BRAIT PLC - Notification of an adjustment to the conversion price

Notification of an adjustment to the conversion price

BRAIT P.L.C.
(Registered in Mauritius as a Public Limited Company)
(Registration No. 183309 GBC)
Share code: BAT ISIN: LU0011857645
Bond code: WKN: A2SBSU ISIN: XS2088760157
LEI: 549300VB8GBX4UO7WG59
("Brait" or the "Company")

NOTIFICATION OF AN ADJUSTMENT TO THE CONVERSION PRICE

The Company hereby notifies bondholders of the £133 627 786 8.0 percent Convertible Bonds due
2027 (the "Convertible Bonds"), that in accordance with Condition 6(b)(iv) of the Terms and Conditions
of the Convertible Bonds and as a result of the issue of up to 1 655 629 139 new Ordinary Shares under
the rights issue announced on 18 June 2026 with an ex-date of 22 July 2026 (the "Effective Date") the
Conversion Price has been adjusted on the Effective Date from £0.3523 to £0.3240.

Capitalised terms not otherwise defined in this notice shall have the meaning given to them in the terms
and conditions of the Convertible Bonds (the "Conditions").

Port Louis, Mauritius

Wednesday, 22 July 2026

Brait's Ordinary Shares are primary listed and admitted to trading on the Euro MTF market of the
Luxembourg Stock Exchange ("LuxSE") and its secondary listing is on the exchange operated by the
JSE Limited ("JSE"). The Company's Convertible Bonds are dual listed on the Open Market
("Freiverkehr") segment of the Frankfurt Stock Exchange as well as the Official Market of the Stock
Exchange of Mauritius ("SEM").

LuxSE Listing Agent:
Harney Westwood & Riegels SARL

JSE Sponsor:
Rand Merchant Bank, a division of FirstRand Bank Limited

SEM Authorised Representative and Sponsor:
Perigeum Capital Limited

Date: 22-07-2026 01:30:00
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