KAP LIMITED - Change in debt sponsor

Change in debt sponsor

KAP LIMITED
(former name: KAP Industrial Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 1978/000181/06)
Company Alpha Code: KAP
LEI code: 3789001F51BC0045FD42
("KAP")

CHANGE IN DEBT SPONSOR

In accordance with paragraph 2.6 of the JSE Limited Debt Listings Requirements, bondholders are
hereby advised of the termination of Nedbank Corporate and Investment Banking, a division of
Nedbank Limited, as Debt Sponsor to KAP, with effect from 31 May 2024.

Furthermore, PSG Capital Proprietary Limited, which currently serves as KAP's Equity Sponsor, has
been appointed as Debt Sponsor to KAP, with effect from 1 June 2024.

The reason for the change in Debt Sponsor is that KAP believes that appointing a single party as
both its Equity Sponsor and Debt Sponsor will reduce its administrative burden and improve
efficiency.

Stellenbosch
4 April 2024

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

Date: 04-04-2024 10:25:00
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