Spur Corporation (SUR) Trading update summary

Legal dispute and arbitration outcome

• Arbitration resulted in a damages award of R74.6 million plus interest and legal costs, totaling a provision of R129.5 million for Claim A against the group.

• The group will appeal the arbitration award, with legal counsel optimistic about a favorable outcome; the appeal is scheduled for February 2027 and will be final and binding.

Financial impact and trading update

• Sufficient cash reserves ensure the award does not affect liquidity or dividend declarations.

• Due to the once-off provision, EPS for FY2026 is expected to decrease by 31% to 41% compared to FY2025.

• HEPS is expected to decline by 34% to 43%, while adjusted HEPS (excluding the provision) is projected to rise by 5% to 13%.

• Adjusted HEPS is highlighted as the key measure of sustainable trading earnings.

• Final audited results will be released on 20 August 2026.