Interim report
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Condensed unaudited interim results for the six months ended 31 August 2026
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1 DATATEC Datatec is an international ICT solutions and services group operating in more than 50 countries across North America, Latin America, Europe, Africa, the Middle East, and Asia-Pacific. Through its core divisions, the Group offers Technology Distribution (Westcon International) and Integration and Managed Services (Logicalis International and Logicalis Latin America). CONTENTS Group performance highlights 2 Datatec Group at a glance 4 Our presence and core divisions 6 Strategy 7 Westcon refinancing transaction 8 Dividends 10 Current trading and outlook 11 Group results 12 Divisional results 16 Cash dividend and scrip distribution alternative23 Condensed unaudited consolidated financial statements 25 Glossary 64 Financial and technical definitions 65 Corporate details 66 Directors 66 “We are pleased with the value created from the Westcon refinancing transaction, which returned ZAR 7.1 billion (US$438 million) to shareholders. This continues to advance Datatec’s value realisation journey, bringing total returns to shareholders since inception to US$1.5 billion. The Group’s strong financial results reflect the continued excellent performance at Westcon and record results from Logicalis International, with weak operating results in Logicalis Latin America. The quality of earnings improved with continued operating leverage. Strong AI infrastructure demand supports a robust full-year outlook.” Contents page Previous page Next page Navigation Jens Montanana Chief Executive Officer ABOUT US
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GROUP PERFORMANCE HIGHLIGHTS 2 DATATEC US$ 4.8 billion 18.0% 4.1 4.8 H1 FY26 H1 FY27 30.2 US cents 56.5% US$ 150.7 million 16.6% US$ 511.2 million 5.8% Included in this document are numerous non-IFRS measures, being gross invoiced income, adjusted EBITDA, underlying earnings and net debt/ cash. Refer to page 65 for the definition of the aforementioned measures. 19.3 30.2 H1 FY26 H1 FY27 129.2 150.7 H1 FY26 H1 FY27 483.4 511.2 H1 FY26 H1 FY27 Gross invoiced income (US$ billion) Underlying earnings per share (US cents) Adjusted EBITDA (US$ million)Gross profit+ (US$ million) Special dividend Interim dividend per share (ZAR cents) 175 250 H1 FY26 H1 FY27 250 ZAR cents (15 US cents) 42.9% ZAR 7.1 billion total (US$ 438.0 million) 2 900 ZAR cents per share (180 US cents per share) + H1 FY26 gross profit included US$15.5 million of indirect tax credits.
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3 DATATEC AI infrastructure boost Continuing strong Westcon financial performance driven by networking and cyber infrastructure demand Strong operational execution Exceptional Logicalis International financial performance with strong operating leverage Westcon refinancing transaction with General Atlantic returned ZAR 7.1 billion (US$438 million) to shareholders Weak Logicalis Latin America performance – ongoing transformation and remodelling GROUP PERFORMANCE HIGHLIGHTS continued
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4 DATATEC Our purpose To deliver value to all stakeholders through technological agility and service excellence. Our vision To be a global leader in speciality, high-value ICT solutions through distribution and integration services businesses, in collaboration with leading vendor technology partners. DATATEC GROUP AT A GLANCE – OUR STORY AND PRESENCE Who we are and what we do Datatec is an international information and communication technology (“ICT”) solutions and services group. It was founded 40 years ago in 1986 and has been listed on the Johannesburg Stock Exchange (“JSE”) since 1994 and was admitted to the OTCQX trading platform in the US in 2025 Our DNA is in data communications, networking and cyber security, which we deliver through end-to-end solutions offerings We have built an extensive global footprint through our entrepreneurial expansion, which we plan to continue
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5 DATATEC Our investment proposition Focus On high-value, fast-growing sectors of the ICT market Diversity Related but operationally dissimilar businesses diversify income and provide unique growth opportunities Global presence Located in over 50 countries and supported by approximately 11 000 skilled employees and experienced multinational management Strategic relationships Well positioned in strong technology areas and managed services with leading technology vendors Operate At multiple points of the ICT supply chain Financial strength Sustained profitable growth and financial position DATATEC GROUP AT A GLANCE – OUR STORY AND PRESENCE continued
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OUR PRESENCE AND CORE DIVISIONS The Group has a global presence, operating in more than 50 countries across North America, Latin America, Europe, Africa, the Middle East, and Asia-Pacific. Through its core divisions, the Group offers Technology Distribution (Westcon International) and Integration and Managed Services (Logicalis International and Logicalis Latin America). + H1 FY26 gross profit included US$15.5 million of indirect tax credits. 6 DATATEC Gross invoiced income US$ 3 371.5 million 21.3% H1 FY26: US$ 2 778.4 million Gross profit+ US$ 256.6 million 4.4% H1 FY26: US$ 245.9 million Adjusted EBITDA US$ 86.7 million 13.5% H1 FY26: US$ 76.4 million Gross invoiced income US$ 1 226.2 million 18.2% H1 FY26: US$ 1 037.1 million Gross profit US$ 210.5 million 15.3% H1 FY26: US$ 182.5 million Adjusted EBITDA US$ 71.4 million 36.3% H1 FY26: US$ 52.4 million Gross invoiced income US$ 218.7 million (16.2%) H1 FY26: US$ 260.9 million Gross profit US$ 39.0 million (24.0%) H1 FY26: US$ 51.3 million Adjusted EBITDA US$ (0.5) million (104.2%) H1 FY26: US$ 11.8 million Logicalis Latin AmericaLogicalis International Westcon International
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STRATEGY Improving shareholder returns H1 FY27 strategic milestone To further the objective of improving returns to shareholders, Westcon entered into a refinancing transaction with General Atlantic (as defined and described in more detail in the following section). 7 DATATEC Our strategy Datatec’s strategy is to improve shareholder returns through a combination of corporate and business development actions aimed to enhance the competitiveness and profitability of its subsidiaries and operating divisions. Closing the valuation gap The Group continues to address the persistent gap between Datatec’s valuation and the inherent value of its subsidiaries. Positioned for growth The Group is ensuring that it is positioned to take full advantage of the positive market dynamics for its technology solutions and services.
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WESTCON REFINANCING TRANSACTION The transaction comprised: 8 DATATEC On 4 August 2026, Westcon completed a refinancing and minority investment transaction with Atlantic Park Strategic Capital II Designated Activity Company and Atlantic Park Strategic Master Fund III, L.P. (together, “General Atlantic”) in relation to Westcon International Group Holdings Limited (“WIGHL”), the intermediate holding company of the Westcon group of companies. US$375.0 million New six-year 9% senior secured debt facility US$450.0 million Intercompany shareholder loan repaid in full 5% General Atlantic interest acquired in WIGHL for US$25.0 million cash US$438.0 million special dividend declared (2 900 ZAR cents per share) New debt facility A new six-year 9% US$375.0 million senior secured debt facility provided by General Atlantic. Together with US$75.0 million drawn from Westcon’s existing financing facilities, the proceeds were used to repay in full the existing US$450.0 million intercompany shareholder loan advanced by Westcon International Limited (“WIL”) to WIGHL, together with accrued interest. Equity co-investment A US$25.0 million cash equity co-investment by General Atlantic through the acquisition of a 5% interest in WIGHL from existing shareholders. Warrant shares The issue of shares in WIGHL to General Atlantic for nominal consideration, structured to replicate the economic effect of 4% penny warrants and 8% at-the-money warrants. Management incentive plan The restructuring of the WIGHL management incentive plan to reflect the post-recapitalisation capital structure.
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Strategic rationale The Board believes that the transaction is in the best interests of Datatec and its shareholders for the following reasons: • Strategic partner: General Atlantic’s equity co-investment and ownership of the warrant shares align its interests with those of Datatec and Westcon management. The partnership also provides Westcon with access to General Atlantic’s global network, sector expertise and institutional capital capabilities in support of its growth strategy. Following several years of operational and financial development, Westcon has established a robust global platform capable of supporting further scale, accelerating performance improvements and enhancing its appeal to technology suppliers and customers. • Return of capital: the repayment of the shareholder loan, together with WIL’s share of the proceeds from the equity co-investment, generated cash proceeds that enabled Datatec to return capital to shareholders through the special dividend. • Capital structure: the transaction replaced the intercompany shareholder loan with independently structured third-party debt, establishing a standalone capital structure for Westcon while Datatec retains control of the business. • Westcon management alignment: the restructured management incentive plan reflects WIGHL’s post-recapitalisation capital structure and aligns Westcon management’s incentives with the long-term interests of all shareholders. 9 DATATEC WESTCON REFINANCING TRANSACTION continued
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DIVIDENDS Dividend policy The dividend policy remains unchanged, with a two-times cover maintained relative to underlying earnings when declaring ordinary dividends. Dividends declared The Board declared the following special and interim dividends, in the usual form of a cash dividend with scrip distribution alternative: H1 FY27 H1 FY27 H1 FY27 H1 FY26 % increase in H1 interim dividend (excluding special dividend) Total Special Interim Interim Per share ZAR cents 3 150 2 900 250 175 42.9% US cents 195 180 15 10 50.0% Total ZAR million 7 897 7 053 843.9 410.3 105.7% US$ million 488.6 438 50.6 23.9 111.7% With the exception of the H1 FY27 interim dividend, all dividends declared were settled before the date of this results announcement. The special dividend, which was outstanding at 31 August 2026, was settled on 19 October 2026. 10 DATATEC
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CURRENT TRADING AND OUTLOOK 11 DATATEC AI adoption is accelerating investment in IT infrastructure as it expands into the enterprise and the edge of the internet, increasing the need for secure networked environments. IT infrastructure is expected to account for a growing proportion of private and public-sector budgets. AI infrastructure investment is supporting growth in hardware and software. Trading remains robust. The Group’s focus is on improving operating leverage, quality of earnings and cash generation and improving Logicalis Latin America’s financial performance. The Group continues to evaluate initiatives to unlock shareholder value. H2 FY27 results for the Group will be impacted by the Westcon International minority investment and refinancing transaction and additional shares in issue as a result of the scrip take-up of the special dividend.
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GROUP RESULTS Salient financial features US$ million Six months to 31 August 2026 Restated^ six months to 31 August 2025 % movement Gross invoiced income 4 835.0 4 096.1 18.0% Revenue^ 2 024.1 1 777.2 13.9% Gross profit 511.2 483.4 5.8% Gross margin (%)^ 25.3% 27.2% Operating costs (360.5) (338.7) 6.4% Share-based payments (12.4) (5.7) 117.8% Restructuring costs (3.1) – 100.0% Acquisition, integration and corporate actions costs (7.1) – 100.0% EBITDA 128.1 139.0 (7.8%) EBITDA margin (%)^ 6.3% 7.8% Adjusted EBITDA 150.7 129.2 16.6% Adjusted EBITDA margin (%)^ 7.4% 7.3% Adjusted EBITDA as a % of gross profit 29.5% 26.7% Depreciation and amortisation (32.6) (31.2) 4.5% Operating profit 95.5 107.8 (11.4%) Operating profit margin (%)^ 4.7% 6.1% Net finance costs (6.9) (21.0) (67.1%) Profit before tax 88.5 86.4 2.4% Tax (21.0) (27.2) (22.9%) Profit for the period 67.5 59.2 14.0% Effective tax rate (%) 23.7% 31.5% Basic earnings per share (US cents) 23.1 21.7 6.5% Headline earnings per share (US cents) 22.3 22.0 1.4% Underlying earnings per share (US cents) 30.2 19.3 56.5% 12 DATATEC ^ After reconsidering previous judgements applied, H1 FY26 revenue and cost of sales have been restated due to an error relating to revenue of a specific product in Westcon International, which was presented on a gross basis rather than on a net basis. This restatement which was first disclosed in the Group’s FY26 results for the year ended 28 February 2026, resulted in a reduction of both revenue and cost of sales for the six months ended 31 August 2025 of US$58.7 million. It had no impact on gross profit or the condensed consolidated statement of financial position.
