            20%                       240 cents per share    
Special           1 150 cents per share          20%                       920 cents per share    

Payment of the special dividend is subject to the exchange control approval by the South African Reserve Bank. A further 
announcement will be released once such approval has been obtained.  

In accordance with paragraphs 11.17(a)(i) to (ix) and 11.17(c) of the JSE Listings Requirements the following additional 
information is disclosed: 
- The dividends have been declared out of income reserves 
- The company's income tax number is IT 9000051715
- Local dividends tax rate is 20% (twenty per cent)
- Barloworld has 200 249 906 ordinary shares in issue.

In compliance with the requirements of Strate and the JSE Limited, the following dates are applicable to the dividends: 
Dividends declared                            Monday, 22 November 2021 
Finalisation date                            Tuesday, 28 December 2021
Last day to trade cum dividends               Tuesday, 04 January 2022 
Ordinary shares trade ex-dividends          Wednesday, 05 January 2022
Record date                                    Friday, 07 January 2022 
Payment date                                   Monday, 10 January 2022

Share certificates may not be dematerialised or rematerialised between Wednesday, 05 January 2022 and Friday, 
07 January 2022, both days inclusive. 

SHORT FORM ANNOUNCEMENT
This short form announcement is the responsibility of the board of directors of Barloworld and is a summarised version of the full 
announcement in respect of the annual financial results for the period ended 30 September 2021 of Barloworld and its subsidiaries 
(collectively "the group") and as such it does not contain full or complete details pertaining to the group's results. Any investment 
decisions should be made based on the full announcement. 

The full announcement can be found on the group's website: https://www.barloworld.com/investors/yearend-results-presentations/
and on the JSE's website at: https://senspdf.jse.co.za/documents/2021/jse/isse/BAWE/ye2021.pdf  

The full announcement is available for inspection, at no charge, at the registered office of Barloworld (61 Katherine Street, Sandton, 
Johannesburg, 2146) from 09:00 to 16:00 on business days. Copies of the full announcement can be requested from the registered office 
by contacting the company secretary on +27 11 445 1000.

AUDIT OPINION
The annual financial statements were audited by the group's joint auditors Ernst & Young Inc. and SNG Grant Thornton Inc., who expressed 
an unqualified audit opinion thereon. The full audit opinion, including any key audit matters, is available on the group's website 
https://www.barloworld.com/investors/ together with the Barloworld annual financial statements.

DIRECTORS
Non-executive:
NN Gwagwa (Chairman), FNO Edozien*, HH Hickey, MD Lynch-Bell**, NP Mnxasana, NV Mokhesi, H Molotsi, P Schmid
Executive: 
DM Sewela (Group Chief Executive), N Lila (Group Finance Director) 
*  Nigeria       ** UK

Group company secretary
Vasta Mhlongo

Sandton
22 November 2021

Sponsor: 
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Enquiries:
Nwabisa Piki
Group Investor Relations
Tel: +27 11 445 1890 
E-mail: nwabisap@barloworld.com   

ABOUT BARLOWORLD
Barloworld is positioned as an industrial processing, distribution, and services company with two primary areas of focus: Industrial 
Equipment and Services and Consumer Industries (food and ingredient solutions), with our remaining interests in the rapidly changing 
Automotive world, focused on car rental and leasing activities. Our provision of Industrial Equipment and related services, offers 
earthmoving equipment, industrial services and power systems, which enable the operation and maintenance of a large array of mining, 
construction and power solutions for our customers, with whom we have built enduring relationships based on mutual trust. Through our 
Consumer Industries business, Ingrain, we provide large enterprises with the ingredients essential to the manufacturing of a range of 
products including food and beverages, paper, pharmaceuticals, building materials and adhesives, amongst others.
Date: 22-11-2021 07:05:00
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