US PLUS LIMITED - Us Plus - Acquisition of a 20.82% Shareholding in UsPlus by Zazi Capital and Dealings by an Associate of a Director

Us Plus - Acquisition of a 20.82% Shareholding in UsPlus by Zazi Capital and Dealings by an Associate of a Director

Us Plus Limited
(Incorporated with limited liability in South Africa under registration number 2014/048709/06)
Alpha Code: USPI
("UsPlus" or "the Company")


ACQUISITION OF A 20.82% SHAREHOLDING IN USPLUS BY ZAZI CAPITAL AND DEALINGS IN
SECURITIES BY AN ASSOCIATE OF A DIRECTOR


Further to the announcements released on SENS on 25 November 2025 and 9 February 2026, the
board of directors of UsPlus ("Board") hereby advises that Zazi Capital Proprietary Limited ("Zazi
Capital") has acquired all of the ordinary shares in the issued share capital of UsPlus ("Ordinary
shares") held by Baleine Capital Proprietary Limited ("Baleine Capital"), representing 20.82% of the
Company's share capital (the "Transaction").

The Transaction was settled in cash on 4 August 2026 and implies an equity value of approximately
R166 million for UsPlus.

Prior to the Transaction, and having supported the establishment of UsPlus in 2015, Baleine Capital
was the second-largest shareholder in UsPlus after UsPlus Holdings. Mr Uys Meyer, a non-executive
director of UsPlus and the principal executive of Baleine Capital, will remain a director of UsPlus
following the Transaction, thereby ensuring continuity and retaining institutional knowledge within the
business.

Zazi Capital is an adviser to selected family offices and businesses and an originator of private capital
investments. Zazi Capital and UsPlus have maintained a strategic relationship since late 2025, during
which time Zazi Capital has supported UsPlus in strengthening its balance sheet and raising capital to
fund its growth objectives.

The Transaction strengthens the ongoing relationship between Zazi Capital and UsPlus and supports
their shared objective of improving access to working-capital funding for small and medium-sized
enterprises, an area that remains underserved in the South African economy.

UsPlus and Zazi Capital share a commitment to supporting South African businesses and contributing
to broader economic participation, job creation and sustainable growth. The Transaction is expected to
support the continued implementation of UsPlus's transformation objectives. Zazi Capital will
recommend a non-executive director for appointment to the Board. Any such appointment will be
announced in due course.

Dealings in Securities by an Associate of a Director

In compliance with paragraphs 6.45 to 6.56 (both inclusive) of the Debt & Specialist Securities Listings
Requirements of the JSE Limited, and pursuant to the Transaction described above, the following is
disclosed:

Name of director:                         Uys Meyer

Company:                                  UsPlus

Name of associate:                        Baleine Capital

Relationship of director to associate:    Uys Meyer is able to exercise or control the exercise of 35%
                                          or more of the voting rights in Baleine Capital

Date of transaction:                      4 August 2026

Extent of interest:                       Indirect non-beneficial

Class of securities:     Ordinary shares

Nature of transaction:   Off-market disposal of UsPlus Ordinary shares

Number of securities:    744

Price per security:      R46,483.63

Total value:             R34,583,817.00


Johannesburg
7 August 2026

Debt Sponsor
Merchantec Capital

Date: 07-08-2026 12:25:00
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