INTEGRATED ANNUAL REPORT FOR MULTICHOICE SOUTH AFRICA HOLDINGS (PTY) LTD AND PHUTHUMA NATHI INVESTMENTS (RF) LTD

FINANCIAL REVIEW SUMMARISED CONSOLIDATED STATEMENTS OF CASH FLOWS for the year ended 31 March Group Company 2019 R’000 2018 R’000 2019 R’000 2018 R’000 Cash flow from operating activities 8 557 545 7 460 827 – – Cash flow utilised in investing activities (645 029) (390 481) – – Cash flow utilised in financing activities (8 430 568) (7 325 201) – – Changes in cash and cash equivalents for the year (518 052) (254 855) – – Cash and cash equivalents at the beginning of the period 2 272 620 2 600 694 – – Foreign exchange translation adjustments 325 911 (73 966) – – Reclassification of cash to held for sale – 747 – – Cash and cash equivalents at the end of the year 2 080 479 2 272 620 – – The principle non-cash transactions are the acquisition of equipment using finance leases, equity-settled share-based payment transactions and impairment of assets. Basis of preparation These summarised consolidated financial statements for the year ended 31 March 2019 have been extracted from the full set of audited consolidated annual financial statements for the year ended 31 March 2019, which have been prepared in accordance with International Financial Reporting Standards (IFRS) and Financial Pronouncements as issued by the Financial Reporting Standards Council and to also, as a minimum, contain the information required by IAS 34 Interim Financial Reporting and in the manner required by the Companies Act of South Africa. The accounting policies applied in the preparation of the consolidated financial statements from which the summary consolidated financial statements were derived, are in terms of IFRS and are consistent with those accounting policies applied in the preparation of the previous consolidated annual financial statements. The group has adopted all new and amended accounting pronouncements as issued by the International Accounting Standards Board (IASB), which were effective for financial years commencing on 1 April 2018. 100  MultiChoice South Africa Holdings Proprietary Limited integrated annual report 2019