VISUAL INTERNATIONAL HOLDINGS LIMITED - Extension of Non-Binding Offer and Completion of Valuation

Extension of Non-Binding Offer and Completion of Valuation

VISUAL INTERNATIONAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/030975/06)
ISIN Code : ZAE000187407 Share code : VIS
("Visual" or "the Company")

EXTENSION OF NON-BINDING OFFER AND COMPLETION OF VALUATION

Shareholders are advised that Visual has granted an extension to Serowe Industries Proprietary
Limited ("Serowe") until 30 June 2026, in respect to the non-binding offer ("NBO"), incorporating
a request for exclusivity, from Serowe.

The NBO relates to the potential subscription for a minority equity interest ("Expression of
Interest") to acquire up to 34.9% of the issued ordinary share capital of Visual International for
an indicative subscription consideration of R60,000,000 (sixty million rand).

The above-mentioned transaction was subject to both a valuation from an independent
advisor as well as a due diligence process being completed. The valuation work has
successfully been completed by Mettle Specialised Finance Proprietary Limited and the due
diligence work will now commence through a different service provider.

Additional Information
Shareholders are reminded that the expression of interest is non-binding and will only proceed
if a binding offer is submitted, the required agreements are concluded and the board,
regulatory and shareholder approvals are obtained, where required.

The Company will keep shareholders updated on further developments as the process unfolds.

A cautionary announcement has not been issued as all the current available information has
been published and is in the public domain.

By order of the Board
Johannesburg
14 May 2026

Designated Advisor
AcaciaCap Advisors Proprietary Limited

Date: 14-05-2026 09:10:00
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