ECIC IR 2023

DocuSign Envelope ID: 93BD3FCD-E40B-43A5-B01E-BCC51E9FC856 DocuSign Envelope ID: 3FE05DA5-811B-4503-B7F0-EEF6876B39D1 DocuSign Envelope ID: 8E7EF3E8-7E0C-40E0-B303-5990E26190E2 DocuSign Envelope ID: 93BD3FCD-E40B-43A5-B01E-BCC51E9FC856 DocuSign Envelope ID: 3FE05DA5-811B-4503-B7F0-EEF6876B39D1 DocuSign Envelope ID: 8E7EF3E8-7E0C-40E0-B303-5990E26190E2

ANNUAL Financial Statements for the year ended 31 March 2023 ANNUAL FiNANciAL StAtemeNtS for the year ended 31 March 2023 ANNUAL FiNANciAL StAtemeNtS for the year ended 31 March 2023

E B N

L I E

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D L I 2

S D

D

H I

B H

N H 0

A S

I S 0

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1 N

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2

2

0

0

A

A

0

0

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S

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1

1

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E

E

E X P O R T C R E

E X P O R T C R E

E X P O R T C R E

L T D

L T D

L T D

O C

O C

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A S

A S

A S

C

C

C

R I

R I

R I

D I

D I

D I

F

F

F

T

T

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A

A

A

I

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I

N

N

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H

H

H

S

S

S

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U E

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C U O

U

U

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R

R

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O O

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A C

A

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N O

N

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F

F

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C

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O A

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N

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P T

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Independent Auditors’ Report Independent Auditors’ Report

Other information 22. The accounting authority is responsible for the other information. The other information comprises the information included in the annual report, which includes the directors’ report, the audit committee’s report and the company secretary’s certificate as required by the Companies Act. The other information does not include the financial statements, the auditor’s report and those selected objective presented in the performance report that have been specifically reported on in the auditor’s report. 23. Our opinion on the financial statements and our findings on the reported performance information and the report on compliance with legislation do not cover the other information and we do not express an audit opinion or any form of assurance conclusion on it. 24. In connection with our audit, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements and the selected objectives presented in the annual performance report, or our knowledge obtained in the audit, or otherwise appears to be materially misstated. 25. If based on the work we have performed, we conclude that there is a material misstatement in this other information, we are required to report that fact. We have nothing to report in this regard. Internal control deficiencies 26. We considered internal control relevant to our audit of the financial statements, annual performance report and compliance with applicable legislation; however, our objective was not to express any form of assurance on it. We did not identify any significant deficiencies in internal control. Other reports 27. We draw attention to the following engagements conducted by various parties that had, or could have, an impact on the matters reported in the public entity’s financial statements, reported performance information, compliance with applicable legislation and other related matters. These reports did not form part of our opinion on the financial statements or our findings on the reported performance information or compliance with legislation. Other information 22. The accounting authority is responsible for the other information. The other information comprises the information included in the annual report, which includes the directors’ report, the audit committee’s report and the company secretary’s certificate as required by the Companies Act. The other information does not include the financial statements, the auditor’s report and those selected objective presented in the performance report that have been specifically reported on in the auditor’s report. 23. Our opinion on the financial statements and our findings on the reported performance information and the report on compliance with legislation do not cover the other information and we do not express an audit opinion or any form of assurance conclusion on it. 24. In connection with our audit, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements and the selected objectives presented in the annual performance report, or our knowledge obtained in the audit, or otherwise appears to be materially misstated. 25. If based on the work we have performed, we conclude that there is a material misstatement in this other information, we are required to report that fact. We have nothing to report in this regard. Internal control deficiencies 26. We considered internal control relevant to our audit of the financial statements, annual performance report and compliance with applicable legislation; however, our objective was not to express any form of assurance on it. We did not identify any significant deficiencies in internal control. Other reports 27. We draw attention to the following engagements conducted by various parties that had, or could have, an impact on the matters reported in the public entity’s financial statements, reported performance information, compliance with applicable legislation and other related matters. These reports did not form part of our opinion on the financial statements or our findings on the reported performance information or compliance with legislation. Other information 22. The accounting authority is responsible for the other information. The other information comprises the information included in the annual report, which includes the directors’ report, the audit committee’s report and the company secretary’s certificate as required by the Companies Act. The other information does not include the financial statements, the auditor’s report and those selected objective presented in the performance report that have been specifically reported on in the auditor’s report. 23. Our opinion on the financial statements and our findings on the reported performance information and the report on compliance with legislation do not cover the other information and we do not express an audit opinion or any form of assurance conclusion on it. 24. In connection with our audit, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements and the selected objectives presented in the annual performance report, or our knowledge obtained in the audit, or otherwise appears to be materially misstated. 25. If based on the work we have performed, we conclude that there is a material misstatement in this other information, we are required to report that fact. We have nothing to report in this regard. Internal control deficiencies 26. We considered internal control relevant to our audit of the financial statements, annual performance report and compliance with applicable legislation; however, our objective was not to express any form of assurance on it. We did not identify any significant deficiencies in internal control. Other reports 27. We draw attention to the following engagements conducted by various parties that had, or could have, an impact on the matters reported in the public entity’s financial statements, reported performance information, compliance with applicable legislation and other related matters. These reports did not form part of our opinion on the financial statements or our findings on the reported performance information or compliance with legislation.

