INDEPENDENT AUDITOR'S REPORT ON THE CONDENSED INFLATION ADJUSTED FINANCIAL STATEMENTS

TO THE SHAREHOLDERS OF MASHONALAND HOLDINGS LIMITED

Opinion

The condensed inflation adjusted consolidated financial statements of Mashonaland Holdings Limited and its subsidiaries ("the Group"), which comprise the condensed inflation adjusted consolidated statement of financial position as at 31 December 2022, and the condensed inflation adjusted consolidated statement of profit or loss and other comprehensive income, the condensed inflation adjusted consolidated statement of changes in equity, and the condensed inflation adjusted consolidated statement of cash flows for the then ended, and related notes, are derived from the audited inflation adjusted consolidated financial statements of Mashonaland Holdings Limited for the year ended 31 December 2022.

In our opinion, the accompanying condensed inflation adjusted consolidated financial statements are consistent, in all material respects, with the audited inflation adjusted consolidated financial statements of the Group, in accordance with the requirements of the ZSE listings requirements for condensed reports and the requirements of Companies and Other Business Entities Act (Chapter 24:31).

Summary inflation adjusted consolidated financial statements

The condensed inflation adjusted consolidated financial statements do not contain all the disclosures required by the International Financial Reporting Standards and the requirements of the Companies and Other Business Entities Act (Chapter 24:31) as applicable to annual financial statements. Reading the condensed inflation adjusted consolidated financial statements and the auditor's report thereon, therefore, is not a substitute for reading the audited inflation adjusted consolidated financial statements of the Group and the auditor's report thereon.

The audited inflation adjusted consolidated financial statements and our report thereon

We expressed an unmodified audit opinion on the audited inflation adjusted consolidated financial statements in our report dated 17 March 2023. That report also includes the communication of a key audit matter as reported in the auditor's report of the audited inflation adjusted financial statements.

Directors' Responsibility for the summary inflation adjusted consolidated financial statements

The directors are responsible for the preparation of the summary inflation adjusted consolidated financial statements in accordance with the requirements of the ZSE and the requirements of the Companies and Other Business Entities Act (Chapter 24:31) as applicable to condensed financial statements.

The listings requirements require condensed reports to be prepared in accordance with the framework concepts and the measurement and recognition requirements of International Financial Reporting Standards (IFRS).

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Auditor's Responsibility

Our responsibility is to express an opinion on whether the condensed inflation adjusted consolidated financial statements are consistent, in all material respects, with the inflation adjusted consolidated audited financial statements based on our procedures, which were conducted in accordance with International Standard on Auditing (ISA) 810 (Revised), Engagements to report on summary financial statements.

_____________________

DELOITTE & TOUCHE

CHARTERED ACCOUNTANTS (ZIMBABWE)

Per: Stelios Michael

(PAAB Practice Certificate 0443)

Partner

Registered Auditor

Harare, Zimbabwe

Date: 22 March 2023

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Mashonaland Holdings Ltd. published this content on 23 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 March 2023 07:32:04 UTC.