OUTsurance GROUP LIMITED - Issue of new ordinary OGL shares in exchange for ordinary shares in Outsurance Holdings Limited

Issue of new ordinary OGL shares in exchange for ordinary shares in Outsurance Holdings Limited

OUTsurance Group Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2010/005770/06)
ISIN: ZAE000314084
Share code: OUT
("OGL" or "the company")

ISSUE OF NEW ORDINARY OGL SHARES IN EXCHANGE FOR ORDINARY SHARES
IN OUTSURANCE HOLDINGS LIMITED

At the annual general meeting of the company held on 23 November
2023, shareholders approved special resolution number 4 which
allows the company to issue new shares in connection with the
acquisition of further shares in OUTsurance Holdings Limited (OHL)
from its minority shareholders. Since 1 July 2022, the movement in
the OHL share price was referenced to the movement in the 15-day
volume weighted average price (VWAP) of the OGL shares.

Today, employees transferred 12 720 025 ordinary shares in OHL
(valued at R339 369 411 based on the 15-day VWAP of the OGL shares
on 15 November 2024) in exchange for 5 552 510 newly issued OGL
shares. As a result of this transaction, OGL's shareholding in OHL
has increased from 92.30% to 92.63%, with the remaining 7.37% of
the issued shares of OHL being owned by directors and management.
OGL's issued number of ordinary shares has increased from
1 540 849 518 to 1 546 402 028.

Centurion
22 November 2024

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 22-11-2024 04:17:00
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