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13 DATATEC Gross profit increased by 5.8%. Prior year gross profit included indirect tax credits of US$15.5 million relating to ongoing tax litigation matters that were adjudicated in Westcon International’s favour. Excluding these credits, gross profit increased by 9.3%, compared with revenue^ growth of 13.9%. Operating costs increased by 6.4%. The operating leverage achieved resulted in a 16.6% increase in adjusted EBITDA. Adjusted EBITDA excludes share-based payment charges of US$12.4 million, restructuring costs relating to fundamental reorganisations of US$3.1 million and acquisition, integration and corporate actions costs of US$7.1 million. H1 FY26 adjusted EBITDA was impacted by share- based payment charges of US$5.7 million and once-off tax credits impacting EBITDA of US$15.5 million. As a result, an improved adjusted EBITDA as a % of gross profit of 29.5% (H1 FY26: 26.7%) was achieved. The Group’s effective tax rate reduced to 23.7% (H1 FY26: 31.5%) as a result of the annualised impact of the recoverable tax credits of US$21.3 million in Logicalis Latin America, together with non-taxable interest thereon of US$17.1 million, offset by a portion of the General Atlantic loan interest being non-deductible. Underlying earnings per share up 56.5% to 30.2 US cents per share. Net finance costs decreased, reflecting US$17.1 million interest on recoverable tax credits in Logicalis Latin America, as well as lower net finance costs in Logicalis International, offset by higher net finance costs in Westcon International pursuant to the General Atlantic loan. Gross invoiced income increased by 18.0%, with Europe contributing approximately half, while revenue^ increased by 13.9%, mainly due to product mix, with a higher proportion of hardware in the sales mix. GROUP RESULTS continued
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t US$ million Six months to 31 August 2026 Six months to 31 August 2025 Year ended 28 February 2026 Cash resources 1 074.8 660.9 704.1 Bank overdrafts (125.4) (174.1) (139.8) Short-term interest-bearing liabilities and short-term leases (643.6) (450.8) (531.6) Long-term interest-bearing liabilities and long-term leases (420.9) (90.4) (79.4) Special dividend payable to Datatec shareholders (438.0) – – Net debt (553.1) (54.4) (46.7) Adjustment – special dividend scrip election (cash retained) 296.5 – – Pro forma net debt (256.6) (54.4) (46.7) Cash resources above include US$438.0 million that was declared as a special dividend in H1 FY27, and settled in H2 FY27. The pro forma net debt figure above adjusts the H1 FY27 position with the subsequent scrip election for the dividend. The Group generated cash from operating activities of US$27.9 million during H1 FY27 (H1 FY26: US$62.3 million) with the decrease mainly due to increased working capital requirements. Net debt increased by US$506.4 million from FY26, mainly as a result of the General Atlantic transaction which substituted intercompany debt with external debt. As at H1 FY27, the proceeds from this loan remained on hand in Datatec within the Corporate and Management Consulting segment, to settle the dividend payable to external shareholders. The Company recognised a liability of US$438.0 million for the special dividend declared on 24 August 2026, which was settled on 19 October 2026. Logicalis International and Logicalis Latin America both ended the period in a net cash position. Distributable reserves at H1 FY27 were reduced by the US$438.0 million special dividend declared but not yet paid. Liquidity and borrowing facilities • Westcon International utilises various financing arrangements to manage working capital and liquidity risk, including: – Europe: A total invoice assignment facility of EUR525.0 million (which includes a seasonal facility available during the months of August, January and February of EUR50.0 million), overdraft facilities of EUR4.0 million, as well as an extended payables facility of US$155.0 million. 14 DATATEC GROUP RESULTS continued
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– Asia-Pacific: A securitisation facility of US$130.0 million, accounts receivable facilities totalling US$11.0 million, as well as extended payables facilities of US$50.0 million. – The Middle East and Africa: Accounts receivable facility totalling US$25.0 million in the Middle East, as well as a securitisation facility in South Africa of ZAR300.0 million. • Logicalis International is supported by a corporate facility of US$110.0 million, covering all its operations, comprising a rolling credit facility and a pooling overdraft, to fund working capital requirements. • Logicalis Latin America is supported separately via a number of uncommitted overdraft facilities and short-term lending arrangements and is predominantly sourced via Tier 1 banks in Brazil as it is the largest territory in the region. Recoverable tax credits In 2018 one of the Group’s operating entities in Brazil, filed a lawsuit in relation to the inclusion of certain state VAT credits in the corporate income tax base. On 6 March 2026, the company obtained a final unappealable favourable court decision. As a consequence, approximately US$38.4 million (BRL197.1 million) became recoverable, comprising approximately US$21.3 million (BRL109.3 million) of corporate income tax booked and paid in years 2013 to 2022, as well as approximately US$17.1 million (BRL87.8 million) of interest, become recoverable. These recoverable credits are expected to be utilised over the next five years and can be offset against any federal taxes as they become due. The US$17.1 million was recognised as interest income in Logicalis Latin America. Subsequent events Settlement of special dividend The shareholder election period for the special dividend declared on 24 August 2026 closed on 16 October 2026. Shareholders elected to receive ZAR 2.3 billion (approximately US$141.5 million at the H1 FY27 spot rate) (32.3%) of the total distribution in cash and ZAR 4.8 billion (approximately US$296.5 million at the H1 FY27 spot rate) (67.7%) through the scrip distribution alternative. On 19 October 2026, the Company paid the cash component of ZAR 2.3 billion and issued 94,324,733 new ordinary shares in settlement of the scrip component. The US$438.0 million dividend payable recognised at H1 FY27 was therefore subsequently settled through the cash dividend payment and the issue of ordinary shares. H1 FY27 interim dividend declared On 28 October 2026, the Board declared an interim dividend of 250 ZAR cents (approximately 15 US cents) per share for H1 FY27 in the form of a cash dividend with scrip distribution alternative, amounting to ZAR843.9 million (approximately US$50.6 million) in total. There were no other material subsequent events. 15 DATATEC GROUP RESULTS continued
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DIVISIONAL RESULTS – WESTCON INTERNATIONAL Salient financial features US$ million Six months to 31 August 2026 Restated^ six months to 31 August 2025 % movement Gross invoiced income 3 371.5 2 778.4 21.3% Revenue^ 1 127.3 920.5 22.5% Gross profit 256.6 245.9 4.4% Gross margin (%)^ 22.8% 26.7% Operating costs (180.1) (155.6) 15.7% EBITDA 76.5 90.3 (15.3%) EBITDA margin (%)^ 6.8% 9.8% Adjusted EBITDA 86.7 76.4 13.5% Adjusted EBITDA margin (%)^ 7.7% 8.3% Adjusted EBITDA as a % of gross profit 33.8% 31.1% Depreciation and amortisation (14.7) (13.6) 8.1% Operating profit 61.8 76.7 (19.4%) Operating profit margin (%)^ 5.5% 8.3% Net finance costs (21.1) (15.5) 36.1% Profit before tax 40.7 61.2 (33.5%) US$ million Six months to 31 August 2026 Six months to 31 August 2025 Year ended 28 February 2026 Cash resources 333.3 375.2 393.5 Bank overdrafts (12.0) (8.5) (13.9) Short-term interest-bearing liabilities and short-term leases (588.0) (404.4) (479.7) Long-term interest-bearing liabilities and long-term leases (382.9) (34.5) (33.3) Net debt (649.6) (72.2) (133.4) 16 DATATEC Net debt increased by US$516.2 million compared with FY26, mainly following Westcon International’s drawdown of a US$375.0 million six-year term loan. The loan proceeds were distributed to Westcon’s shareholders by way of a dividend, which was subsequently used to fund the special dividend to Datatec shareholders. Westcon International is a global specialist distributor of industry- leading cyber security, networking and hybrid cloud solutions. Westcon also provides value-added support services to channel partners and IT vendors, and innovative financial solutions to Datatec Group customers H1 FY27 was marked by generally resilient technology demand despite a challenging macroeconomic and geopolitical backdrop, resulting in a mixed but broadly steady operating environment. Net finance costs increased due to interest expense on the new term loan and increased borrowings required to fund continued growth. 17 logistics and staging facilities throughout: • Europe • the Middle East • sub-Saharan Africa • Asia • Australia • New Zealand Over 3 500 employees ^ H1 FY26 restated. Refer to page 12 for more details.
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17 DATATEC Outlook Westcon International expects market conditions to remain robust, with structural technology growth drivers continuing to outweigh broader economic headwinds. While customers are likely to remain selective and value-focused, demand for cyber security, cloud and AI-related technologies is expected to provide a solid foundation for growth in H2 FY27. WESTCON INTERNATIONAL Gross invoiced income increased by 21.3%, while revenue^ increased by 22.5% due to product mix, with a higher proportion of hardware in sales mix driving a higher revenue growth rate. Operating costs increased by 15.7%. H1 FY27 included restructuring costs of US$3.0 million, acquisition, integration and corporate actions costs of US$5.6 million, share-based payment charge of US$1.6 million (H1 FY26: US$1.6 million) and a net foreign exchange loss of US$7.5 million (H1 FY26: net gain of US$4.5 million). Excluding these items, operating costs increased by 2.5%, with the translation of operating costs adversely affected by the weaker US dollar. Adjusted EBITDA increased by 13.5%, showing good operating leverage. Adjusted EBITDA margin^ decreased to 7.7% (H1 FY26: 8.3%) and adjusted EBITDA as a % of gross profit increased to 33.8% (H1 FY26: 31.1%). Net finance costs increased, primarily due to interest on the new six-year term loan and higher working capital requirements. Gross profit increased by 4.4%, compared with revenue^ growth of 22.5%, reflecting the impact of several large, low-margin deals. Prior year gross profit included indirect tax credits of US$15.5 million relating to tax litigation matters that were adjudicated in Westcon International’s favour. Excluding these credits, gross profit increased by 11.4% with growth across all regions. DIVISIONAL RESULTS – WESTCON INTERNATIONAL continued
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DIVISIONAL RESULTS – LOGICALIS INTERNATIONAL Salient financial features US$ million Six months to 31 August 2026 Six months to 31 August 2025 % movement Gross invoiced income 1 226.2 1 037.1 18.2% Revenue 697.0 612.9 13.7% Gross profit 210.5 182.5 15.3% Gross margin (%) 30.2% 29.8% Operating costs (146.3) (131.5) 11.3% EBITDA 64.2 51.0 25.9% EBITDA margin (%) 9.2% 8.3% Adjusted EBITDA 71.4 52.4 36.3% Adjusted EBITDA margin (%) 10.2% 8.5% Adjusted EBITDA as a % of gross profit 33.9% 28.7% Depreciation and amortisation (11.6) (11.7) (0.9%) Operating profit 52.6 39.3 33.8% Operating profit margin (%) 7.5% 6.4% Net finance costs (3.3) (4.6) (28.3%) Profit before tax 49.2 34.2 43.9% US$ million Six months to 31 August 2026 Six months to 31 August 2025 Year ended 28 February 2026 Cash resources 199.5 193.4 187.0 Bank overdrafts (97.9) (131.5) (114.9) Short-term interest-bearing liabilities and short-term leases (36.0) (42.7) (37.6) Long-term interest-bearing liabilities and long-term leases (30.9) (44.1) (37.3) Net cash/(debt) 34.7 (24.9) (2.8) Logicalis International ended H1 FY27 with a net cash position, driven by continued strong trading results and net working capital management, leading to improvements in cash conversion during the period. 18 DATATEC Logicalis International is a global digital transformation and managed IT services provider Performance during the period was strong across all regions, most notably in North America, with improved annuity services gross margin, continued growth in product trading and improved operating efficiencies all contributing to drive excellent results. Operates in: • Europe • North America • Asia-Pacific • Africa Over 4 000 employees
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19 DATATEC Operating costs increased by 11.3% compared to a 15.3% growth in gross profit, reflecting a positive operating leverage achieved. Operating costs include share-based payment charges of US$6.7 million (H1 FY26: US$1.4 million). The net finance costs decreased by US$1.3 million, driven by reduced borrowings. Gross invoiced income increased by 18.2% due to strong trading in both product and annuity services. All regions reflected strong growth year on year, particularly in North America. Revenue increased by 13.7%, driven by a strong order intake and orders successfully delivered in the current period. Outlook Cyber security is becoming a core growth area for Logicalis International. AI is driving a new technology refresh and is driving a resurgence in enterprise computing, with more hybrid cloud solutions being adopted. The growth in software and services is expected to continue in H2 FY27. Operating efficiencies drove higher conversion of gross profit into EBITDA. Adjusted EBITDA excludes share-based payment costs of US$6.7 million (H1 FY26: US$1.4 million) and acquisition, integration, and corporate actions costs of US$0.5 million. Adjusted EBITDA as a % of gross profit has increased to 33.9% (H1 FY26: 28.7%). Gross margin strengthened, driven by improved services margins attributable to better efficiency in delivery, and increased volume of vendor resold maintenance. Gross profit grew by 15.3% as a result of efficiency improvements in services and a higher overall contribution from products. Services continue to contribute more than 50% of the division’s total gross profit. DIVISIONAL RESULTS – LOGICALIS INTERNATIONAL continued
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DIVISIONAL RESULTS – LOGICALIS LATIN AMERICA Salient financial features US$ million Six months to 31 August 2026 Six months to 31 August 2025 % movement Gross invoiced income 218.7 260.9 (16.2%) Revenue 181.2 224.0 (19.1%) Gross profit 39.0 51.3 (24.0%) Gross margin (%) 21.5% 22.9% Operating costs (40.8) (39.8) 2.5% EBITDA (1.8) 11.5 (115.7%) EBITDA margin (%) (1.0%) 5.1% Adjusted EBITDA (0.5) 11.8 (104.2%) Adjusted EBITDA margin (%) (0.3%) 5.3% Adjusted EBITDA as a % of gross profit (1.3%) 23.0% Depreciation and amortisation (4.9) (4.7) 4.3% Operating profit (6.7) 6.8 (198.5%) Operating profit margin (%) (3.7%) 3.0% Net finance income/(costs) 16.6 (1.7) (1 076.5%) Profit before tax 9.9 5.1 94.1% US$ million Six months to 31 August 2026 Six months to 31 August 2025 Year ended 28 February 2026 Cash resources 68.0 56.2 73.6 Bank overdrafts (13.9) (33.0) (10.5) Short-term interest-bearing liabilities and short-term leases (19.2) (3.4) (13.6) Long-term interest-bearing liabilities and long-term leases (3.8) (9.8) (5.8) Net cash 31.1 10.0 43.7 20 DATATEC Strong net cash position carried forward from FY26, negatively impacted by reduced trading volumes. Logicalis Latin America is a regional digital transformation and managed IT services provider Logicalis Latin America’s performance was adversely affected by lower order intake as the business continues to reduce its telecommunications customer concentration. Finance costs reduced as a result of interest on recoverable tax credits and higher cash balances. The division continues to focus on diversifying its customer base, expanding high-value-added services, and broadening its product portfolio. Over 2 500 employees Operates in: • South America • Mexico • the Caribbean
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21 DATATEC Net finance income/(costs) included approximately US$17.1 million of interest on recoverable tax credits which was recognised in Brazil during March 2026. Gross invoiced income and revenue decreased, primarily due to a lower opening backlog and reduced order intake. Operating costs increased by 2.5%. Cost focus remains a priority. Adjusted EBITDA decreased due to lower top-line performance and included share-based payment charges of US$1.3 million (H1 FY26: US$0.3 million). Outlook Logicalis Latin America remains focused on transformation and business remodelling to improve performance amid challenging trading conditions. The decrease in gross profit and gross margin is mainly attributable to the reduced trading volumes in the division. DIVISIONAL RESULTS – LOGICALIS LATIN AMERICA continued
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DIVISIONAL RESULTS – MANAGEMENT CONSULTING AND CORPORATE 22 DATATEC MANAGEMENT CONSULTING Corporate includes Group head office companies, including the ultimate Logicalis holding company, Logicalis Group Limited and its associated costs, the consolidated results of Kumulus and Paratira Limited, and Group consolidation adjustments. Excluding Kumulus and Paratira Limited, the Datatec head office entities, net operating costs were US$13.5 million (H1 FY26: US$14.0 million). Corporate costs include share-based payment charges of US$2.8 million (H1 FY26: US$2.4 million), net foreign exchange gains/losses, the remuneration of the Board and head office staff, as well as consulting fees and audit fees. Corporate ended the period with net cash of US$27.9 million (H1 FY26: US$29.6 million; FY26: US$43.7 million) which excludes cash to be distributed as a special dividend to shareholders of the Group. CORPORATE • Technology consultancy • Mason Advisory’s principal revenue stream is professional services Revenue of US$16.7 million (H1 FY26: US$18.1 million) EBITDA of US$1.6 million (H1 FY26: US$1.3 million) Net cash of US$2.8 million (H1 FY26: US$3.1 million) Disclaimer This announcement may contain statements regarding the future financial performance of the Group, which may be considered to be forward looking statements. By their nature, forward looking statements involve risk and uncertainty, and although the Group has taken reasonable care to ensure the accuracy of the information presented, no assurance can be given that such expectations will prove to have been correct. The Group has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements and there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. It is important to note that: 1. unless otherwise indicated, forward looking statements indicate the Group’s expectations and have not been reviewed or reported on by the Group’s external auditors; 2. actual results may differ materially from the Group’s expectations if known and unknown risks or uncertainties affect its business, or if estimates or assumptions prove inaccurate; 3. the Group cannot guarantee that any forward looking statement will materialise and, accordingly, readers are cautioned not to place undue reliance on these forward looking statements; and 4. the Group disclaims any intention and assumes no obligation to update or revise any forward looking statement, even if new information becomes available, as a result of future events or for any other reason, other than as required by the JSE Limited Listings Requirements. The financial results presented for management consulting and corporate have been derived from the respective underlying financial reporting packs.