28. We were engaged to perform the following audit related services: Audit and review of the Quantitative Reporting Template in compliance with the Insurance Act, 2017 (the Act) for the year ended 31 March 2023. Auditor tenure 29. In terms of the IRBA rule published in Government Gazette Number 39475 dated 4 December 2015, we report that AM PhakaMalele Inc. and SizweNtsalubaGobodo Grant Thornton Inc. have been the auditors of Export Credit Insurance Corporation of South Africa SOC Ltd for 1 year and 5 years, respectively. 28. We were engaged to perform the following audit‑ related services: Audit and review of the Quantitative Reporting Template in compliance with the Insurance Act, 2017 (the Act) for the year ended 31 March 2023. Auditor tenure 29. In terms of the IRBA rule published in Government Gazette Number 39475 dated 4 December 2015, we report that AM PhakaMalele Inc. and SizweNtsalubaGobodo Grant Thornton Inc. have been the auditors of Export Credit Insurance Corporation of South Africa SOC Ltd for 1 year , and 5 years respectively. 28. We were engaged to perform the following audit‑ related services: Audit and review of the Quantitative Reporting Template in compliance with the Insurance Act, 2017 (the Act) for the year ended 31 March 2023. Auditor tenure 29. In terms of the IRBA rule published in Government Gazette Number 39475 dated 4 December 2015, we report that AM PhakaMalele Inc. and SizweNtsalubaGobodo Grant Thornton Inc. have been the auditors of Export Credit Insurance Corporation of South Africa SOC Ltd for 1 year , and 5 years respectively.

Jabu Malele

Jabu Malele

Nhlanhla M Sigasa Chartered Accountant (SA) Registered Auditor Nhlanhla Mfundo Sigasa Nhlanhla Mfundo Sigasa Chartered Accountant (SA) Registered Auditor

Jabu A Malele

Chartered Accountant (SA) Registered Auditor

Director Chartered Accountant (SA) Registered Auditor Director

Chartered Accountant (SA) Registered Auditor

Director

Director

Director

02 August 2023

02 August 2023

AM PhakaMalele Inc.

AM PhakaMalele Inc.

SizweNtsalubaGobodo Grant Thornton Inc.

SizweNtsalubaGobodo Grant Thornton Inc.

AM PhakaMalele Inc. SizweNtsalubaGobodo Grant Thornton Inc.

AM PhakaMalele Inc.

AM PhakaMalele Inc.

SizweNtsalubaGobodo Grant Thornton Inc.

SizweNtsalubaGobodo Grant Thornton Inc.

Head Office

Head Office

Head Office

Head Office

AM PhakaMalele Inc. SizweNtsalubaGobodo Grant Thornton Inc. Head Office Head Office 9 Stirrup Lane, Woodmead Office Park, 2128 20 Morris Street East, Woodmead, 2191 9 Stirrup Lane, Woodmead Office Park, 2128 20 Morris Street East, Woodmead, 2191 Annexure to the auditor’s report The annexure includes the following: c the auditor’s responsibility for the audit c the selected legislative requirements for compliance testing. 9 Stirrup Lane, Woodmead Office Park, 2128 20 Morris Street East, Woodmead, 2191 Annexure to the auditor’s report The annexure includes the following: c the auditor’s responsibility for the audit c the selected legislative requirements for compliance testing. Annexure to the auditor’s report The annexure includes the following: c the auditor’s responsibility for the audit c the selected legislative requirements for compliance testing.

YOUR EXPORT RISK PARTNER YOUR EXPORT RISK PARTNER YOUR EXPORT RISK PARTNER

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