SOUTHERN SUN LIMITED - General Repurchase of Shares

General Repurchase of Shares

SOUTHERN SUN LIMITED
Incorporated in the Republic of South Africa
(Registration number 2002/006356/06)
Share Code: SSU ISIN: ZAE000272522
("Southern Sun" or "the Company")

GENERAL REPURCHASE OF SHARES

In accordance with the general authority granted by shareholders at the Company's Annual General Meeting held
on Tuesday, 15 September 2025 ("General Authority"), Southern Sun has cumulatively repurchased 42 043 207
ordinary shares ("Shares"), representing 3% of the Company's issued share capital ("Repurchase") as at the date
the General Authority was granted, being 1 351 312 622 Shares. Following the Repurchase, the extent of the
General Authority remaining is 228 219 317 Shares, representing 17% of the total issued share capital of the
Company at the time the General Authority was granted.

Details of the Repurchase are as follows:

Period of Repurchase                  Number of Shares                                Average          Aggregate
                                           Repurchased                     price per Share (R)         value (R)
11 March 2026 to 13 May 2026                32 043 207        R9.92 (high: R10.00; low: R9.59)    317 782 703.92
8 July 2026 to 17 July 2026                 10 000 000        R9.99 (high: R10.00; low: R9.73)     99 930 205.32

The Board has considered the effects of the Repurchase and confirms that it has complied with the solvency and
liquidity test as contemplated in section 4 of the Companies Act 2008, and that since the test was performed, there
have been no material changes in the financial position of the Company.

The Repurchase was made within the pre-determined parameters for the Repurchase to not exceed 20% of the
Company's issued share capital as at the commencement date of the financial year and for the repurchase price to
not be greater than 10% above the weighted average of the market value of the Shares for the five business days
immediately preceding the date of the Repurchase.

The Repurchase was funded from the Company's available cash resources. Cash balances decreased by
R419 963 012.03 as a result of the Repurchase (including transaction costs).

The Company now holds 13 974 107 treasury Shares, which represents 1.06% of the Company's issued share capital
of 1 315 964 155 Shares, following the Repurchase and the cancellation of 28 069 100 Shares on 23 April 2026. The
process to delist and cancel the 13 974 107 repurchased Shares will commence imminently and is expected to be
completed on or about 4 August 2026.

The Repurchase was effected prior to, during and after a closed period, in accordance with a predetermined
mandate.

The Repurchase was effected through the order book operated by the JSE and done without any prior
understanding or arrangement between the Company and the counterparties. Accordingly, the Company has
complied with paragraph 7.90(g) of the JSE Listings Requirements.

Sandton
21 July 2026

Sponsor
Investec Bank Limited

Date: 21-07-2026 08:51:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.