uMNGENI-uTHUKELA WATER - UUW-Strategic review of subsidiaries and realignment

UUW-Strategic review of subsidiaries and realignment

uMngeni-uThukela Water Board
Company code: BIUMWA
("uMngeni-uThukela Water" or the "Issuer" or the "Group")


STRATEGIC REVIEW OF SUBSIDIARIES AND ORGANISATIONAL REALIGNMENT


Shareholders and noteholders are advised that the Board of uMngeni-uThukela Water ("UUW") convened
a Special Board Meeting on 27 March 2026 to consider the outcome of a strategic review of its
subsidiaries, Msinsi Holdings SOC Ltd ("Msinsi Holdings") and Umngeni Water Services SOC Ltd
("UWS").


The strategic review was undertaken to align the organisation's structure with its long-term mandate,
improve operational efficiency, strengthen governance, and support UUW's integrated service delivery
model. Following consideration of the strategic, operational, and organisational implications, the Board
approved the following resolutions:


1.      Disestablishment of Msinsi Holdings
        The Board approved the disestablishment of Msinsi Holdings, resulting in the entity ceasing to
        exist as a separate legal entity. Key functions, including water resource management, related
        technical services, and eco-tourism activities, will be transferred into a new division to be
        established within UUW.


2.      Integration of Umngeni Water Services (UWS)
        The Board further resolved that, uMngeni Water Services ("UWS") will be incorporated into
        uMngeni-uThukela Water as a business unit, while retaining its legal status for strategic
        partnerships with water and sanitation institutions through a project-based special purpose
        vehicle ("SPV") model and joint venture purposes.




Further updates will be provided to noteholders as appropriate.

Issued on behalf of the Board of uMngeni uThukela Water
Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
13 April 2026

Enquiries:
Ms. Simangele Mbatha
Company Secretary
Tel: +27 31 719 7460 / 071 078 0984
Email: Simangele.Mbatha@uuw.co.za

Date: 13-04-2026 12:08:00
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