MESSAGE FROM THE CHAIRMAN OF THE BOARD

As we reflect on the performance of the ACSA Group over the financial year 2023/24, I am pleased to share with you the significant strides we have made, underscored by the achievement of targets set out in our Corporate Plan for FY2023/24. Throughout the year, the Board has diligently worked with the management team to ensure that our strategic goals align with the evolving needs of our stakeholders.

We have placed significant emphasis on enhancing our financial sustainability, improving our governance structures, and fostering a culture of compliance and accountability. These efforts are reflected in our robust financial performance, highlighted by a notable increase in revenue and profitability, as detailed in our financial performance section of this report. Throughout the reporting period, we maintained stability in key leadership positions, including the appointment of a new Chief Financial Officer.

The Company has managed to successfully navigate through a complex global environment marked by external factors at both macro and micro levels, while maintaining stability and growth. We are aware of the impact of global geopolitical dynamics and economic uncertainties on our business. The Board has been proactive in providing guidance to the Group to ensure adherence to good governance, and that a culture of financial prudence remains steadfast.

Looking ahead, the Board remains committed to guide the Group in driving innovation and growth, with strategic emphasis on nonaeronautical facets of the business, as they are essential for transforming ACSA into a cornerstone of the South African economy.

To this end, the Board would like to extend its appreciation for the continued assurance cooperation with the office of the Auditor General of South Africa (AG), which ensures that the financial and non-financial information of the Group is prepared in accordance with international standards. This includes ensuring that our processes comply with the relevant laws of South Africa. The Board is committed to continue discharging its fiduciary responsibilities by addressing and ensuring that all pertinent matters highlighted by the AG are resolved.

Our CEO continues to play a significant role in international civil aviation policy advocacy related to airports as a member of the ACI Africa and World Board. This includes chairing the BRICS Aviation Working Group. We are proud of this leadership and the representation of our company brand on global platforms.

We are optimistic about the future and our ability to navigate the challenges ahead and ensuring that we continue to guide the Group in its quest to create sustainable value for shareholders in line with Vision 2030. We appreciate the continued support and cooperation of all our stakeholders as we work towards achieving our strategic goals and enhancing our contribution to the economy of South Africa and the region.

Dr Sandile Nogxina

Chairman of the Board