SETTLEMENT OF SHARES IN TERMS OF THE ADCORP SHARE PLAN
ADCORP HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1974/001804/06
Share code: ADR
ISIN: ZAE000000139
(“Adcorp” or “the Company“)
SETTLEMENT OF SHARES IN TERMS OF THE ADCORP SHARE PLAN
In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information regarding the settlement of performance shares (“Awards”) in terms of the Adcorp Share Plan is disclosed:
| NAME OF PARTICIPANTS | BRL Toerien (1)
MK Masemola (Resigned as director of Adcorp Workforce Solutions (Pty) Limited and Adcorp Management Services (Pty) Limited with effect from 1 February 2026.) (2) N Mabidi (3) |
| COMPANY OF WHICH A PRESCRIBED OFFICER | Adcorp (1) |
| COMPANY OF WHICH A DIRECTOR | Adcorp Workforce Solutions (Pty) Limited (2)
Adcorp Management Services (Pty) Limited (2-3) |
| STATUS | Prescribed Officer of Adcorp and Managing Director: Contingent Staffing South Africa (1)
Executive director of Adcorp Workforce Solutions (Pty) Limited and Adcorp Management Services (Pty) Limited (2) Executive director of Adcorp Management Services (Pty) Limited (3) |
| TYPE AND CLASS OF SECURITIES | Ordinary shares (1-3) |
| NATURE OF TRANSACTION | Settlement of ordinary shares following the vesting of Awards in terms of the Adcorp Share Plan (net of tax) (off-market transaction) (1-3) |
| AWARD DATE | 14 December 2022 (1-3) |
| VESTING DATE | 13 December 2025 (1-3) |
| SETTLEMENT DATE | 29 January 2026 (1-3) |
| NUMBER OF SHARES SETTLED | 26 056 (1)
16 788 (2) 29 817 (3) |
| DEEMED PRICE PER SETTLED SHARE (CENTS) | 630 (1-3) |
| DEEMED RAND VALUE AT SETTLEMENT | R164,152.80 (1)
R105,764.40 (2) R187,847.10 (3) |
| NATURE AND EXTENT OF INTEREST IN THE TRANSACTION | Direct, beneficial (1-3) |
Clearance for the above was obtained in terms of paragraph 3.66 of the JSE Limited Listings Requirements.
Johannesburg
2 February 2026
Sponsor
Valeo Capital (Pty) Ltd