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CASH DIVIDEND AND SCRIP DISTRIBUTION ALTERNATIVE Introduction Introduction Notice is hereby given that the Board has declared an interim distribution for the six months ended 31 August 2026, by way of an interim cash dividend of 250 ZAR cents per Datatec ordinary share (“Cash Dividend”) payable to the ordinary shareholders (the “Shareholders”), which will be in proportion to a Shareholder’s ordinary shareholding in Datatec at the close of business on the Record Date, being Friday, 4 December 2026 (“Record Date”). Shareholders will be entitled, in respect of all or part of their shareholding, to elect to receive new, fully paid ordinary Datatec shares (“Shares”) in proportion to their ordinary shareholding on the Record Date as an alternative to the cash dividend (the “Scrip Distribution”). The Cash Dividend has been declared and paid out of Datatec’s distributable retained profits. A dividend withholding tax of 20% will be applicable in respect of the Cash Dividend to all Shareholders not exempt therefrom after deduction of which, the net Cash Dividend is 200 ZAR cents per Share. The new Shares issued pursuant to the Scrip Distribution, will not be subject to a dividend withholding tax, and the issue price of the Scrip Distribution (which will equal the volume weighted average price (“VWAP”) of Datatec’s Shares traded on the JSE for the 30-day trading day period ending on Monday, 23 November 2026 less the amount of the Cash Dividend), will be settled by way of a capitalisation of Datatec’s distributable retained profits. The Company’s total number of Shares is 337 576 428 as at the date of this announcement of which the Company holds 31 677 Shares as treasury Shares. Datatec’s income tax reference number is 9999/493/71/2. Terms of the Cash Dividend and Scrip Distribution alternative The Shareholders will be entitled to receive the Cash Dividend of 250 ZAR cents per Share in respect of their shareholding as at the close of trading on the JSE on the Record Date, being Friday, 4 December 2026 in proportion to their ordinary shareholding in Datatec and to the extent that such Shareholders have not elected to receive the Scrip Distribution alternative in respect of all or a part of their shareholding. Shareholders will, however, be entitled to elect to receive a Scrip Distribution of new, fully paid Shares in respect of their shareholding in Datatec as at the Record Date, in respect of all or part of their ordinary shareholding, instead of the Cash Dividend. The number of Scrip Distribution Shares to which each of the Shareholders will become entitled pursuant to the Scrip Distribution (subject to their election thereto) will be determined by reference to such Shareholder’s ordinary shareholding in Datatec (at the close of business on the Record Date, being Friday, 4 December 2026) in relation to the ratio that 250 ZAR cents bears to the VWAP of a Datatec ordinary share traded on the JSE during the 30-day trading period ending on Monday, 23 November 2026 less the amount of the Cash Dividend (250 ZAR cents), provided that, where the application of this ratio gives rise to a fraction of a Share, the rounding principles will be applied. Where a Shareholder’s entitlement to new Shares calculated in accordance with the above formula gives rise to a fraction of a new Share, such fraction of a new Share will be rounded down to the nearest whole number, resulting in allocations of whole Shares and a cash payment for the fraction. The applicable cash payment will be determined with reference to the VWAP of a Share traded on the JSE on Wednesday, 2 December 2026, (being the day on which Datatec ordinary shares begin trading ‘ex’ the entitlement to receive the Cash Dividend or the Scrip Distribution alternative), discounted by 10%. Details of the ratio and the fractional entitlement will be announced on the Stock Exchange News Service (“SENS”) of the JSE in accordance with the timetable on the following page. 23 DATATEC
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C Circular and salient dates A circular providing Shareholders with full information on the Cash Dividend or Scrip Distribution alternative, including a Form of Election to elect to receive the Scrip Distribution alternative will be distributed to Shareholders on or about Thursday, 5 November 2026 (the “Circular”). The salient dates of events thereafter are as follows: Record date for Shareholders to be registered in the Company’s securities register in order to be entitled to receive the Circular Friday, 30 October Distribution of Circular announced on SENS on Thursday, 5 November Circular and Form of Election (grey) distributed on Thursday, 5 November Finalisation announcement released on SENS in respect of the ratio applicable to the Scrip Distribution alternative, based on the 30-day VWAP “ex” the Cash Dividend ending on Monday, 23 November 2026, by 11h00 on Tuesday, 24 November Last day to trade in order to be eligible for the Cash Dividend and the Scrip Distribution alternative Tuesday, 1 December Shares trade “ex” the Cash Dividend and the Scrip Distribution alternative on Wednesday, 2 December Listing and trading of maximum possible number of Shares on the JSE in terms of the Scrip Distribution alternative from the commencement of trading on Wednesday, 2 December Announcement released on SENS in respect of the cash payment applicable to fractional entitlements, based on the VWAP of a Share traded on the JSE on Wednesday, 2 December 2026, discounted by 10%, by 11h00 on Thursday, 3 December Last day to elect to receive the Scrip Distribution alternative instead of the Cash Dividend, Forms of Election (grey) to reach Computershare Investor Services Proprietary Limited, the transfer secretaries of the Company by 12h00 on Friday, 4 December Record date in respect of the Cash Dividend and the Scrip Distribution alternative Friday, 4 December Event 2026 Cash Dividend payments made, and CSDP/broker accounts credited/updated with Scrip Distribution shares on Monday, 7 December Announcement relating to the results of the Cash Dividend and the Scrip Distribution alternative released on SENS on Monday, 7 December JSE listing of Shares in respect of the Scrip Distribution alternative adjusted to reflect the actual number of Shares issued in terms of the Scrip Distribution alternative at the commencement of trading on or about Tuesday, 8 December Event 2026 All times provided are South African local times. The above dates and times are subject to change. Any material change will be announced on SENS. Share certificates may not be dematerialised or rematerialised between Wednesday, 2 December 2026 and Friday, 4 December 2026, both days inclusive. If Datatec maintains a certificated register, then the register will be closed from Wednesday, 2 December 2026 to Friday, 4 December 2026, both days inclusive. Application to the Financial Surveillance Department of the South African Reserve Bank for the payment of the Cash Dividend and the Scrip Distribution alternative will be made and an announcement regarding the approval will be made on SENS. On behalf of the Board M Makanjee JP Montanana IP Dittrich Chair Chief Executive Officer Chief Financial Officer 28 October 2026 24 DATATEC CASH DIVIDEND AND SCRIP DISTRIBUTION ALTERNATIVE continued
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Condensed unaudited consolidated financial statements for the six months ended 31 August 2026
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CONTENTS Basis of preparation 27 Primary statements Condensed consolidated statement of comprehensive income 30 Condensed consolidated statement of financial position 32 Condensed consolidated statement of cash flows 34 Condensed consolidated statement of changes in total equity 36 Notes to the condensed consolidated financial statements 1. Prior period revenue recognition 37 2. Determination of headline earnings 38 3. Salient financial features 38 4. Goodwill reconciliation 39 5. Capital expenditure and commitments 39 6. Financial Instruments 40 7. Additional risk disclosures 42 8. Condensed segmental analysis 53 9. Cash and cash equivalents 58 10. Additional statement of financial position disclosures 58 11. Contingent liabilities 59 12. Subsequent events 59 13. Going concern 60 14. Pro forma supplementary information 61
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BASIS OF PREPARATION The interim report is prepared in accordance with and contains the information required by IAS 34 Interim Financial Reporting, as well as the SAICA Financial Reporting Guides as issued by the Accounting Practices Committee and Financial Pronouncements as issued by the Financial Reporting Standards Council. This interim report complies with the Companies Act 71 of 2008 of South Africa and the JSE Limited’s Listings Requirements. The preparation of this interim report for H1 FY27 was supervised by the Chief Financial Officer, Mr. Ivan Dittrich, CA(SA). Accounting policies The accounting policies applied in the preparation of these interim financial statements are in terms of International Financial Reporting Standards® Accounting Standards (“IFRS Accounting Standards”) and are consistent with those accounting policies applied in the preparation of the previous consolidated annual financial statements. New standards effective for annual periods beginning on or after 1 January 2026 The below amendment to an accounting pronouncement is effective from 1 January 2026, but does not have a material effect on the Group’s interim financial statements. Applicable standard or note Amendment Amendment application Effective reporting period IFRS 9 Financial Instruments (“IFRS 9”) and IFRS 7 Financial Instruments: Disclosures (“IFRS 7”) Classification and measurement of financial instruments These amendments clarify the requirements for the timing of recognition and derecognition of some financial assets and liabilities and assessing whether a financial asset meets the solely payments of principal and interest (“SPPI”) criterion. The amendments also add new disclosures for certain instruments with contractual terms that can change cash flows and makes updates to the disclosures for equity instruments designated at fair value through other comprehensive income. 1 January 2026 Amendment to IFRS 9 and IFRS 7 Contracts Referencing Nature-dependent Electricity These amendments change the “own use” and hedge accounting requirements of IFRS 9 and include targeted disclosure requirements to IFRS 7. These amendments apply only to contracts that expose an entity to variability in the underlying amount of electricity because the source of its generation depends on uncontrollable natural conditions (such as the weather). These are described as “contracts referencing nature-dependent electricity”. 1 January 2026 Annual improvements to IFRS – Volume 11 2024 amendments to existing accounting standards The amendment contains annual improvements which are limited to changes that either clarify the wording in an Accounting Standard or correct relatively minor unintended consequences, oversights or conflicts between the requirements in the Accounting Standards. 1 January 2026 27 DATATEC
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BASIS OF PREPARATION continued New standards, amendments to existing standards and interpretations that are not yet effective and have not yet been early adopted At the date of authorisation of these interim financial statements, the following new or revised accounting standards and amendments to existing standards applicable to the Group were in issue but not yet effective: Applicable standard or note Amendment Amendment application Effective reporting period IFRS 18 Presentation and Disclosure in Financial Statements (“IFRS 18”) New accounting standard on presentation and disclosure in financial statements The new standard focus on updates to the statement of profit or loss, specifically the structure thereof, required disclosures in the financial statements for certain profit or loss performance measures that are reported outside an entity’s financial statements and enhanced principles on aggregation and disaggregation which apply to the primary financial statements and notes in general. IFRS 18 aims to replace the above requirements previously set out in IAS 1 Presentation of Financial Statements (“IAS 1”). 1 January 2027 IFRS 19 Subsidiaries without Public Accountability: Disclosures (“IFRS 19”) New accounting standard working alongside other IFRS accounting standards Voluntary standard for eligible subsidiaries to apply reduced disclosure requirements in IFRS 19. 1 January 2027 Amendments to IFRS 19 Amendments to the existing IFRS 19 accounting standard The newly issued amendments to IFRS 19 help eligible subsidiaries by reducing disclosure requirements for Standards and amendments issued between February 2021 and May 2024. 1 January 2027 Amendments to IAS 21 Translation to a Hyperinflationary Presentation Currency Translation of financial statements from a non- hyperinflationary currency in a hyperinflationary one These amendments clarify how companies should translate financial statements from a non-hyperinflationary currency into a hyperinflationary one. These narrow- scope amendments aim to improve the usefulness of the resulting information in a cost-effective manner. Developed in response to stakeholder feedback, these amendments are expected to reduce diversity in practice and provide a clearer basis for reporting in a hyperinflationary currency. 1 January 2027 The Group did not early adopt any new, revised or amended accounting standards or interpretations. The accounting standards, amendments to issued accounting standards and interpretations, which are relevant to the Group but not yet effective at 31 August 2026, are being evaluated for the impact of these pronouncements. Other than IFRS 18, the other newly published accounting standards and amendments to issued standards and interpretations are not expected to have a material impact. The Group previously included a high-level preliminary assessment of the expected impact of IFRS 18 in its audited Group consolidated annual financial statements for the year ended 28 February 2026. The assessment remains ongoing and, based on work performed to date, there have been no substantive changes to the preliminary assessment previously disclosed. 28 DATATEC
