KAP LIMITED - Exercise and Related Settlement of Options in Terms of the KAP Performance Share Rights Scheme

Exercise and Related Settlement of Options in Terms of the KAP Performance Share Rights Scheme

KAP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1978/000181/06)
Share code: KAP
ISIN: ZAE000171963
Company Alpha Code: KAP
LEI code: 3789001F51BC0045FD42
('KAP' or 'the Company')


EXERCISE AND RELATED SETTLEMENT OF OPTIONS IN TERMS OF THE KAP PERFORMANCE SHARE
RIGHTS SCHEME

In compliance with the JSE Limited Listings Requirements, the following information regarding the exercise of
options by certain executive directors of KAP and of its major subsidiaries and the related settlement thereof, in
terms of the KAP Performance Share Rights Scheme, is disclosed.

Upon the exercise of the options referred to below, the Company and the beneficiaries elected to settle same on
an after-tax net-equity basis, through the issue of ordinary shares as detailed below:

                                                       FH Olivier                                           (1)
 NAME OF DIRECTOR
                                                       SP Lunga                                             (2)
                                                       G Victor                                             (3)
                                                       W Kilian                                             (4)
                                                       JN van Niekerk                                       (5)
                                                       WC Els                                               (6)

 COMPANY OF WHICH A DIRECTOR                           KAP Ltd                                             (1-2)
                                                       PG Bison (Pty) Ltd*                                 (3-4)
                                                       Safripol (Pty) Ltd*                                 (5-6)
                                                       * Major subsidiary of the Company

 STATUS: EXECUTIVE/NON-EXECUTIVE                       Executive                                           (1-6)

 TYPE AND CLASS OF SECURITIES                          Ordinary shares                                     (1-6)

 NATURE OF TRANSACTION                                 Exercise of options by the director and related
                                                       after-tax net-equity settlement by way of the
                                                       issue of ordinary shares to the director
                                                       (off-market transaction)                            (1-6)

 VESTING DATE OF OPTIONS EXERCISED                     1 December 2025                                     (1-6)

 DATE OF EXERCISE OF OPTIONS                           1 December 2025                                     (1-6)

 OPTION STRIKE PRICE                                   R0.20                                               (1-6)


 NUMBER OF OPTIONS EXERCISED                           635 006                                            (1)
                                                       342 336                                            (2)
                                                       342 336                                            (3)
                                                       117 583                                            (4)
                                                       342 336                                            (5)
                                                       116 733                                            (6)

 NUMBER OF ORDINARY SHARES ISSUED                      349 253                                            (1)
                                                       188 284                                            (2)
                                                       188 284                                            (3)
                                                       64 670                                             (4)
                                                       188 284                                            (5)
                                                       64 203                                             (6)

 NATURE AND EXTENT OF INTEREST IN THE                 Direct, beneficial                                  (1-6)
 TRANSACTION

Clearance for the above was obtained in terms of the JSE Limited Listings Requirements.

Stellenbosch
1 December 2025

Equity and Debt Sponsor
PSG Capital

Date: 01-12-2025 10:30:00
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