ZEDER INVESTMENTS LIMITED - Exercise and related net cash settlement of share options in terms of the Zeder Group share incentive trust

Exercise and related net cash settlement of share options in terms of the Zeder Group share incentive trust

 ZEDER INVESTMENTS LIMITED
 (Incorporated in the Republic of South Africa)
 Registration number: 2006/019240/06
 Share code: ZED
 ISIN: ZAE000088431
 LEI code: 37890022AF5FD117D649
 Main Board – General Segment
 ("Zeder" or "the Company")


EXERCISE AND RELATED NET CASH SETTLEMENT OF SHARE OPTIONS IN TERMS
OF THE ZEDER GROUP SHARE INCENTIVE TRUST ("SIT")


Upon the exercise of the share options referred to below, Zeder elected to settle same on a
net-cash basis in line with Zeder's remuneration policy.

Due to the net-cash settlement, the executive director did not receive any Zeder shares in
respect of such options exercised and accordingly, no shares were traded and there is
therefore no obligation to report same.

In the interest of transparency, the following information regarding the exercise of options is
consequently disclosed:

 NAME OF DIRECTOR                                  JH le Roux

 COMPANY OF WHICH A DIRECTOR                       Zeder Investments Limited

 STATUS: EXECUTIVE/NON-EXECUTIVE                   Executive

 TYPE AND CLASS OF SECURITIES                      Options in relation to ordinary shares

 OPTION STRIKE PRICE                               R(1.38)

 NUMBER OF OPTIONS EXERCISED                       3 750 000

 EXERCISE DATE OF OPTIONS                          After close of business on
                                                   3 February 2026

 PERIOD OF EXERCISE                                Participants have a 180-day period from
                                                   the vesting date of 18 January 2026
                                                   during which the options can be exercised

 NATURE OF TRANSACTION                             Exercise of share options by the director
                                                   at the last traded share price of R1.36 per
                                                   share on 3 February 2026, with settlement
                                                   occurring on a net cash settled basis

 NATURE AND EXTENT OF INTEREST IN                  Direct, beneficial
 THE TRANSACTION


Clearance for the above was obtained in accordance with paragraph 3.66 of the JSE Limited
Listings Requirements.
Stellenbosch
4 February 2026


               Sponsor      Independent Joint Sponsor
              PSG Capital        BSM Sponsors

Date: 04-02-2026 04:30:00
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