REMGRO LIMITED - Correction of announcements regarding distribution of shareholding in eMedia Holdings Limited (EMH)

Correction of announcements regarding distribution of shareholding in eMedia Holdings Limited (“EMH”)

REMGRO LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1968/006415/06)
ISIN: ZAE000026480
JSE and A2X share code: REM
("Remgro")

CORRECTION OF ANNOUNCEMENTS REGARDING DISTRIBUTION OF SHAREHOLDING IN EMEDIA
HOLDINGS LIMITED ("EMH")

1.   INTRODUCTION

Remgro shareholders ("Remgro Shareholders") are referred to:

     -   the announcement released by Remgro on the Stock Exchange News Service of the JSE on
         Monday, 8 September 2025 ("Distribution Announcement");
     -   the announcement released by Remgro on the Stock Exchange News Service of the JSE on
         Thursday, 25 September 2025 providing the updated ratio that Remgro Shareholders would,
         pursuant to the distribution in specie, become entitled to the Unbundling Shares in the ratio of
         41.96443 Unbundling Shares for every 100 Remgro Ordinary Shares and every 100 class B
         ordinary shares, respectively in Remgro ("Fractional Entitlements and Apportionment of Tax
         Cost Announcement"); and
     -   the announcement released by Remgro on the Stock Exchange News Service of the JSE on Friday,
         26 September 2025 ("Closing Prices Announcement"),

regarding the unbundling by way of a distribution in specie of 238,472,945 N ordinary shares in EMH to
Remgro Shareholders. Terms defined in the Distribution Announcement, the Fractional Entitlements and
Apportionment of Tax Cost Announcement, and the Closing Prices Announcement (as the case may be)
bear the same meaning in this announcement.

2.   CORRECTIONS IN RESPECT OF THE FRACTIONAL ENTITLEMENTS AND APPORTIONMENT
     OF TAX COST ANNOUNCEMENT

     2.1. Remgro Shareholders are advised of a correction to the calculation of the Cash Proceeds as set
          out in paragraph 3 of the Fractional Entitlements and Apportionment of Tax Cost Announcement.

     2.2. Accordingly, paragraph 3.3 of the Fractional Entitlements and Apportionment of Tax Cost
          Announcement is hereby substituted with the following:

          "Taking into account the VWAP of 221.31665 cents, Remgro Shareholders are advised that the
          calculation of the Cash Proceeds due to Remgro Shareholders in respect of any fractional
          entitlements will be determined on a price of 199.18499 cents (i.e. 221.31665 cents x 90%) per
          Unbundling Share."

     2.3. Remgro Shareholders are advised of a correction to the Apportionment Ratio calculation as set
          out in paragraph 5 of the Fractional Entitlements and Apportionment of Tax Cost Announcement.

     2.4. Accordingly, paragraph 5.2 of the Fractional Entitlements and Apportionment of Tax Cost
          Announcement is hereby substituted with the following:

          "Remgro Shareholders are hereby advised that the Apportionment Ratio is based on the closing
          price of 17559.0 cents per Remgro Ordinary Share and 221.0 cents per Unbundling Share on
          Tuesday, 23 September 2025. The Apportionment Ratio applicable to the Unbundling Shares has
          therefore been calculated as follows:

          Apportionment Ratio = (A / (A + B))

          where:

          A = the closing price of an Unbundling Share x the unbundling ratio, i.e. 92.74044 cents (being
          221.0 cents X 0.41964)

          B = the closing price of a Remgro Ordinary Share, i.e. 17559.0 cents

            =    92.74044 cents
                 __________________________
                 92.74044 cents + 17559.0 cents

            =    0.52539%"

     2.5. Furthermore, paragraph 5.3 of the Fractional Entitlements and Apportionment of Tax Cost
          Announcement is hereby substituted with the following:

          "Remgro Shareholders are hereby advised that the expenditure incurred and/or Market Value, as
          the case may be, in respect of Remgro Ordinary Shares must therefore be apportioned in the ratio
          of 0.52539% to an Unbundling Share and 99.47461% to a Remgro Ordinary Share."

3.   CORRECTION IN RESPECT OF THE CLOSING PRICES ANNOUNCEMENT

     3.1. Remgro Shareholders are advised of a correction to the closing price of EMH N Shares as set out
          in paragraph 2 of the Closing Prices Announcement.

     3.2. Accordingly, paragraph 2 of the Closing Prices Announcement is hereby substituted with the
          following:

          "As per the applicable JSE corporate action timetable, Remgro hereby advises Remgro
          Shareholders that, on Friday, 26 September 2025, the closing price of EMH N Shares amounted
          to 185.0 cents per share and the closing price of Remgro Ordinary Shares amounted to 17272.0
          cents per share."

All other information contained in the Distribution Announcement, Fractional Entitlements and
Apportionment of Tax Cost Announcement and Closing Prices Announcement remains correct and
unchanged.

The amended Fractional Entitlements and Apportionment of Tax Cost Announcement and Closing Prices
Announcement will be displayed on Remgro's website.


Stellenbosch
30 September 2025

Financial adviser and Sponsor
Rand Merchant Bank, a division of FirstRand Bank Limited

Legal adviser
DLA Piper Advisory Services Proprietary Limited

Date: 30-09-2025 07:30:00
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