OUTsurance GROUP LIMITED - OGL subsidiaries entering into total return swaps

OGL subsidiaries entering into total return swaps

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

OGL SUBSIDIARIES ENTERING INTO TOTAL RETURN SWAPS

OUTsurance Insurance Company Limited (OUTsurance) and
OUTsurance Life Insurance Company Limited (OUT Life) entered
into Financial Market Act Agreements with the intent to
conclude over the counter total return swaps (TRS) linked to
the share price of OGL on 29 November 2024 and 2 December 2024
respectively. OUTsurance and OUT Life are wholly-owned
subsidiaries of OUTsurance Holdings Limited, a 92.63%-held
subsidiary of OGL. The terms of the TRSs were concluded today
as follows:

Company                       :   OUTsurance
Date                          :   5 December 2024
Nature of transaction         :   Off-market acquisition of TRS
TRS linked to the share
price of                      :   OGL ordinary shares
Number of OGL shares
referenced in the TRS         :   6 943 684
OGL share price referenced
in the TRS                    :   6 535.44 cents
Total value of OGL shares
referenced in the TRS         :   R453 800 039
Nature of interest            :   Indirect exposure to OGL share
                                  price via TRS
Clearance obtained            :   Yes


Company                       :   OUT Life
Date                          :   5 December 2024
Nature of transaction         :   Off-market acquisition of TRS
TRS linked to the share
price of                      :   OGL ordinary shares
Number of OGL shares
referenced in the TRS         :   706 915
OGL share price referenced
in the TRS                    :   6 535.44 cents
Total value of OGL shares
referenced in the TRS         :   R46 200 000
Nature of interest            :   Indirect exposure to OGL share
                                  price via TRS
Clearance obtained            :   Yes

These TRSs were entered into as a partial hedge against the
share-based payment liability accruing on the last tranche of
share appreciation rights which is expected to vest in
September 2025. Effective from September 2023, the OGL group
changed to a conditional share plan as approved by
shareholders, the first tranche of which is expected to vest
in September 2026.


Centurion
5 December 2024

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

Date: 05-12-2024 04:31:00
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