Master Drilling : Updated Trading Statement

Master Drilling Group Limited

(Incorporated in the Republic of South Africa) (Registration number 2011/008265/06)

JSE share code: MDI

ISIN: ZAE000171948

("Master Drilling" or the "Company")

Updated Trading Statement

Further to the trading statement of 14 March 2022, shareholders are advised that the Company's:

• Earnings per share ("EPS") for the year ended 31 December 2021 ("current period") in ZAR terms are expected to be between 193,40 and 197,10 cents per share compared to the EPS of 36,30 cents per share for the year ended 31 December 2020 ("comparative period"), which is between 432,9% and 442,9% higher than the EPS of the comparative period as reported in ZAR; and
• Headline earnings per share ("HEPS") for the current period are expected to be between 188,70 and 193,00 cents per share compared to the HEPS of 42,60 cents per share for the comparative period, which is between 343,0% and 353,0% higher than the HEPS for the comparative period as reported in ZAR.

Shareholders are also advised that the Company's:

• EPS for the current period in USD terms are expected to be between 13.10 and 13.30 cents per share compared to the EPS of 2.20 cents per share for the comparative period, which is between 495,0% and 505,5% higher than the EPS of the comparative period as reported in USD; and
• HEPS for the current period are expected to be between 12.80 and 13.00 cents per share compared to the HEPS of 2.60 cents per share for the comparative period, which is between 391,2% higher and 401,2% higher than the HEPS for the comparative period as reported in USD.

The financial information on which this trading statement is based has not been reviewed or reported upon by the Company's auditors. Master Drilling's full year results are expected to be released on SENS on or about Tuesday, 22 March 2022.

Fochville

18 March 2022

Sponsor

Investec Bank Limited (acting through its Corporate and Investment Banking division)