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BASIS OF PREPARATION continued Critical judgements The results of the Group have many areas where key assumptions concerning the future, and other key areas of estimation could have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the financial period. The results contain sources of critical judgements in the following areas: • judgement in recognising revenue that contains the agent vs principal (net vs gross revenue); • judgement in determining the lease term of a lease; • judgements in recognising revenue from multi-year contracts; • judgements in determining if financial assets should be derecognised; • judgement in determining the starting point of the tax rate reconciliation; and • judgement in determining the release period of the cash flow hedge reserve Key sources of estimation uncertainty The results of the Group have many areas where key assumptions concerning the future, and other key areas of estimation could have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the financial period. The results contain sources of estimation and uncertainty in the following areas: • estimates made in determining the recoverable amount of goodwill included in the condensed consolidated statement of financial position; • estimates made in determining the probability of future taxable profits justifying the recognition of deferred tax assets; • estimates made in determining uncertain tax positions; • estimates made in determining the fair value of share-based payment expenses arising from various share incentive schemes in the Group; • estimates made in determining the level of provision required for obsolete inventory; • estimates made in determining the amount or timing relating to restructuring, legal claims, pension and dilapidation obligations; and • estimates made when measuring the expected credit losses. Going concern The Board has reviewed the future profit and cash flow projections in conjunction with the current economic climate as well as banking facilities in place to support all the operations, in order to express an opinion on the ability to continue as a going concern for the foreseeable future. These projections covered future financial performance, solvency and liquidity for a period of 12 months from the date of the release of these results. The Board has concluded that the Group will continue to be a going concern for the foreseeable future and therefore the results have been prepared on a going concern basis. 29 DATATEC
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CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME for the six months to 31 August 2026 Unaudited Unaudited Restated^ Audited Six months to Six months to Year ended US$’000 31 August 2026 31 August 2025 28 February 2026 Revenue*/^ 2 024 145 1 777 191 3 670 046 Cost of sales^ (1 512 946) (1 293 796) (2 672 242) Gross profit 511 199 483 395 997 804 Operating costs (367 480) (336 751) (700 279) Net impairment of financial assets and contract assets (186) (1 990) 42 Restructuring costs (3 096) – (9 953) Share-based payments (12 356) (5 672) (18 525) Operating profit before interest, tax, depreciation and amortisation (“EBITDA”) 128 081 138 982 269 089 Depreciation of property, plant and equipment (7 277) (7 346) (14 689) Depreciation of right-of-use assets (14 477) (13 479) (27 141) Amortisation of capitalised development expenditure (5 765) (5 707) (11 543) Amortisation of acquired intangible assets and software (5 109) (4 674) (9 492) Impairment of right-of-use assets – – (80) Operating profit 95 453 107 776 206 144 Interest income 27 400 12 895 22 465 Finance costs (34 319) (33 924) (65 525) Acquisition-related fair value adjustments (134) – – Other income – – 5 Fair value gain/(loss) on investments 114 (397) (397) Profit before taxation 88 514 86 350 162 692 Taxation (20 978) (27 200) (53 964) Profit for the period 67 536 59 150 108 728 ^ Refer to Note 1. * Included in revenue is US$7.1 million of revenue (H1 FY26: US$0.1 million; FY26: US$0.3 million) from acquisitions in the current period from the date of control. 30 DATATEC
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CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME continued for the six months to 31 August 2026 Unaudited Unaudited Audited Six months to Six months to Year ended US$’000 31 August 2026 31 August 2025 28 February 2026 Other comprehensive income Items that may be reclassified subsequently to profit and loss 8 049 (53 765) (36 424) Foreign currency translation reserve Exchange differences arising on translation to presentation currency# (3 101) 21 000 34 431 Translation of equity loans net of tax effect – (223) (375) Non-distributable reserves (119) – – Cash flow hedge reserve 13 220 (75 986) (72 707) Share-based payments reserve# (570) 980 1 789 Distributable reserves# – (23) 14 Non-controlling interests# (1 381) 487 424 Total comprehensive income for the period 75 585 5 385 72 304 Profit attributable to: Owners of the parent 54 707 50 184 91 773 Non-controlling interests 12 829 8 966 16 955 67 536 59 150 108 728 Total comprehensive income/(loss) attributable to: Owners of the parent 64 137 (4 068) 54 925 Non-controlling interests 11 448 9 453 17 379 75 585 5 385 72 304 Earnings per share (“EPS”) (US cents) Basic 23.1 21.7 39.6 Diluted basic 22.1 21.2 38.4 # H1 FY26 has been re-presented to reflect disaggregated comparative information. 31 DATATEC
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CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 31 August 2026 Unaudited Unaudited Audited Six months to Six months to Year ended US$’000 31 August 2026 31 August 2025 28 February 2026 Assets Non-current assets 1 245 922 1 027 538 1 080 142 Goodwill 290 172 279 374 290 128 Property, plant and equipment 28 166 30 740 31 187 Right-of-use assets 66 229 67 413 63 940 Capitalised development expenditure 33 811 32 228 32 693 Acquired intangible assets and software 26 161 25 056 27 702 Investments 5 345 1 514 1 500 Deferred tax assets 86 133 75 865 87 607 Finance lease receivables 22 286 27 062 24 029 Other non-current assets and contract assets 687 619 488 286 521 356 Current assets 4 173 452 3 387 640 3 564 876 Inventories 312 196 318 977 273 355 Trade receivables 2 084 371 1 776 470 1 955 775 Prepaid expenses and other receivables 351 685 348 053 331 447 Contract assets 285 869 234 029 262 581 Current tax assets 57 657 40 395 29 992 Finance lease receivables 6 856 8 815 7 612 Cash resources 1 074 818 660 901 704 114 Total assets 5 419 374 4 415 178 4 645 018 32 DATATEC
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CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION continued as at 31 August 2026 Unaudited Unaudited Audited Six months to Six months to Year ended US$’000 31 August 2026 31 August 2025 28 February 2026 Equity and liabilities Equity attributable to equity holders of the parent 162 325 488 197 540 294 Stated capital 228 568 165 388 199 398 Foreign currency translation reserve (142 037) (152 147) (138 902) Non-distributable reserves 116 656 114 801 95 193 Share-based payments reserve (8 810) 7 229 10 745 Cash flow hedge reserve (56 653) (73 152) (69 873) Distributable reserves 24 601 426 078 443 733 Non-controlling interests 39 409 80 460 78 186 Total equity 201 734 568 657 618 480 Non-current liabilities 1 035 649 533 495 570 759 Long-term interest-bearing liabilities 368 983 35 253 28 057 Lease liabilities 51 057 53 613 49 501 Liability for share-based payments 25 505 14 359 25 267 Liabilities under supplier finance arrangements 854 1 570 1 809 Acquisition-related liabilities 7 611 143 5 681 Deferred tax liabilities 26 157 25 608 25 281 Deferred revenue 46 947 54 636 62 772 Provisions 8 329 9 585 9 208 Other liabilities 500 206 338 728 363 183 Current liabilities 4 181 991 3 313 026 3 455 779 Trade and other payables 2 725 913 2 482 328 2 515 159 Special dividend payable 438 015 – – Short-term interest-bearing liabilities 568 543 411 514 458 059 Lease liabilities 26 895 28 119 27 169 Liabilities under supplier finance arrangements 48 158 11 092 46 335 Deferred revenue 202 683 160 306 216 020 Provisions 8 254 9 305 14 926 Acquisition-related liabilities 4 606 – 2 857 Current tax liabilities 33 463 36 264 35 404 Bank overdrafts 125 461 174 098 139 850 Total equity and liabilities 5 419 374 4 415 178 4 645 018 33 DATATEC
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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS for the six months to 31 August 2026 Unaudited Unaudited Audited Six months to Six months to Year ended US$’000 31 August 2026 31 August 2025 28 February 2026 Profit before taxation 88 514 86 350 162 692 Non-cash items 43 221 34 725 59 230 Settlement of share-based payment liabilities (4 639) (291) (581) Operating profit before working capital changes 127 096 120 784 221 341 Working capital changes (52 269) (12 396) 2 460 (Increase)/decrease in inventories (40 868) (45 123) 4 410 Increase in trade and other receivables (174 690) (69 195) (153 665) Decrease in trade and other payables 215 382 182 343 211 004 Increase in contract assets and contract costs (55 413) (80 154) (117 708) Increase/(decrease) in deferred revenue 3 320 (267) 58 419 Decrease/(increase) in other non-current assets and liabilities 2 331 2 220 (11 129) Decrease in finance lease receivables 2 804 1 720 6 228 Cash generated from operations 79 962 112 328 218 900 Net finance costs paid^~ (22 529) (22 707) (46 349) Taxation paid (29 542) (27 286) (56 054) Net cash inflow from operating activities 27 891 62 335 116 497 Acquisition of subsidiaries net of cash (1 905) – (6 295) Net outflow from acquisition/disposal of investments (3 000) (937) (937) Inflow from investments (Angola government bonds) – 987 1 001 Proceeds on deferred loan* – – 11 640 Additions to property, plant and equipment (4 695) (5 221) (12 215) Additions to capitalised development expenditure (6 882) (5 838) (12 136) Additions to software (585) (708) (2 504) Proceeds on disposal of property, plant and equipment 1 057 24 255 Net cash outflow from investing activities (16 010) (11 693) (21 191) 34 DATATEC
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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS continued for the six months to 31 August 2026 Unaudited Unaudited Audited Six months to Six months to Year ended US$’000 31 August 2026 31 August 2025 28 February 2026 Net proceeds/(outflows) from transactions with non-controlling interests 9 180 (480) (1 149) Dividend paid to shareholders (7 342) (14 440) (20 700) Dividend paid to non-controlling interests (39 977) (1 312) (10 919) Treasury shares purchased for employee-based remuneration plans (14 305) (6 759) (7 374) Treasury shares purchased under share repurchase programme – (8 645) (11 469) Net repurchases from divisional management incentive plans (109) (627) (627) Overdrafts repayable on demand under certain conditions (4 986) (2 075) (20 251) Proceeds from supplier finance arrangements 3 569 – 34 305 Repayment of supplier finance arrangements (11 022) (11 765) (21 900) Repayment of lease liabilities – principal (15 155) (13 670) (34 276) Proceeds from short-term liabilities 94 947 101 776 157 020 Repayment of short-term liabilities (1 822) (3 244) (15 906) Proceeds from long-term liabilities 389 404 22 788 37 447 Repayment of long-term liabilities (34 231) (24 377) (43 722) Net cash inflow from financing activities 368 151 37 170 40 479 Net increase in cash and cash equivalents 380 032 87 812 135 785 Cash and cash equivalents at the beginning of the period 652 773 496 768 496 768 Translation differences on cash and cash equivalents 181 8 742 20 220 Cash and cash equivalents at the end of the period (refer to note 9) 1 032 986 593 322 652 773 ^ Finance costs include US$2.5 million (H1 FY26: US$2.4 million; FY26: US$4.0 million) of finance costs related to finance leases that are included in cash flows from operating activities. ~ Finance costs include US$7.5 million (H1 FY26: US$6.7 million; FY26: US$12.6 million) interest on bank overdrafts repayable on demand under certain conditions. These finance costs are included in cash flows from operating activities. * This amount represents proceeds from the repayment of the Analysys Mason Limited deferred loan note. 35 DATATEC
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CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN TOTAL EQUITY for the six months to 31 August 2026 Unaudited Unaudited Audited Six months to Six months to Year ended US$’000 31 August 2026 31 August 2025 28 February 2026 Balance at the beginning of the period 618 480 594 607 594 607 Transactions with equity holders of the parent Comprehensive income/(loss) 64 137 (4 068) 54 925 Dividend – out of distributable reserves (473 839) (26 032) (50 003) Dividend – scrip 23 772 11 592 29 303 Deferred bonus warrants (869) (89) (1 017) Disposals of subsidiaries (530) – 34 Share-based payments vested (8 997) (4 789) (3 977) Deferred bonus warrants share appreciation rights exercised (12 757) – – Charge and settlement for equity-settled share-based payments 2 769 2 019 4 840 Movements in non-distributable reserves 20 211 34 (518) Shares purchased under share repurchase programme – (8 645) (11 469) Treasury shares used to settle schemes 8 134 3 658 3 658 Treasury shares purchased – (6 420) (6 420) Transactions with non-controlling interests Comprehensive income 11 448 9 453 17 379 Net movement in non-controlling interests (10 093) (1 364) (4 957) Dividend to non-controlling interests (40 132) (1 299) (7 905) Balance at the end of the period 201 734 568 657 618 480 36 DATATEC
