TSOGO SUN LIMITED - General repurchase of ordinary shares

General repurchase of ordinary shares

TSOGO SUN LIMITED
Incorporated in the Republic of South Africa
Registration number: 1989/002108/06
Share code: TSG
Alpha Code: TSGI
ISIN: ZAE000273116
("Tsogo Sun" or "the Company")

GENERAL REPURCHASE OF ORDINARY SHARES

1.   INTRODUCTION
     Further to the Company's General Repurchase of Ordinary Shares announcement dated 17
     February 2026 ("First General Repurchase"), and in compliance with paragraph 7.90 of the
     Listings Requirements of JSE Limited ("JSE"), the board of directors of Tsogo Sun (the "Board")
     hereby advises shareholders that, in accordance with the general authority granted by
     shareholders at the Company's annual general meeting ("AGM") held on Friday, 29 August 2025
     ("General Authority"), Tsogo Sun has repurchased an additional 39 798 060 of its ordinary
     shares ("Second General Repurchase"), such that the Company has now cumulatively
     repurchased 72 309 214 of its ordinary shares, representing 6.94% of the Company's issued
     share capital as at the date of the AGM.

2.   DETAILS OF THE SECOND GENERAL REPURCHASE
      Dates of the Second General Repurchase:         23 March 2026 to 14 May 2026
      Number of ordinary shares repurchased:          39 798 060
      Lowest price paid per ordinary share:           R6.66
      Highest price paid per ordinary share:          R7.05
      Average price paid per ordinary share:          R6.962
      Total value of ordinary shares repurchased:     R277 075 323.00
      Remaining extent of authority outstanding       84 080 308 ordinary shares (representing
      after the Second General Repurchase:            8.06% of the Company's ordinary shares in
                                                      issue on 29 August 2025, being the date on
                                                      which the General Authority was granted by
                                                      shareholders)
        
     The Second General Repurchase was effected through the order book operated by the JSE,
     without any prior understanding or arrangement between the Company and the counter
     parties.
     
     The Second General Repurchase was partly conducted during a prohibited period pursuant to a
     repurchase programme entered into prior to the commencement of the prohibited period, full
     details of which repurchase programme were submitted to the JSE in accordance with the
     Listings Requirements of the JSE.
     
     Pursuant to the General Authority, 62 309 214 of the 72 309 214 shares in the Company,
     cumulatively repurchased in terms of the First Repurchase and the Second Repurchase, have
     been delisted and cancelled. A further application will be submitted to the JSE for a delisting and
     cancellation of the remaining 10 000 000 repurchased shares, which delisting and cancellation
     is expected to occur on or about Wednesday, 20 May 2026.
     Tsogo Sun has no treasury shares as defined in the Listings Requirements of the JSE.

3.   SOURCE OF FUNDS
     The Second General Repurchase has been funded from available cash resources.

4.   STATEMENT BY THE DIRECTORS
     The Board has considered the effect of the Second General Repurchase and is of the opinion
     that 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 group.

5.   IMPACT OF THE SECOND GENERAL REPURCHASE ON FINANCIAL INFORMATION
     The Second General Repurchase and related transaction costs have had no material impact on
     the financial information of the Company and will result in a decrease in the Company's cash
     balances corresponding to the approximate value of the shares repurchased pursuant to the
     Second Repurchase.

FOURWAYS
15 May 2026

EQUITY SPONSOR:
Investec Bank Limited

DEBT SPONSOR:
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

www.tsogosun.com

Date: 15-05-2026 08:01:00
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.