NETCARE LIMITED - General Repurchase of Ordinary Shares

General Repurchase of Ordinary Shares

NETCARE LIMITED
Incorporated in the Republic of South Africa
(Registration number 1996/008242/06)
JSE ordinary share code: NTC
ISIN: ZAE000011953
JSE preference share code: NTCP
ISIN: ZAE000081121
A2X share code: NTC
("Netcare" or the "Company" or the "Group")


GENERAL REPURCHASE OF ORDINARY SHARES

1.   Introduction

     Shareholders are advised that Netcare has repurchased 42 713 982 of its ordinary shares in terms of the
     general authority granted by shareholders at Netcare's annual general meeting ("AGM") held on 7 February
     2025 (the "General Repurchase").

2.   Details of the General Repurchase

         Dates of the General Repurchase:                      19 February 2025 to 04 April 2025
         Number of ordinary shares repurchased:                42 713 982
         Lowest price paid per ordinary share:                 R12.5101
         Highest price paid per ordinary share:                R13.7421
         Average price paid per ordinary share:                R13.1359
         Total value of ordinary shares repurchased:           R561 086 596.15
         Remaining extent of authority outstanding after the   99 040 948 ordinary shares (representing 6.99% of
         General Repurchase:                                   ordinary shares in issue on 7 February 2025, being
                                                               the date on which the general authority was
                                                               granted by shareholders)

     The ordinary shares repurchased by Netcare in terms of General Repurchase will be held as treasury shares
     by its wholly owned subsidiaries. To the extent that the number of shares collectively held by wholly owned
     subsidiaries is anticipated to exceed 10% of the Company's current issued share capital, shares will be
     delisted and cancelled as required.

     To date, the General Repurchase represents 3.01% of Netcare's issued ordinary shares at the time the
     general authority was granted by shareholders. Netcare currently holds 152 962 177 ordinary shares as
     treasury shares. Of these shares, 24 206 100 shares are held by Netcare Limited on behalf of share scheme
     participants. The treasury shares represent 9.1% of the ordinary shares in issue excluding the shares held
     on behalf of scheme participants.

     The General Repurchase was partly conducted during a closed period, pursuant to a repurchase programme
     entered into prior to the commencement of the closed period, full details of which were submitted to the JSE
     Limited ("JSE") in accordance with the JSE Listings Requirements.

3.   Source of funds

     The General Repurchase has been funded from cash generated by operations.

4.   Statement by the directors

     Having considered the effect of the General Repurchase, the board of directors of Netcare is of the opinion
     that for a period of 12 months after the date of this announcement:

     -        the Company and the Group will be able to pay its debts in the ordinary course of business;
     -        the assets of the Company and the Group will be in excess of the liabilities of the Company and the
              Group. For this purpose, the assets and liabilities were recognised and measured in accordance with
              the accounting policies used in the Company's and the Group's latest audited annual financial
              statements;
     -        the share capital, reserves and working capital of the Company and the Group will be adequate for
              ordinary business purposes; and
     -        the Company and the Group have passed the solvency and liquidity test and since the test was
              performed there have been no material changes in the financial position of the Company or the Group.

5.   Impact of the General Repurchase on financial information

     The General Repurchase has no material impact on the financial information of Netcare and will result in
     the Company and Group cash balances decreasing by R561 086 596.15.

6.   Compliance with paragraph 5.72 of the JSE Listings Requirements

     The General Repurchase was effected through the order book operated by the JSE trading system and done
     without any prior understanding or arrangement between the Company and the counter parties.


     Since the commencement of the share buyback program in September 2023, Netcare has bought back 125.0
     million shares (8.7% of total ordinary shares in issue at 30 September 2023) at an average price of 1 256 cents
     per share.



Johannesburg
7 April 2025

Corporate Advisor and Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 07-04-2025 04:00:00
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