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1. PRIOR PERIOD REVENUE RECOGNITION During FY26, after reconsidering previous judgements applied, the Group identified an error relating to revenue of a specific product in Westcon International which was presented on a gross basis rather than a net basis. While previously bundled as a single performance obligation with hardware, these products are now deemed distinct (two separate performance obligations) as per IFRS 15. Accordingly, the comparative information for the year ended 31 August 2025 has been restated to correct this error in accordance with IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors (“IAS 8”). As a result, the Group has restated its condensed consolidated statement of comprehensive income to reflect 100% of the commissions or gross profits earned by the Group for acting as an agent in the sale of the specific product type, as revenue. This has resulted in a decrease in revenue and a corresponding decrease in cost of sales in H1 FY26. The amount of the restatement for 31 August 2025 is shown in the table below: Six months to 31 August 2025 Six months to 31 August 2025 Six months to 31 August 2025 As previously presented Total restatement Restated US$’000 US$’000 US$’000 Revenue 1 835 923 (58 732) 1 777 191 Cost of sales (1 352 528) 58 732 (1 293 796) Gross profit 483 395 – 483 395 The restatement has no impact on gross profit or items below gross profit in the condensed consolidated statement of comprehensive income. In addition, there was no impact on earnings or earnings per share. Further, the restatement has no impact on the condensed consolidated statement of financial position or condensed consolidated statement of cash flows. 37 DATATEC
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2. DETERMINATION OF HEADLINE EARNINGS for the six months to 31 August 2026 Unaudited Unaudited Audited Six months to Six months to Year ended US$’000 31 August 2026 31 August 2025 28 February 2026 Reconciliation of attributable profit to headline earnings Profit attributable to the equity holders of the parent 54 707 50 184 91 773 Headline earnings adjustments (2 008) 527 716 Impairment of right-of-use assets – – 80 (Gain)/loss on disposal of investments (114) 397 397 Net (gain)/loss on disposal of property, plant and equipment, capital development expenditure, software and right-of-use assets (1 861) 199 104 Net loss on derecognition of right-of-use assets and lease liabilities terminated 5 – 310 Tax effect (35) (35) (120) Non-controlling interests (3) (34) (55) Headline earnings 52 699 50 711 92 489 3. SALIENT FINANCIAL FEATURES for the six months to 31 August 2026 Unaudited Unaudited Restated^ Audited Six months to Six months to Year ended US$’000 31 August 2026 31 August 2025 28 February 2026 Headline earnings 52 699 50 711 92 489 Headline earnings per share (US cents) Headline 22.3 22.0 39.9 Diluted headline 21.3 21.4 38.7 Net asset value Net asset value per share (US cents) 67.1 210.9 229.9 Key ratios Gross margin (%)^ 25.3 27.2 27.2 EBITDA margin (%)^ 6.3 7.8 7.3 Effective tax rate (%) 23.7 31.5 33.2 Exchange rates Average Rand/US$ exchange rate 16.5 18.1 17.4 Closing Rand/US$ exchange rate 16.1 17.6 15.9 Number of shares issued (millions) Issued 243 235 239 Issued (excluding treasury shares and shares held by participants under deferred bonus plan) 242 231 235 Weighted average 237 231 232 Diluted weighted average 247 237 239 ^ H1 FY26 restated. Refer to note 1. 38 DATATEC
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4. GOODWILL RECONCILIATION as at 31 August 2026 Unaudited Unaudited Audited Six months to Six months to Year ended US$’000 31 August 2026 31 August 2025 28 February 2026 Net book value 290 172 279 374 290 128 At the beginning of the period 290 128 274 212 274 212 Arising on acquisition of subsidiaries 1 087 – 8 466 Translation and other movements (1 043) 5 162 7 450 Balance at the end of the period 290 172 279 374 290 128 Goodwill at cost 290 172 279 374 290 128 Per cash-generating unit: 290 172 279 374 290 128 Westcon International 10 008 4 155 10 008 Logicalis International 217 739 213 185 217 209 Logicalis Latin America 35 362 34 972 35 848 Corporate and Management Consulting 27 063 27 062 27 063 5. CAPITAL EXPENDITURE AND COMMITMENTS as at 31 August 2026 Unaudited Unaudited Audited Six months to Six months to Year ended US$’000 31 August 2026 31 August 2025 28 February 2026 Capital expenditure incurred in the current period (including capitalised development expenditure) 12 162 11 768 26 855 Capital commitments at the end of the period 17 857 18 251 32 468 39 DATATEC
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6. FINANCIAL INSTRUMENTS as at 31 August 2026 The table that follows sets out the Group’s classification of each class of financial instrument, at their fair values. The carrying amounts of these financial instruments approximates their fair values, therefore no fair value disclosures are provided. The different fair value levels are described below. • Level 1 – inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date; • Level 2 – inputs are inputs, other than quoted prices included within level 1, that are observable for the asset or liability, either directly or indirectly; and • Level 3 – inputs are inputs for the asset or liability that are not based on observable market data (unobservable inputs). In estimating the fair value of an asset or liability, the Group uses market- observable data to the extent it is available. Where level 1 inputs are not available, the Group engages qualified third-party valuers to perform the valuation. Acquisition-related liabilities represent purchase considerations owing in respect of acquisitions. The purchase considerations are to be settled with the vendors in cash or shares on achievement of agreed performance criteria. The amounts owing are interest free. Acquisition- related liabilities are classified as financial liabilities designated at fair value through profit or loss except where the option portion is fixed in which case they are classified as financial liabilities at amortised cost. They are classified as level 3 financial instruments, whose fair value measurements are derived from inputs that are unobservable for the liabilities. Movements are presented in the statement of comprehensive income as acquisition-related fair value adjustments. There were no transfers between level 1 and level 2 during the period for recurring fair value measurements. 40 DATATEC
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6. FINANCIAL INSTRUMENTS continued as at 31 August 2026 Unaudited Unaudited Audited Six months to Six months to Year ended US$’000 31 August 2026 31 August 2025 28 February 2026 Financial assets Financial assets at amortised cost Gross trade accounts receivable 2 111 195 1 810 091 1 986 095 Less: Expected credit loss allowances (26 824) (33 621) (30 320) Bonds 1 500 1 514 1 500 Other long-term assets due 426 512 270 912 287 976 Finance lease receivables 29 142 35 877 31 641 Sundry receivables 76 518 99 566 102 567 Cash resources 1 074 818 660 901 704 114 Financial assets at fair value through profit or loss Derivative financial assets not designated as hedging instruments 28 061 38 358 32 724 Derivative financial assets at fair value – designated as cash flow hedges 2 618 1 418 1 605 3 723 540 2 885 016 3 117 902 Financial liabilities Financial liabilities at amortised cost Trade payables 2 136 627 1 893 535 1 895 829 Other payables and other financial liabilities 225 115 328 325 254 723 Special dividend payable 438 015 – – Other non-current liabilities 352 777 338 728 372 028 Long-term interest-bearing liabilities* 409 078 53 294 52 665 Lease liabilities* 77 952 81 732 85 412 Liabilities under supplier finance arrangements 49 012 12 662 48 144 Short-term interest-bearing liabilities 528 448 393 473 435 437 Bank overdrafts 125 461 174 098 139 850 Financial liabilities at fair value through profit or loss Acquisition-related liabilities 12 217 143 8 922 Derivative financial liabilities not designated as hedging instruments 27 202 22 136 27 434 Derivative financial assets at fair value – designated as cash flow hedges 11 566 34 089 15 729 4 393 470 3 332 215 3 336 173 * Includes current portion of long-term liabilities. 41 DATATEC
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7. ADDITIONAL RISK DISCLOSURES as at 31 August 2026 Liquidity and borrowing facilities The Group is dependent on its bank overdrafts and trade finance facilities to operate. These facilities generally consist of either a fixed term or fixed period and may be repayable on demand, are secured against the assets of the entity to which the facility is made available and contain certain covenants including financial covenants such as minimum liquidity, maximum leverage and pre-tax earnings coverage. In certain circumstances, if these covenants are violated and a waiver is not obtained for such violation, this may, amongst other things, mean that the facility may be repayable on demand. • Westcon International utilises various financing arrangements to manage working capital and liquidity risk, including: – Europe: A total invoice assignment facility of EUR525.0 million (which includes a seasonal facility available during the months of August, January and February of EUR50.0 million), overdraft facilities of EUR4.0 million, as well as an extended payables facility of US$155.0 million. – Asia-Pacific: A securitisation facility of US$130.0 million, accounts receivable facilities totalling US$11.0 million, as well as extended payables facilities of US$50.0 million. – The Middle East and Africa: Accounts receivable facility totalling US$25.0 million in the Middle East, as well as a securitisation facility in South Africa of ZAR300.0 million. • Logicalis International is supported by a corporate facility of US$110.0 million, covering all its operations, comprising a rolling credit facility and a pooling overdraft, to fund working capital requirements. • Logicalis Latin America is supported separately via a number of uncommitted overdraft facilities and short-term lending arrangements and is predominantly sourced via Tier 1 banks in Brazil as it is the largest territory in the region. The Group continues to monitor the funding needs of its individual operations and works closely with various financial institutions to ensure adequate liquidity. The Group has performed covenant projections for the next 12 months to confirm that banking covenants are expected to be met. Trade receivables There have been no material changes to the Group’s concentration of credit risk or the maturity analysis of its financial liabilities since the year-end. In the current and prior year, no single customer balance exceeded 5% of the total trade receivables balance of the Group at the end of the period. Gross trade receivables have grown, reflecting growth in trading activity, while the expected credit loss allowance has decreased. However, over 90 days past due receivables have remained steady, and have increased marginally as a percentage of gross trade receivables (3.38%) from FY26 (3.33%) (H1 FY26: 3.97%). The overall trade receivables profile remains stable, collections continue to progress in line with expectations, and no significant credit risk has been identified. The majority of the trade receivables balance is classified as current. Over 90% (93.46%) of the total expected credit loss allowance (FY26: 96.69%; H1 FY26: 95.04%) is attributable to the over 90 days past due receivable balance. The Group therefore has sufficient expected credit loss allowances. Management has concluded that the likelihood of material expected credit losses is low. 42 DATATEC
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7. ADDITIONAL RISK DISCLOSURES continued as at 31 August 2026 Days past due The following tables detail the credit risk profile of trade receivables based on the Group’s provision matrix. The past due receivables aging categories in the following table are shown gross, before taking into account expected credit loss allowances. Where there are no expected credit loss allowances, the balances are deemed to be recoverable and there are either payment plans in place with the relevant customers or discussions with the customers are ongoing to resolve the payment of the outstanding balances. Where applicable, negative amounts represent credits on accounts that have not yet been applied/cleared due to timing of customer approvals as well as payments received in advance. Unaudited – Six months to 31 August 2026 US$’000 North America Latin America Europe Asia- Pacific MEA Total Datatec Group Total Current 110 697 53 100 1 058 458 374 451 171 172 1 767 878 1 – 30 days past due 30 935 10 912 52 243 56 304 22 299 172 693 31 – 60 days past due 4 217 3 242 15 705 14 040 17 533 54 737 61 – 90 days past due 1 213 1 720 27 220 5 757 8 538 44 448 91 – 120 days past due 793 1 441 3 979 4 278 7 991 18 482 Over 120 days past due 548 5 777 10 217 9 538 26 877 52 957 Gross trade receivables 148 403 76 192 1 167 822 464 368 254 410 2 111 195 Expected credit loss allowance (125) (3 628) (5 391) (3 860) (13 820) (26 824) Expected credit loss allowance % 0.08 4.76 0.46 0.83 5.43 1.27 Net trade receivables 148 278 72 564 1 162 431 460 508 240 590 2 084 371 Total trade receivables over 90 days past due 1 341 7 218 14 196 13 816 34 868 71 439 Expected credit loss allowance allocated to over 90 days past due (107) (2 774) (4 961) (3 495) (13 734) (25 071) Over 90 days past due expected credit loss allowance % 7.98 38.43 34.95 25.30 39.39 35.09 Percentage of total expected credit loss allowance attributable to over 90 days past due receivables 85.60 76.46 92.02 90.54 99.38 93.46 43 DATATEC
