Pro forma financial information accountants report

To the Directors of Motus Holdings Limited

1 Van Buuren Road
Corner Van Dort and Geldenhuys Streets
Bedfordview
2007

Dear Sirs and Mesdames

Report on the Assurance Engagement on the Compilation of Pro Forma Financial Information Included in the “Motus Holdings Limited – Preliminary Summarised Audited Consolidated Results for the year ended 30 June 2022”

We have completed our assurance engagement to report on the compilation of pro forma financial information of Motus Holdings Limited (“the company” or “the group”) by the directors. The pro forma financial information, as set out in the “Motus Holdings Limited – Preliminary Summarised Audited Consolidated Results for the year ended 30 June 2022” to be dated on or about 30 August 2022, consists of the pro forma information included in the following tables:

  • Pro Forma Import and Distribution Segment Results;
  • Pro Forma Retail and Rental Segment Results;
  • Pro Forma Financial Services Segment Results; and
  • Pro Forma Aftermarket Parts Segment Results.

The pro forma financial information has been compiled on the basis of the applicable criteria specified in the JSE Limited (JSE) Listings Requirements. As part of this process, information about the group's financial performance has been extracted by the directors from the group's financial statements for the year ended 30 June 2022, on which an auditor's report was issued on 30 August 2022 and contained an unmodified opinion.

The directors of Motus Holdings Limited have disclosed financial information that is considered to be pro Forma information per the JSE Listings Requirements, which is stipulated below. The directors of the company have prepared the following pro forma financial information for inclusion in the Preliminary Summarised Audited Consolidated Results:

  • The Segmental performance for Half Year 1 (period 1 July 2021 to 31 December 2021), and for Half Year 2 (period 1 January 2022 to 30 June 2022) in relation to the same period in the prior year.

The purpose of pro forma financial information, included in the specified tables in the Preliminary report under the segment performance section, is solely to provide a more meaningful assessment of the group's performance for the year.

Directors' Responsibility for the Pro Forma Financial Information

The directors are responsible for compiling the pro forma financial information on the basis of the applicable criteria specified in the JSE Listings Requirements and described in the Preliminary Summarised Audited Consolidated Results.

Our Independence and Quality Control

We have complied with the independence and other ethical requirements of the Code of Professional Conduct for Registered Auditors issued by the Independent Regulatory Board for Auditors (IRBA Code), which is founded on fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behaviour. The IRBA Code is consistent with the corresponding sections of the International Ethics Standards Board for Accountants' International Code of Ethics for Professional Accountants (including International Independence Standards).

The firm applies the International Standard on Quality Control 1, Quality Control for Firms that Perform Audits and Reviews of Financial Statements and Other Assurance and Related Services Engagements and accordingly maintains a comprehensive system of quality control, including documented policies and procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.

Reporting Accountants' Responsibility

Our responsibility is to express an opinion about whether the pro forma financial information has been compiled, in all material respects, by the directors on the basis specified in the JSE Listings Requirements based on our procedures performed.

We conducted our engagement in accordance with the International Standard on Assurance Engagements (ISAE) 3420, Assurance Engagements to Report on the Compilation of Pro Forma Financial Information Included in a Prospectus which is applicable to an engagement of this nature. This standard requires that we comply with ethical requirements and plan and perform our procedures to obtain reasonable assurance about whether the pro forma financial information has been compiled, in all material respects, on the basis specified in the JSE Listings Requirements.

For purposes of this engagement, we are not responsible for updating or reissuing any reports or opinions on any historical financial information used in compiling the pro forma financial information, nor have we, in the course of this engagement, performed an audit or review of the financial information used in compiling the pro forma financial information.

The purpose of pro forma financial information included in the Preliminary Summarised Audited Consolidated Results is solely to illustrate the impact of the group's performance for Half Year 1 (period 1 July 2021 to 31 December 2021), and for Half Year 2 (period 1 January 2022 to 30 June 2022).

We do not provide any assurance that the actual results for the period of Half Year 2 would have been as presented.

A reasonable assurance engagement to report on whether the pro forma financial information has been compiled, in all material respects, on the basis of the applicable criteria involves performing procedures to assess whether the applicable criteria used in the compilation of the pro forma financial information provides a reasonable basis for presenting the significant effects directly attributable to the corporate action or event, and to obtain sufficient appropriate evidence about whether:

  • The related pro forma adjustments give appropriate effect to those criteria; and
  • The pro forma financial information refl ects the proper application of those adjustments to the unadjusted financial information.

Our procedures selected depend on our judgment, having regard to our understanding of the nature of the company, the corporate action or event in respect of which the pro forma financial information has been compiled, and other relevant engagement circumstances.

Our engagement also involves evaluating the overall presentation of the pro forma financial information.

We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Opinion

In our opinion, the pro forma financial information has been compiled, in all material respects, on the basis of the applicable criteria specified by the JSE Listings Requirements and described in the Preliminary Summarised Audited Consolidated Results.

Deloitte & Touche
Registered Auditor
Per: Shelly Nelson
Partner

30 August 2022

5 Magwa Crescent
Waterfall City
Waterfall
Johannesburg