ADCORP HOLDINGS LIMITED - Settlement of shares in terms of the Adcorp Share Plan

Settlement of shares in terms of the Adcorp Share Plan

ADCORP HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1974/001804/06
Share code: ADR
ISIN: ZAE000000139
("Adcorp" or "the Company")


SETTLEMENT OF SHARES IN TERMS OF THE ADCORP SHARE PLAN


In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the
following information regarding the settlement of performance shares ("Awards") in terms of
the Adcorp Share Plan is disclosed:

    NAME OF PARTICIPANTS                                 BRL Toerien   (1)
                                                         MK Masemola 1 (2)
                                                         N Mabidi      (3)
    
    COMPANY OF WHICH A PRESCRIBED                        Adcorp (1)
    OFFICER

    COMPANY OF WHICH A DIRECTOR                          Adcorp Workforce Solutions (Pty) Limited
                                                         (2)

                                                         Adcorp Management Services (Pty) Limited
                                                         (2-3)

    STATUS                                               Prescribed Officer of Adcorp and Managing
                                                         Director: Contingent Staffing South Africa (1)

                                                         Executive director of Adcorp Workforce
                                                         Solutions (Pty) Limited and Adcorp
                                                         Management Services (Pty) Limited (2)

                                                         Executive director of Adcorp Management
                                                         Services (Pty) Limited (3)

    TYPE AND CLASS OF SECURITIES                         Ordinary shares (1-3)

    NATURE OF TRANSACTION                                Settlement of ordinary shares following the
                                                         vesting of Awards in terms of the Adcorp
                                                         Share Plan (net of tax) (off-market
                                                         transaction) (1-3)

    AWARD DATE                                           14 December 2022 (1-3)

    VESTING DATE                                         13 December 2025 (1-3)

    SETTLEMENT DATE                                      29 January 2026 (1-3)

    NUMBER OF SHARES SETTLED                             26 056 (1)
                                                         16 788 (2)
                                                         29 817 (3)

    DEEMED PRICE PER SETTLED SHARE                       630 (1-3)
    (CENTS)
 
    DEEMED RAND VALUE AT SETTLEMENT                      R164,152.80 (1)
                                                         R105,764.40 (2)
                                                         R187,847.10 (3)

    NATURE AND EXTENT OF INTEREST IN                     Direct, beneficial (1-3)
    THE TRANSACTION

    1 Resigned as director of Adcorp Workforce Solutions (Pty) Limited and Adcorp Management Services (Pty)
      Limited with effect from 1 February 2026.

Clearance for the above was obtained in terms of paragraph 3.66 of the JSE Limited Listings
Requirements.

Johannesburg
2 February 2026

Sponsor
Valeo Capital (Pty) Ltd

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