SBS TRANSIT LTD ANNUAL

Financial Statements

A GROUP INCOME STATEMENT Group 2nd Half 2nd Half Incr/ Full Year Full Year Incr/ Note 2021 (N1) 2020 (N1) (Decr) 2021 2020 (Decr) $'000 $'000 % $'000 $'000 % Revenue 6 70,024 6 27,722 6 .7 1 ,310,842 1 ,230,947 6 .5 Staff costs 3 11,038 2 87,449 8 .2 6 25,554 5 83,343 7 .2 Repairs and maintenance costs 1 08,928 1 12,886 ( 3.5) 2 04,404 2 14,620 ( 4.8) Fuel and electricity costs 8 1,175 4 2,468 9 1.1 1 48,703 9 0,077 6 5.1 Premises costs 2 3,593 2 6,603 ( 11.3) 4 7,063 4 7,173 ( 0.2) Depreciation expense 5 3,676 5 7,016 ( 5.9) 1 05,340 1 09,046 ( 3.4) Other operating costs 7 6,239 5 3,529 4 2.4 1 26,224 1 06,705 1 8.3 Total operating costs 6 54,649 5 79,951 1 2.9 1 ,257,288 1 ,150,964 9 .2 Operating profit 5 1 5,375 4 7,771 ( 67.8) 5 3,554 7 9,983 ( 33.0) Net income from investments 1 84 1 41 3 0.5 2 91 2 72 7 .0 Finance costs ( 581) ( 1,422) ( 59.1) ( 1,339) ( 3,247) ( 58.8) Profit before taxation 1 4,978 4 6,490 ( 67.8) 5 2,506 7 7,008 ( 31.8) Tax credit (expense) 6 1 81 ( 115) NM ( 872) 1 ,949 NM Profit attributable to shareholders 1 5,159 4 6,375 ( 67.3) 5 1,634 7 8,957 ( 34.6) Operating Loss before COVID-19 Government reliefs (6,348) (441) NM (2,769) (29,806) (90.7) COVID-19 Government reliefs 21,723 48,212 (54.9) 56,323 109,789 (48.7) Operating Profit after COVID-19 Government reliefs 15,375 47,771 (67.8) 53,554 79,983 (33.0) Please refer to paragraph G2 for a detailed explanation of the Group's financial performance. N1 – Unaudited NM – Not meaningful Page 1 of 27 B GROUP COMPREHENSIVE INCOME STATEMENT Group 2nd Half 2nd Half Full Year Full Year 2021 (N1) 2020 (N1) 2021 2020 $'000 $'000 $'000 $'000 Profit attributable to shareholders 1 5,159 4 6,375 5 1,634 7 8,957 Items that may be reclassified subsequently to profit or loss Fair value adjustment on cash flow hedges 4 84 8 8 4 84 ( 278) Total comprehensive income attributable to shareholders 1 5,643 4 6,463 5 2,118 7 8,679 N1 – Unaudited Earnings per ordinary share - Basic and Diluted Group Full Year Full Year 2021 2020 Based on weighted average number of ordinary shares in issue (cents) 16.56 25.32 Page 2 of 27 C STATEMENTS OF FINANCIAL POSITION Group Company 31 Dec 31 Dec 31 Dec 31 Dec Note 2021 2020 2021 2020 $'000 $'000 $'000 $'000 ASSETS Current assets Short-term deposits and bank balances 2 04,034 8 5,560 2 01,974 8 4,376 Trade and other receivables 2 53,372 2 90,023 4 90,545 5 75,570 Inventor