DENEL SOC LIMITED - Notification of the voting results in respect of request for written consent of noteholders

Notification of the voting results in respect of request for written consent of noteholders

DENEL SOC LIMITED
Registration number: 1992/001337/30
JSE Alpha Code: BIDEN
(“Denel” or “the Company” or the “Issuer”)

NOTIFICATION OF THE VOTING RESULTS IN RESPECT OF REQUEST FOR WRITTEN CONSENT OF
NOTEHOLDERS

Unless otherwise defined herein, capitalised terms shall have the same meaning as set forth in the Consent
Request (as defined below).

Noteholders are referred to the notice of request for written consent released on SENS on 11 October 2022
(the Consent Request), in which the Extraordinary Resolutions set out below were proposed:

1.1.     Extraordinary Resolution No. 1:

         THAT the Noteholders consent of the Delisting and subsequent amendment and restatement of the
         existing applicable pricing supplement relating to the Notes to give effect to the Delisting.

1.2.     Extraordinary Resolution No. 2:

         THAT subject to the consent of the Noteholders pursuant to Extraordinary Resolution No. 1 above,
         the Issuer be authorised to enter into any documentation or take any necessary steps to give effect
         to the consents specified in Extraordinary Resolutions No. 1 above.”

In this regard, Denel confirms that the voting results from the Consent Request in relation to the total nominal
amount of those classes of debt securities that were affected by the amendments are as follows:

Bond Code         Extraordinary              Debt            Debt       Votes for           Votes           Votes
                    Resolution         securities      securities             the     against the       abstained
                                       voted as a           voted      resolution      resolution             (%)
                                       Rand value             (%)             (%)             (%)                                                      (R)
                                   
DENG88                   1         100,000,000.00             100             100               0               0
                         2         100,000,000.00             100             100               0               0


Following the above voting results, the requisite majority was obtained.

27 October 2022

Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 27-10-2022 08:30:00
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