Astoria Investments : Audited Annual Financial Results for the Year ended 31 December 2020

ASTORIA INVESTMENTS LTD (Incorporated in the Republic of Mauritius) (Registration number 129785 C1/GBL) SEM share code: ATIL.N0000

JSE share code: ARA

ISIN: MU0499N00015

("Astoria" or "the Company")

SHORT FORM ANNOUNCEMENT - AUDITED ANNUAL FINANCIAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2020

Shareholders are advised that the Company's Integrated Annual Report containing, inter alia, the audited annual financial statements for the year ended 31 December 2020, is available on the Company's website via the following link: http://www.astoria.mu/wp-content/uploads/2021/03/Astoria-Annual-Report-2020.pdf.

Astoria is a global investment company which aims to provide a high real rate of return on its net asset value ("NAV") per share, measured in US Dollars ("USD") Astoria has primary listings on the Stock Exchange of Mauritius ("SEM") and the Alternative Exchange of the Johannesburg Stock Exchange ("JSE").

SALIENT POINTS

• • Profit after tax: USD 3.6 million (2019: (USD 2.7 million))
  • Basic earnings per share: 6.39 USD cents (2019: (4.75) USD cents)
  • Headline earnings per share: 6.39 USD cents (2019: (4.75) USD cents)
  • Net asset value per share: USD 0.47 (2019: USD0.17*)
• NAV per share at 31 December 2019 after a capital repayment of USD 0.88394 per share in April 2019.

Save for the capital payment and special dividend payment which amounted to $0.14 per share declared on 4 March 2020, no further dividends were distributed as at 31 December 2020 (2019: nil).

KEY AUDIT MATTERS

There has been one key audit matter identified by the Company's external auditors, EY, which relates to the fair value estimation of level 3 financial assets carried at fair value. Further details can be found in the full auditor's report and the annual financial statements contained in the Integrated Annual Report for the year ended 31 December 2020.

EY has issued an unqualified audit opinion on the audited financial statements for the year ended 31 December 2020. The audited annual financial statements and the auditor's report are available for inspection at the Company's registered office. The auditor's report does not necessarily report on all the information contained in this announcement. Shareholders are therefore advised that in order to obtain a full understanding of the nature of the auditor's engagement they should obtain a copy of the auditor's report together with the accompanying financial information from the Company's registered office.

NOTICE OF ANNUAL GENERAL MEETING

Notice is hereby given that the Annual General Meeting of Astoria will be held at Block 7, Uniciti Office Park, Black River Road, Bambous, Mauritius at 12:00 Mauritian Time, 10:00 South African Time on Wednesday, 19 May 2021 for the purpose of:

1. presenting the audited annual financial statements of the Company as well as the statement of directors' responsibilities, corporate governance report and independent auditors' report for the year ended 31 December 2020; and
2. considering and if deemed fit adopting with or without modification, the shareholder resolutions as set out in the Integrated Annual Report.

Salient dates and times:

Events			2021
Record date for shareholders to be recorded in the register in order to receive the notice of	Friday, 19	March
AGM
Notice of AGM distributed to shareholders on	Wednesday, 31	March
Last day to trade in order to be recorded in the register to vote at the AGM	Tuesday, 4 May
Record date to be recorded in the register in order to be entitled to vote at the AGM	Friday, 7	May
Last date to lodge forms of proxy for the AGM by 12:00 Mauritian Time (10:00 SA time)*	Monday, 17	May
Annual General Meeting held at 12:00 Mauritian Time (10:00 SA time)	Wednesday, 19	May
Results of AGM to be published on SENS and on the SEM website on or about	Wednesday, 19	May

* Forms of proxy may be handed to the Chairman before the commencement of the meeting.

SHORT-FORM ANNOUNCEMENT

This short-form announcement is the responsibility of the board of directors of Astoria ("Board") and is only a summary of the information in the full integrated annual report and accordingly does not contain full or complete details. The full integrated annual report containing further details was published on 31 March 2021, and can be found on the Company's website http://www.astoria.mu/wp-content/uploads/2021/03/Astoria-Annual-Report-2020.pdfas well as through the following JSE link:

https://senspdf.jse.co.za/documents/2021/jse/isse/ARAE/2020AFS.pdf

Any investment decisions by shareholders and/or investors should be based on the full announcement released on SENS and published on the Company's website.

Copies of the Integrated Annual Report for the year ended 31 December 2020 are available to the public, free of charge, at the registered office of the Company, Block 7 Uniciti Office Park, Bambous, Republic of Mauritius.

By order of the Board

31 March 2021

JSE Designated Advisor

Questco Corporate Advisory Proprietary Limited

Company Secretary

Clermont Consultants (MU) Limited