Disclosure of Acquisition of Securities

ADCORP HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1974/001804/06
Share code: ADR & ISIN: ZAE000000139
(“Adcorp” or “the Group“)

DISCLOSURE OF ACQUISITION OF SECURITIES

In accordance with section 122 (3)(b) of the Companies Act No. 71 of 2008, as amended, and section 3.83(b) of the Listings Requirements of the JSE Limited, shareholders are hereby advised that Adcorp has received formal notification in the prescribed form of the following movement in securities of the Group:

Steyn Capital Management Proprietary Limited (“Steyn Capital”) has, in aggregate, acquired an interest in the securities of Adcorp, such that Steyn Capital now holds 6.72% of the securities of the Group.

Johannesburg

11 May 2021

Sponsor

PSG Capital