ARGENT INDUSTRIAL LIMITED - General repurchase of ordinary shares

General repurchase of ordinary shares

ARGENT INDUSTRIAL LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1993/002054/06)
Share code: ART
ISIN: ZAE000019188
("Argent" or "the Company" or "the Group")

GENERAL REPURCHASE OF ORDINARY SHARES

In the notice of the Argent annual general meeting held on 18 August 2025 ("the AGM"),
shareholders approved the repurchase of ordinary shares by way of a special resolution.
Shareholders were further advised that any repurchases under the general authority would be
at market value in accordance with the provisions set out under the relevant special resolution.
The general authority granted by shareholders at the AGM authorised the board of Argent to
repurchase up to 20% of the issued ordinary share capital of Argent.

Shareholders are hereby advised that Argent has repurchased 341 855 ordinary shares,
representing 0.63% of the issued ordinary share capital as at the date on which the authority to
repurchase the ordinary shares was granted, out of the Company's available cash resources.
The ordinary shares were repurchased for an aggregate value of R11 395 808.79.

  Date of               Number of      Highest price      Lowest price       Aggregate value
  repurchases            ordinary       per ordinary      per ordinary
                           shares              share             share
                      repurchased
  26 November             341 855             R33.55            R31.99       R 11 395 808.79
  2025 to 22
  January 2026

The repurchases were made in terms of the general authority granted by shareholders at the
AGM and were effected through the order book operated by the JSE trading system without any
prior understanding or arrangement between the Company and the counterparties. The general
repurchase of ordinary shares requirements have been complied with in terms of
paragraph 5.72(a) of the JSE Listings Requirements.

The ordinary shares repurchased were de-listed and cancelled on 03 February 2026.

Argent is entitled to repurchase a further 10 428 640 ordinary shares (19.37% of the ordinary
shares in issue as at the date of the authority), in terms of the current general authority, which
is valid until Argent's next annual general meeting.

As at the date of this announcement, the Company held nil ordinary shares in treasury.

The ordinary shares were repurchased from excess working capital resources of the Company
and the interest that would have been generated for the Group's banking facility is minimal.

OPINION OF THE BOARD OF THE COMPANY

The board of Argent has considered the effect of the repurchases and is of the opinion that, for
a period of 12 months following the date of this announcement:
-    the Company and the Group will be able, in the ordinary course of business, to repay their
     debts;
-    the consolidated assets of the Company and the Group will be in excess of the
     consolidated liabilities of the Company and the Group;
-    the Company's and the Group's share capital and reserves will be adequate for the
     purposes of the business of the Company and the Group; and
-    the Company and the Group will have sufficient working capital for ordinary business
     purposes.

Umhlanga
03 February 2026

Sponsor
PSG Capital

Date: 03-02-2026 01:15:00
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