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7. ADDITIONAL RISK DISCLOSURES continued as at 31 August 2026 Unaudited – Six months to 31 August 2026 US$’000 North America Latin America Europe Asia- Pacific MEA Total Westcon International Current 5 592 – 970 741 317 029 169 258 1 462 620 1 – 30 days past due (19) – 41 978 38 943 21 479 102 381 31 – 60 days past due 132 – 9 808 9 556 16 327 35 823 61 – 90 days past due 43 – 25 935 3 354 8 500 37 832 91 – 120 days past due 69 – 2 353 2 018 7 973 12 413 Over 120 days past due 194 – 7 661 5 771 26 444 40 070 Gross trade receivables 6 011 – 1 058 476 376 671 249 981 1 691 139 Expected credit loss allowance – – (4 085) (2 638) (13 506) (20 229) Expected credit loss allowance % – – 0.39 0.70 5.40 1.20 Net trade receivables 6 011 – 1 054 391 374 033 236 475 1 670 910 Total trade receivables over 90 days past due 263 – 10 014 7 789 34 417 52 483 Expected credit loss allowance allocated to over 90 days past due – – (4 070) (2 296) (13 446) (19 812) Over 90 days past due expected credit loss allowance % – – 40.64 29.48 39.07 37.75 Percentage of total expected credit loss allowance attributable to over 90 days past due receivables – – 99.63 87.04 99.56 97.94 Logicalis International Current 105 105 – 84 763 57 342 1 914 249 124 1 – 30 days past due 30 954 – 9 755 17 351 820 58 880 31 – 60 days past due 4 085 – 5 786 4 484 1 206 15 561 61 – 90 days past due 1 170 – 1 250 2 403 38 4 861 91 – 120 days past due 724 – 1 591 2 260 18 4 593 Over 120 days past due 354 – 2 472 3 767 433 7 026 Gross trade receivables 142 392 – 105 617 87 607 4 429 340 045 Expected credit loss allowance (125) – (1 306) (1 222) (314) (2 967) Expected credit loss allowance % 0.09 – 1.24 1.39 7.09 0.87 Net trade receivables 142 267 – 104 311 86 385 4 115 337 078 Total trade receivables over 90 days past due 1 078 – 4 063 6 027 451 11 619 Expected credit loss allowance allocated to over 90 days past due (107) – (891) (1 199) (288) (2 485) Over 90 days past due expected credit loss allowance % 9.93 – 21.93 19.89 63.86 21.39 Percentage of total expected credit loss allowance attributable to over 90 days past due receivables 85.60 – 68.22 98.12 91.72 83.75 44 DATATEC
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7. ADDITIONAL RISK DISCLOSURES continued as at 31 August 2026 Unaudited – Six months to 31 August 2026 US$’000 North America Latin America Europe Asia- Pacific MEA Total Logicalis Latin America Current – 53 025 – – – 53 025 1 – 30 days past due – 10 761 – – – 10 761 31 – 60 days past due – 3 231 – – – 3 231 61 – 90 days past due – 1 720 – – – 1 720 91 – 120 days past due – 1 441 – – – 1 441 Over 120 days past due – 5 647 – – – 5 647 Gross trade receivables – 75 825 – – – 75 825 Expected credit loss allowance – (3 569) – – – (3 569) Expected credit loss allowance % – 4.71 – – – 4.71 Net trade receivables – 72 256 – – – 72 256 Total trade receivables over 90 days past due – 7 088 – – – 7 088 Expected credit loss allowance allocated to over 90 days past due – (2 716) – – – (2 716) Over 90 days past due expected credit loss allowance % – 38.32 – – – 38.32 Percentage of total expected credit loss allowance attributable to over 90 days past due receivables – 76.10 – – – 76.10 Corporate and Management Consulting Current – 75 2 954 80 – 3 109 1 – 30 days past due – 151 510 10 – 671 31 – 60 days past due – 11 111 – – 122 61 – 90 days past due – – 35 – – 35 91 – 120 days past due – – 35 – – 35 Over 120 days past due – 130 84 – – 214 Gross trade receivables – 367 3 729 90 – 4 186 Expected credit loss allowance – (59) – – – (59) Expected credit loss allowance % – 16.08 – – – 1.41 Net trade receivables – 308 3 729 90 – 4 127 Total trade receivables over 90 days past due – 130 119 – – 249 Expected credit loss allowance allocated to over 90 days past due – (58) – – – (58) Over 90 days past due expected credit loss allowance % – 44.62 – – – 23.29 Percentage of total expected credit loss allowance attributable to over 90 days past due receivables – 98.31 – – – 98.31 45 DATATEC
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7. ADDITIONAL RISK DISCLOSURES continued as at 31 August 2026 Unaudited – Six months to 31 August 2025 US$’000 North America Latin America Europe Asia- Pacific MEA Total Datatec Group Total Current 62 060 85 963 914 866 287 542 136 343 1 486 774 1 – 30 days past due 19 804 9 635 74 624 45 515 20 125 169 703 31 – 60 days past due 7 981 3 133 25 359 10 659 14 103 61 235 61 – 90 days past due 842 1 368 8 242 7 719 2 381 20 552 91 – 120 days past due 628 1 993 2 881 2 566 3 064 11 132 Over 120 days past due 927 7 196 18 898 10 169 23 505 60 695 Gross trade receivables 92 242 109 288 1 044 870 364 170 199 521 1 810 091 Expected credit loss allowance (188) (1 750) (12 681) (3 798) (15 204) (33 621) Expected credit loss allowance % 0.20 1.60 1.21 1.04 7.62 1.86 Net trade receivables 92 054 107 538 1 032 189 360 372 184 317 1 776 470 Total trade receivables over 90 days past due 1 555 9 189 21 779 12 735 26 569 71 827 Expected credit loss allowance allocated to over 90 days past due – (1 535) (11 531) (3 718) (15 168) (31 952) Over 90 days past due expected credit loss allowance % – 16.70 52.95 29.20 57.09 44.48 Percentage of total expected credit loss allowance attributable to over 90 days past due receivables – 87.71 90.93 97.89 99.76 95.04 Westcon International Current 859 – 825 456 239 587 133 846 1 199 748 1 – 30 days past due 37 – 58 010 33 593 19 287 110 927 31 – 60 days past due 4 – 22 189 6 338 13 831 42 362 61 – 90 days past due (44) – 7 479 5 841 2 352 15 628 91 – 120 days past due – – 1 441 1 794 3 025 6 260 Over 120 days past due 155 – 17 909 5 656 22 624 46 344 Gross trade receivables 1 011 – 932 484 292 809 194 965 1 421 269 Expected credit loss allowance – – (11 652) (1 663) (15 148) (28 463) Expected credit loss allowance % – – 1.25 0.57 7.77 2.00 Net trade receivables 1 011 – 920 832 291 146 179 817 1 392 806 Total trade receivables over 90 days past due 155 – 19 350 7 450 25 649 52 604 Expected credit loss allowance allocated to over 90 days past due – – (10 820) (1 661) (15 130) (27 611) Over 90 days past due expected credit loss allowance % – – 55.92 22.30 58.99 52.49 Percentage of total expected credit loss allowance attributable to over 90 days past due receivables – – 92.86 99.88 99.88 97.01 46 DATATEC
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7. ADDITIONAL RISK DISCLOSURES continued as at 31 August 2026 Unaudited – Six months to 31 August 2025 US$’000 North America Latin America Europe Asia- Pacific MEA Total Logicalis International Current 61 201 – 86 317 47 955 2 497 197 970 1 – 30 days past due 19 767 – 16 170 11 922 838 48 697 31 – 60 days past due 7 977 – 2 994 4 321 272 15 564 61 – 90 days past due 886 – 738 1 878 29 3 531 91 – 120 days past due 628 – 1 419 772 39 2 858 Over 120 days past due 772 – 905 4 513 881 7 071 Gross trade receivables 91 231 – 108 543 71 361 4 556 275 691 Expected credit loss allowance (188) – (1 029) (2 135) (56) (3 408) Expected credit loss allowance % 0.21 – 0.95 2.99 1.23 1.24 Net trade receivables 91 043 – 107 514 69 226 4 500 272 283 Total trade receivables over 90 days past due 1 400 – 2 324 5 285 920 9 929 Expected credit loss allowance allocated to over 90 days past due – – (711) (2 057) (38) (2 806) Over 90 days past due expected credit loss allowance % – – 30.59 38.92 4.13 28.26 Percentage of total expected credit loss allowance attributable to over 90 days past due receivables – – 69.10 96.35 67.86 82.34 Logicalis Latin America Current – 85 858 – – – 85 858 1 – 30 days past due – 9 564 – – – 9 564 31 – 60 days past due – 3 118 – – – 3 118 61 – 90 days past due – 1 361 – – – 1 361 91 – 120 days past due – 1 993 – – – 1 993 Over 120 days past due – 7 074 – – – 7 074 Gross trade receivables – 108 968 – – – 108 968 Expected credit loss allowance – (1 693) – – – (1 693) Expected credit loss allowance % – 1.55 – – – 1.55 Net trade receivables – 107 275 – – – 107 275 Total trade receivables over 90 days past due – 9 067 – – – 9 067 Expected credit loss allowance allocated to over 90 days past due – (1 535) – – – (1 535) Over 90 days past due expected credit loss allowance % – 16.93 – – – 16.93 Percentage of total expected credit loss allowance attributable to over 90 days past due receivables – 90.67 – – – 90.67 47 DATATEC
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7. ADDITIONAL RISK DISCLOSURES continued as at 31 August 2026 Unaudited – Six months to 31 August 2025 US$’000 North America Latin America Europe Asia- Pacific MEA Total Corporate and Management Consulting Current – 105 3 093 – – 3 198 1 – 30 days past due – 71 444 – – 515 31 – 60 days past due – 15 176 – – 191 61 – 90 days past due – 7 25 – – 32 91 – 120 days past due – – 21 – – 21 Over 120 days past due – 122 84 – – 206 Gross trade receivables – 320 3 843 – – 4 163 Expected credit loss allowance – (57) – – – (57) Expected credit loss allowance % – 17.81 – – – 1.37 Net trade receivables – 263 3 843 – – 4 106 Total trade receivables over 90 days past due – 122 105 – – 227 Expected credit loss allowance allocated to over 90 days past due – – – – – – Over 90 days past due expected credit loss allowance % – – – – – – Percentage of total expected credit loss allowance attributable to over 90 days past due receivables – – – – – – 48 DATATEC
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7. ADDITIONAL RISK DISCLOSURES continued as at 31 August 2026 Audited – Year ended 28 February 2026 US$’000 North America Latin America Europe Asia- Pacific MEA Total Datatec Group Total Current 95 662 81 617 1 076 220 306 964 141 974 1 702 437 1 – 30 days past due 11 928 7 201 39 346 39 666 22 902 121 043 31 – 60 days past due 4 863 4 246 42 300 21 849 9 867 83 125 61 – 90 days past due 784 867 3 941 1 953 5 771 13 316 91 – 120 days past due 747 1 263 1 409 3 302 2 865 9 586 Over 120 days past due 692 5 456 11 403 12 261 26 776 56 588 Gross trade receivables 114 676 100 650 1 174 619 385 995 210 155 1 986 095 Expected credit loss allowance (195) (3 872) (6 789) (3 622) (15 842) (30 320) Expected credit loss allowance % 0.17 3.85 0.58 0.94 7.54 1.53 Net trade receivables 114 481 96 778 1 167 830 382 373 194 313 1 955 775 Total trade receivables over 90 days past due 1 439 6 719 12 812 15 563 29 641 66 174 Expected credit loss allowance allocated to over 90 days past due (134) (3 701) (6 364) (3 609) (15 509) (29 317) Over 90 days past due expected credit loss allowance % 9.31 55.08 49.67 23.19 52.32 44.30 Percentage of total expected credit loss allowance attributable to over 90 days past due receivables 68.72 95.58 93.74 99.64 97.90 96.69 Westcon International Current 5 100 – 965 582 260 084 140 108 1 370 874 1 – 30 days past due 256 – 25 334 27 616 21 567 74 773 31 – 60 days past due 96 – 6 444 19 889 9 466 35 895 61 – 90 days past due 47 – 2 399 377 5 713 8 536 91 – 120 days past due 59 – 1 202 2 811 2 819 6 891 Over 120 days past due (45) – 10 073 8 469 26 157 44 654 Gross trade receivables 5 513 – 1 011 034 319 246 205 830 1 541 623 Expected credit loss allowance – – (5 604) (2 095) (14 956) (22 655) Expected credit loss allowance % – – 0.55 0.66 7.27 1.47 Net trade receivables 5 513 – 1 005 430 317 151 190 874 1 518 968 Total trade receivables over 90 days past due 14 – 11 275 11 280 28 976 51 545 Expected credit loss allowance allocated to over 90 days past due – – (5 590) (2 095) (14 924) (22 609) Over 90 days past due expected credit loss allowance % – – 49.58 18.57 51.50 43.86 Percentage of total expected credit loss allowance attributable to over 90 days past due receivables – – 99.75 100.00 99.79 99.80 49 DATATEC
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7. ADDITIONAL RISK DISCLOSURES continued as at 31 August 2026 Audited – Year ended 28 February 2026 US$’000 North America Latin America Europe Asia- Pacific MEA Total Logicalis International Current 90 562 – 104 960 46 753 1 866 244 141 1 – 30 days past due 11 672 – 13 941 12 052 1 335 39 000 31 – 60 days past due 4 767 – 35 893 1 960 401 43 021 61 – 90 days past due 737 – 1 278 1 576 58 3 649 91 – 120 days past due 688 – 161 491 46 1 386 Over 120 days past due 737 – 1 227 3 792 619 6 375 Gross trade receivables 109 163 – 157 460 66 624 4 325 337 572 Expected credit loss allowance (195) – (1 185) (1 527) (886) (3 793) Expected credit loss allowance % 0.18 – 0.75 2.29 20.49 1.12 Net trade receivables 108 968 – 156 275 65 097 3 439 333 779 Total trade receivables over 90 days past due 1 425 – 1 388 4 283 665 7 761 Expected credit loss allowance allocated to over 90 days past due (134) – (774) (1 514) (585) (3 007) Over 90 days past due expected credit loss allowance % 9.40 – 55.76 35.35 87.97 38.75 Percentage of total expected credit loss allowance attributable to over 90 days past due receivables 68.72 – 65.32 99.15 66.03 79.28 Logicalis Latin America Current – 81 265 – – – 81 265 1 – 30 days past due – 7 190 – – – 7 190 31 – 60 days past due – 4 246 – – – 4 246 61 – 90 days past due – 846 – – – 846 91 – 120 days past due – 1 263 – – – 1 263 Over 120 days past due – 5 328 – – – 5 328 Gross trade receivables – 100 138 – – – 100 138 Expected credit loss allowance – (3 812) – – – (3 812) Expected credit loss allowance % – 3.81 – – – 3.81 Net trade receivables – 96 326 – – – 96 326 Total trade receivables over 90 days past due – 6 591 – – – 6 591 Expected credit loss allowance allocated to over 90 days past due – (3 642) – – – (3 642) Over 90 days past due expected credit loss allowance % – 55.26 – – – 55.26 Percentage of total expected credit loss allowance attributable to over 90 days past due receivables – 95.54 – – – 95.54 50 DATATEC
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7. ADDITIONAL RISK DISCLOSURES continued as at 31 August 2026 Audited – Year ended 28 February 2026 US$’000 North America Latin America Europe Asia- Pacific MEA Total Corporate and Management Consulting Current – 352 5 678 127 – 6 157 1 – 30 days past due – 11 71 (2) – 80 31 – 60 days past due – – (37) – – (37) 61 – 90 days past due – 21 264 – – 285 91 – 120 days past due – – 46 – – 46 Over 120 days past due – 128 103 – – 231 Gross trade receivables – 512 6 125 125 – 6 762 Expected credit loss allowance – (60) – – – (60) Expected credit loss allowance % – 11.72 – – – 0.89 Net trade receivables – 452 6 125 125 – 6 702 Total trade receivables over 90 days past due – 128 149 – – 277 Expected credit loss allowance allocated to over 90 days past due – (59) – – – (59) Over 90 days past due expected credit loss allowance % – 46.09 – – – 21.30 Percentage of total expected credit loss allowance attributable to over 90 days past due receivables – 98.33 – – – 98.33 Reconciliation of the expected credit loss allowance account Unaudited – Six months to 31 August 2026 US$’000 North America Latin America Europe Asia- Pacific MEA Total Balance at 1 March 2026 (195) (3 872) (6 789) (3 622) (15 842) (30 320) Impairment losses recognised on trade receivables (13) (318) (1 020) (733) (72) (2 156) Impairment losses reversed 70 171 1 032 92 554 1 919 Bad debt write-offs 13 335 1 193 200 1 233 2 974 Translation and other movements – 56 193 203 307 759 Balance at 31 August 2026 (125) (3 628) (5 391) (3 860) (13 820) (26 824) Expected credit losses on trade receivables relate to the operating function of the Group. 51 DATATEC
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7. ADDITIONAL RISK DISCLOSURES continued as at 31 August 2026 Unaudited – Six months to 31 August 2025 US$’000 North America Latin America Europe Asia- Pacific MEA Total Balance at 1 March 2025 (788) (1 785) (9 274) (3 234) (16 429) (31 510) Impairment losses recognised on trade receivables – (210) (3 389) (793) (381) (4 773) Impairment losses reversed 600 314 143 6 – 1 063 Bad debt write-offs – – (702) 297 1 949 1 544 Translation and other movements – (69) 541 (74) (343) 55 Balance at 31 August 2025 (188) (1 750) (12 681) (3 798) (15 204) (33 621) Audited – Year ended 28 February 2026 US$’000 North America Latin America Europe Asia- Pacific MEA Total Balance at 1 March 2025 (788) (1 785) (9 274) (3 234) (16 429) (31 510) Impairment losses recognised on trade receivables (86) (2 750) (333) (1 744) (1 177) (6 090) Impairment losses reversed 600 943 5 290 41 – 6 874 Bad debt write-offs 79 34 460 1 446 2 081 4 100 Translation and other movements – (314) (2 932) (131) (317) (3 694) Balance at 28 February 2026 (195) (3 872) (6 789) (3 622) (15 842) (30 320) 52 DATATEC
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8. CONDENSED SEGMENTAL ANALYSIS for the six months ended 31 August 2026 For management’s internal purposes, the Group is currently organised into four operating divisions which are the basis on which the Group reports its primary segmental information. Principal activities are as follows: • Westcon International: Value-added technology distributor of industry-leading solutions. Provides class-leading cyber security, network infrastructure, unified collaboration products, data centre solutions, channel support services and financing/leasing solutions for ICT customers. • Logicalis International and Logicalis Latin America: International solutions providers of digital services. • Corporate and Management Consulting: Corporate includes Group head office companies, including the ultimate Logicalis holding company, Logicalis Group Limited and its associated costs, the consolidated results of Kumulus and Paratira Limited, and Group consolidation adjustments. Management Consulting comprises Mason Advisory Limited. Operating segments are reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker. The Chief Operating Decision Maker, who is responsible for allocating resources and assessing the performance of the operating segments, has been identified as the executive directors that make strategic decisions. During H1 FY27, H1 FY26 and FY26, there were no customers that individually accounted for over 10% of the Group’s revenue. Sales and purchases between Group companies are concluded on normal commercial terms in the ordinary course of business. The inter-group sales of goods and provision of services for the period ended 31 August 2026 amounted to US$17.1 million (H1 FY26: US$15.1 million; FY26: US$29.9 million). 53 DATATEC
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8. CONDENSED SEGMENTAL ANALYSIS continued for the six months ended 31 August 2026 Datatec Group Westcon International Unaudited Unaudited Unaudited Restated^ Audited Unaudited Restated^ Audited Six months to Six months to Year ended Six months to Six months to Year ended US$’000 31 August 2026 31 August 2025 28 February 2026 31 August 2026 31 August 2025 28 February 2026 Revenue 2 024 145 1 777 191 3 670 046 1 127 287 920 493 1 934 633 Revenue from product sales 1 521 433 1 309 863 2 713 894 1 042 514 854 797 1 804 976 Revenue from sales of hardware^ 1 279 183 1 077 658 2 227 412 944 729 758 117 1 587 947 Revenue from sales of software* 207 544 186 241 392 388 78 994 62 592 146 015 Revenue from vendor resold services and product maintenance sales^ 34 706 45 964 94 094 33 462 46 031 94 217 Inter-segmental revenue – – – (14 671) (11 943) (23 203) Revenue from services 204 385 189 025 398 474 48 502 46 061 95 206 Revenue from professional and other services 204 385 189 025 398 474 48 934 46 607 96 251 Inter-segmental revenue – – – (432) (546) (1 045) Revenue from annuity services 298 327 278 303 557 678 36 271 19 635 34 451 Revenue from cloud services 87 631 63 761 125 125 – – – Revenue from software services* 36 271 19 635 34 451 36 104 19 809 34 736 Revenue from other annuity services 174 425 194 907 398 102 – – – Inter-segmental revenue – – – 167 (174) (285) * Includes software as a service revenue. ^ Line item has been restated. Refer to Note 1. 54 DATATEC
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8. CONDENSED SEGMENTAL ANALYSIS continued for the six months ended 31 August 2026 Logicalis International Logicalis Latin America Corporate and Management Consulting Unaudited Unaudited Audited Unaudited Unaudited Audited Unaudited Unaudited Audited Six months to Six months to Year ended Six months to Six months to Year ended Six months to Six months to Year ended 31 August 2026 31 August 2025 28 February 2026 31 August 2026 31 August 2025 28 February 2026 31 August 2026 31 August 2025 28 February 2026 696 999 612 941 1 249 564 181 222 223 982 445 990 18 637 19 775 39 859 394 556 339 149 681 476 84 363 115 917 227 442 – – – 303 302 252 758 507 467 48 065 79 675 157 695 (16 913) (12 892) (25 697) 92 168 87 558 176 314 36 835 36 618 71 046 (453) (527) (987) – – – – – – 1 244 (67) (123) (914) (1 167) (2 305) (537) (376) (1 299) 16 122 13 486 26 807 111 134 98 802 203 677 26 337 23 843 60 127 18 412 20 319 39 464 111 134 98 802 203 677 26 337 23 843 60 127 17 980 19 773 38 419 – – – – – – 432 546 1 045 191 309 174 990 364 411 70 522 84 222 158 421 225 (544) 395 83 680 58 880 116 035 3 951 4 881 9 090 – – – – – – – – – 167 (174) (285) 107 629 116 110 248 376 66 571 79 341 149 331 225 (544) 395 – – – – – – (167) 174 285 55 DATATEC
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8. CONDENSED SEGMENTAL ANALYSIS continued for the six months ended 31 August 2026 Datatec Group Westcon International Unaudited Unaudited Audited Unaudited Unaudited Audited Six months to Six months to Year ended Six months to Six months to Year ended US$’000 31 August 2026 31 August 2025 28 February 2026 31 August 2026 31 August 2025 28 February 2026 Significant expenses included in EBITDA: Staff costs (269 455) (262 253) (536 954) (123 012) (123 780) (250 751) Share-based payments (12 356) (5 672) (18 525) (1 672) (1 610) (7 382) Restructuring costs (3 096) – (9 953) (2 997) – (9 553) EBITDA 128 081 138 982 269 089 76 467 90 273 163 014 Depreciation and amortisation (32 628) (31 206) (62 865) (14 682) (13 582) (27 392) Impairment of right-of-use assets – – (80) – – – Operating profit/(loss) 95 453 107 776 206 144 61 785 76 691 135 622 Interest income 27 400 12 895 22 465 1 433 1 841 3 499 Finance costs (34 319) (33 924) (65 525) (22 562) (17 374) (35 889) Acquisition-related fair value adjustments (134) – – – – – Other income – – 5 – – 5 Fair value gain/(loss) on investments 114 (397) (397) – – – Profit/(loss) before taxation 88 514 86 350 162 692 40 656 61 158 103 237 Taxation (20 978) (27 200) (53 964) (13 960) (15 207) (26 924) Profit/(loss) for the period 67 536 59 150 108 728 26 696 45 951 76 313 Assets and liabilities Total assets 5 419 374 4 415 178 4 645 018 2 959 502 2 590 177 2 710 899 Total liabilities 5 217 640 3 846 521 4 026 538 3 284 803 2 487 298 2 585 108 56 DATATEC
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8. CONDENSED SEGMENTAL ANALYSIS continued for the six months ended 31 August 2026 Logicalis International Logicalis Latin America Corporate and Management Consulting Unaudited Unaudited Audited Unaudited Unaudited Audited Unaudited Unaudited Audited Six months to Six months to Year ended Six months to Six months to Year ended Six months to Six months to Year ended 31 August 2026 31 August 2025 28 February 2026 31 August 2026 31 August 2025 28 February 2026 31 August 2026 31 August 2025 28 February 2026 (113 656) (105 383) (216 627) (28 356) (28 085) (59 725) (4 431) (5 005) (9 851) (6 650) (1 430) (6 542) (1 265) (250) 239 (2 769) (2 382) (4 840) – – – – – – (99) – (400) 64 167 50 965 107 933 (1 811) 11 515 24 559 (10 742) (13 771) (26 417) (11 634) (11 714) (23 510) (4 922) (4 719) (9 483) (1 390) (1 191) (2 480) – – (80) – – – – – – 52 533 39 251 84 343 (6 733) 6 796 15 076 (12 132) (14 962) (28 897) 3 957 6 432 9 139 20 910 3 532 7 832 1 100 1 090 1 995 (7 295) (11 069) (19 619) (4 247) (5 248) (9 506) (215) (233) (511) (134) – – – – – – – – – – – – – – – – – 114 (397) (397) – – – – – – 49 175 34 217 73 466 9 930 5 080 13 402 (11 247) (14 105) (27 413) (13 992) (10 453) (21 864) 9 137 (1 890) (3 887) (2 163) 350 (1 289) 35 183 23 764 51 602 19 067 3 190 9 515 (13 410) (13 755) (28 702) 1 517 686 1 311 617 1 404 302 409 922 426 619 425 841 532 264 86 765 103 976 1 222 986 1 047 187 1 133 312 242 618 286 526 276 483 467 233 25 510 31 635 57 DATATEC
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9. CASH AND CASH EQUIVALENTS as at 31 August 2026 Unaudited Unaudited Audited Six months to Six months to Year ended US$’000 31 August 2026 31 August 2025 28 February 2026 Cash resources per the statement of financial position 1 074 818 660 901 704 114 Bank overdrafts unconditionally repayable on demand (41 832) (67 579) (51 341) Cash and cash equivalents (per the statement of cash flows) 1 032 986 593 322 652 773 Bank overdrafts repayable on demand under certain conditions (83 629) (106 519) (88 509) Net cash resources 949 357 486 803 564 264 10. ADDITIONAL STATEMENT OF FINANCIAL POSITION DISCLOSURES as at 31 August 2026 Special dividend On 24 August 2026, the Company declared a special dividend of 2 900 ZAR cents per ordinary share, amounting to ZAR 7 053.0 million. Shareholders are entitled to elect to receive newly issued Datatec ordinary shares in respect of all or part of their entitlement as an alternative to the cash dividend. At 31 August 2026, a dividend payable of US$438.0 million was recognised and disclosed as a Special dividend payable, with a corresponding reduction in distributable reserves. Shareholder elections had not been completed at the reporting date and, accordingly, the ultimate proportion of the distribution to be settled in cash or through the issue of ordinary shares was not known. This uncertainty did not affect the carrying amount of the dividend payable at the reporting date but significantly reduced the Group’s cash outflow on settlement. Refer to Note 12 for more detail. Foreign currency derivative contracts Westcon International enters into foreign currency derivative contracts primarily to hedge forecasted sales and related cash flows denominated in foreign currencies. Eligible derivative contracts are designated as cash flow hedges of firm commitments and forecasted transactions. All changes in fair value are initially recorded in the cash flow hedge reserve, a component of accumulated other comprehensive income. Gains and losses are then periodically released from the hedge reserve to the income statement when the hedged transactions affect earnings. At 31 August 2026, the hedging reserves balance was a debit of US$56.7 million, reflecting net unrealised losses on derivative contracts. These losses offset underlying unrealised net foreign exchange gains that are present in both the Company’s committed and forecast foreign cash flows as well as designated backlog and longer-term contracts exposed to foreign exchange risk. 58 DATATEC
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10. ADDITIONAL STATEMENT OF FINANCIAL POSITION DISCLOSURES continued as at 31 August 2026 Multi-year contracts Included in other non-current assets is US$406.9 million (H1 FY26: US$265.9 million; FY26: US$275.1 million) of amounts receivable for multi-year contracts. These multi-year contracts relate to Westcon International where performance obligations have already been fulfilled. The amounts due to Westcon International are unconditional and the contracts are non-cancellable. The short-term portion (US$354.7 million (H1 FY26: US$289.5 million; FY26: US$340.7 million)) is included in trade receivables. Amounts owing for purchases related to these multi- year contracts have been recognised in other liabilities (long-term portion of US$ 352.6 million (H1 FY26: US$ 238.1 million; FY26: US$233.8 million)) and trade and other payables (short-term portion of US$321.9 million (H1 FY26: US$263.2 million; FY26: US$302.9 million)). Expected credit losses have been assessed. No material expected credit losses have been noted. Deferred tax As at H1 FY27, tax losses carried forward are estimated at US$236.6 million (H1 FY26: US$208.7 million; FY26: US$226.2 million) with an estimated future tax benefit of US$60.6 million (H1 FY26: US$53.7 million; FY26: US$56.8 million), of which US$45.8 million (H1 FY26: US$41.7 million; FY26: US$43.0 million) has been recognised as a deferred tax asset. 11. CONTINGENT LIABILITIES as at 31 August 2026 The Group has certain contingent liabilities resulting from litigation and claims. Management believes, after taking legal advice where appropriate on the probable outcome of these contingencies, that none of these contingencies will materially affect the financial position or the results of operations of the Group. 12. SUBSEQUENT EVENTS Settlement of special dividend The shareholder election period for the special dividend declared on 24 August 2026 closed on 16 October 2026. Shareholders elected to receive ZAR 2.3 billion (approximately US$141.5 million at the H1 FY27 spot rate) (32.3%) of the total distribution in cash and ZAR 4.8 billion (approximately US$296.5 million at the H1 FY27 spot rate) (67.7%) through the scrip distribution alternative. On 19 October 2026, the Company paid the cash component of ZAR 2.3 billion and issued 94,324,733 new ordinary shares in settlement of the scrip component. The US$438.0 million dividend payable recognised at H1 FY27 was therefore subsequently settled through the cash dividend payment and the issue of ordinary shares. H1 FY27 interim dividend declared On 28 October 2026, the Board declared an interim dividend of 250 ZAR cents (approximately 15 US cents) per share for H1 FY27 in the form of a cash dividend with scrip distribution alternative, amounting to ZAR843.9 million (approximately US$ 50.6 million) in total. There were no other material subsequent events. 59 DATATEC
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13. GOING CONCERN as at 31 August 2026 The Board has reviewed the future profit and cash flow projections in conjunction with the current economic climate as well as banking facilities in place to support all the operations, in order to express an opinion on the ability to continue as a going concern for the foreseeable future. These projections covered future financial performance, solvency and liquidity for a period of 12 months from the date of the release of these results. Solvency The Board determined that the Group is solvent as at 31 August 2026, with net assets of US$162.3 million (H1 FY26: US$488.2 million; FY26: US$540.3 million) and tangible net assets of US$187.8 million (H1 FY26: US$151.5 million; FY26: US$189.8 million). The Group is expected to remain solvent over the next 12 months. Liquidity • Westcon International utilises various financing arrangements to manage working capital and liquidity risk, including: – Europe: A total invoice assignment facility of EUR525.0 million (which includes a seasonal facility available during the months of August, January and February of EUR50.0 million), overdraft facilities of EUR4.0 million, as well as an extended payables facility of US$155.0 million. – Asia-Pacific: A securitisation facility of US$130.0 million, accounts receivable facilities totalling US$11.0 million, as well as extended payables facilities of US$50.0 million. – The Middle East and Africa: Accounts receivable facility totalling US$25.0 million in the Middle East, as well as a securitisation facility in South Africa of ZAR300.0 million. • Logicalis International is supported by a corporate facility of US$110.0 million, covering all its operations, comprising a rolling credit facility and a pooling overdraft, to fund working capital requirements. • Logicalis Latin America is supported separately via a number of uncommitted overdraft facilities and short-term lending arrangements and is predominantly sourced via Tier 1 banks in Brazil as it is the largest territory in the region. The Group continues to monitor the funding needs of its individual operations and works closely with various financial institutions to ensure adequate liquidity. The Group has performed covenant projections for the next 12 months to confirm that banking covenants are expected to be met. Conclusion The Board has concluded that the Group will continue to be a going concern for the foreseeable future and therefore the results have been prepared on a going concern basis. 60 DATATEC
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14. PRO FORMA SUPPLEMENTARY INFORMATION for the six months to 31 August 2026 The Group uses certain non-IFRS measures to assess the financial performance of the business and presents these as pro forma supplementary financial information. This supplementary information constitutes pro forma information in terms of the JSE Listings Requirements. The pro forma supplementary financial information has been compiled for illustrative purposes only and is the responsibility of the Datatec directors. Due to the nature of this information, it may not fairly present the Group’s financial position, changes in equity and results of operations or cash flows. The pro forma supplementary information has been compiled in terms of the JSE Listings Requirements and the Revised Guide on Pro Forma Information by SAICA. The Group’s external auditor, Deloitte & Touche, has not reviewed or reported on the pro forma information at 31 August 2026. The pro forma supplementary financial information has been compiled by the directors to illustrate the following: 1. Adjusted EBITDA The pro forma adjustments to Earnings Before Interest, Taxation, Depreciation and Amortisation (“EBITDA”) are to align with international peer reporting. Adjusted EBITDA illustrates the impact on the Group’s EBITDA had it excluded: • share-based payments; • restructuring costs; • one-off tax items impacting EBITDA; and • acquisition, integration and corporate actions costs. US$’000 Six months to 31 August 2026 Six months to 31 August 2025 Year ended 28 February 2026 EBITDA 128 081 138 982 269 089 Share-based payments 12 356 5 672 18 525 Restructuring costs 3 096 – 9 953 One-off tax items impacting EBITDA(1) – (15 456) (15 456) Acquisition, integration and corporate actions costs 7 167 – 7 973 Adjusted EBITDA 150 700 129 198 290 084 (1) Based on information underlying the condensed unaudited interim results for the six months ended 31 August 2026. 61 DATATEC
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14. PRO FORMA SUPPLEMENTARY INFORMATION continued for the six months to 31 August 2026 2. Underlying earnings The pro forma adjustments to headline earnings are to align with international peer reporting. Underlying earnings illustrates the impact on the Group’s underlying earnings had the following been excluded from headline earnings: • impairments of goodwill and intangible assets(1); • profit or loss on sale of investments and assets(1); • amortisation of acquired intangible assets; • acquisition-related adjustments(1); • fair value movements on acquisition-related financial instruments(1); • restructuring costs relating to fundamental reorganisations; • share-based payment expenses; • one-off tax items impacting EBITDA; • costs relating to acquisitions, integration and corporate actions; and • the taxation effect and non-controlling interests on all of the aforementioned. US$’000 Six months to 31 August 2026 Six months to 31 August 2025 Year ended 28 February 2026 Reconciliation of headline earnings to underlying earnings Headline earnings 52 699 50 711 92 489 Underlying earnings adjustments 18 778 (6 117) 19 308 Amortisation of acquired intangible assets 3 063 2 752 5 618 Acquisition-related fair value adjustments 134 – – Restructuring costs 3 096 – 9 953 One-off tax items impacting EBITDA(2) – (15 456) (15 456) Acquisition, integration and corporate actions costs 7 167 – 7 973 Share-based payment expenses 12 356 5 672 18 525 Tax effect(2) (4 773) (428) (5 845) Non-controlling interests(2) (2 265) 1 343 (1 460) Underlying earnings 71 477 44 594 111 797 Underlying earnings per share (US cents) Underlying 30.2 19.3 48.2 Diluted underlying 28.9 18.8 46.7 62 DATATEC (1) Items included in the definition of underlying earnings that are zero in the current and prior year and therefore not presented. (2) Based on information underlying the condensed unaudited interim results for the six months ended 31 August 2026.
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14. PRO FORMA SUPPLEMENTARY INFORMATION continued for the six months to 31 August 2026 3. Gross invoiced income Gross invoiced income (“GII”) assists the Group and the users of the financial information in understanding revenue growth on a ‘principal’ basis. This measure allows an alternative view of the growth of the business. It further assists with assessing the volume of transactions or market share. GII is defined as reported revenue under IFRS 15 Revenue from Contracts with Customers (“IFRS 15”) grossed up for all items recognised on an ‘agency’ basis within revenue, i.e. showing all revenue on a ‘principal’ basis. Revenue remains reported in accordance with IFRS 15. Under this standard, the Group is required to exercise judgement to determine whether the Group is acting as principal or agent in performing its contractual obligations. Revenue in respect of contracts for which the Group is determined to be acting as an agent is recognised on a ‘net’ basis (the gross profit achieved on the contract is recognised as revenue). The difference between GII and reported revenue under IFRS 15 is referred to below as the ‘agency adjustment’. Reconciliation of GII to revenue Six months to 31 August 2026 Six months to 31 August 2025 Year ended 28 February 2026 US$’000 Gross invoiced income(1) Agency adjustment(1) Revenue under IFRS 15 Gross invoiced income(1) Agency adjustment(1) Revenue under IFRS 15 Restated^ Gross invoiced income(1) Agency adjustment(1) Revenue under IFRS 15 Datatec Group^ 4 835 028 (2 810 883) 2 024 145 4 096 067 (2 318 876) 1 777 191 8 457 679 (4 787 633) 3 670 046 Westcon International^ 3 371 518 (2 244 231) 1 127 287 2 778 367 (1 857 874) 920 493 5 744 092 (3 809 459) 1 934 633 Logicalis International 1 226 177 (529 178) 696 999 1 037 052 (424 111) 612 941 2 148 872 (899 308) 1 249 564 Logicalis Latin America 218 696 (37 474) 181 222 260 873 (36 891) 223 982 524 856 (78 866) 445 990 Corporate and Management Consulting 18 637 – 18 637 19 775 – 19 775 39 859 – 39 859 Gross profit 511 199 511 199 483 395 483 395 997 804 997 804 Gross profit margin^ 10.6% 25.3% 11.8% 27.2% 11.8% 27.2% (1) Based on information underlying the condensed unaudited interim results for the six months ended 31 August 2026. ^ After reconsidering previous judgements applied, H1 FY26 revenue and cost of sales have been restated due to an error relating to revenue of a specific product in Westcon International, which was presented on a gross basis rather than on a net basis. This restatement which was first disclosed in the Group’s FY26 results for the year ended 28 February 2026, resulted in a reduction of both revenue and cost of sales for the six months ended 31 August 2025 of US$58.7 million. It had no impact on gross profit or the condensed consolidated statement of financial position. 63 DATATEC
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CEO Chief Executive Officer CFO Chief Financial Officer Corporate and Management Consulting Corporate includes Group head office companies, including the ultimate Logicalis holding company, Logicalis Group Limited and its associated costs, the consolidated results of Kumulus and Paratira Limited, and Group consolidation adjustments. Management Consulting comprises Mason Advisory Limited ISIN International Securities Identification Number JSE The Johannesburg Stock Exchange, a securities exchange operated by JSE Limited Logicalis or Logicalis Group A division of Datatec that supplies ICT infrastructure and solutions and managed services. Datatec has split its investment in Logicalis Group into two divisions: Logicalis International and Logicalis Latin America Logicalis International Comprises the Logicalis business in all markets outside Latin America Logicalis Latin America Comprises the Logicalis business in Latin America SAICA South African Institute of Chartered Accountants The Board The Board of directors of Datatec Limited, as set out on page 65 The Companies Act South African Companies Act 71 of 2008, as amended The Company, the Group or Datatec Datatec Limited, listed on the JSE in the “Computer Services” sector The Group The Datatec Group, Datatec Limited and its subsidiaries Westcon International or Westcon A division of Datatec that provides distribution of security, collaboration, networking and data centre products. Includes Datatec Financial Services, a provider of financing/leasing solutions 64 DATATEC GLOSSARY
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FINANCIAL AND TECHNICAL DEFINITIONS Financial definitions Adjusted EBITDA EBITDA excluding restructuring costs, share-based payments, one-off tax items impacting EBITDA and acquisition, integration and corporate actions costs EBITDA Earnings before interest, taxation, depreciation and amortisation EPS Earnings per share, the portion of a Company’s profit attributable (equally) to each outstanding ordinary share FY Financial year; for Datatec, ended/ending 28/29 February Gross invoiced income Reported revenue under IFRS 15 grossed up for all items recognised on an ‘agency’ basis within revenue, i.e. showing all revenue on a ‘principal’ basis H1 The first half of the financial year, from 1 March to 31 August H2 The second half of the financial year, from 1 September to 28/29 February IFRS International Financial Reporting Standards® The current period or H1 FY27 The six months ended 31 August 2026 The previous period or H1 FY26 The six months ended 31 August 2025 Underlying earnings Underlying earnings per share excludes: impairment of goodwill and intangible assets, profit or loss on sale of investments and assets, amortisation of acquired intangible assets, acquisition-related adjustments, fair value movements on acquisition-related financial instruments, fundamental restructuring costs, share-based payment charges, one-off tax items impacting EBITDA, acquisition, integration and corporate action costs, and the taxation effect and non- controlling interests on all of the aforementioned VWAP 30-day volume-weighted average price Technical definitions AI Artificial intelligence Data centre A centralised storage facility by an application service provider to retain database information Hardware The machines, wiring and other physical components or other electronic system ICT Information and communication technology, an umbrella term that includes any communication device or application, encompassing radio, television, mobile phones, computer and network hardware and software, and satellite systems Infrastructure Refers to an entity’s entire collection of hardware, software, networks and services required for the operation and management of the IT environment IT Information technology Networking The construction, design and use of a network Software The programs and other operating information used by computers and other electronic devices 65 DATATEC
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CORPORATE DETAILS Datatec Limited Incorporated in the Republic of South Africa Registration number: 1994/005004/06 Share code: JSE: DTC OTCQX: DTTLF ISIN: ZAE000017745 Registered office: 15th Floor, The Leonardo, 75 Maude Street, Sandown, Sandton, 2146 Datatec Limited Aprio Strategic Communications Jens Montanana Chief Executive Officer +27 (0) 11 233 1000 Ivan Dittrich Chief Financial Officer +27 (0) 11 233 1000 Sharne Prozesky Group Financial Controller +27 (0) 11 233 1000 Lydia du Plessis +27 (0) 82 491 7583 www.datatec.com @DatatecLtd https://www.linkedin.com/company/datatec-limited ir@datatec.com DIRECTORS M Makanjee (Chair)α, # JP Montanana (CEO), ≈ IP Dittrich (CFO), # CR Jonesα, ~ SJ Everaetα, S Mayetα, Ω LC Rappariniα, DS Sitaα # British ≈ American ~ Belgian Ω Brazilian α Non-executive 66 DATATEC