CITY LODGE HOTELS LIMITED - General Repurchase of Shares

General Repurchase of Shares

City Lodge Hotels Limited
(Incorporated in the Republic of South Africa)
(Registration. No. 1986/002864/06)
ISIN Code: ZAE000117792
Share Code: CLH
("City Lodge" or the "Company")

GENERAL REPURCHASE OF SHARES

1. Introduction

    In compliance with paragraphs 5.79 and 11.27 of the Listings Requirements of JSE Limited ("JSE"),
    the board of directors of City Lodge (the "Board") hereby advises shareholders that, in accordance
    with the general authority granted by shareholders at the Company's annual general meeting
    ("AGM") held on Thursday, 21 November 2024 ("General Authority"), City Lodge has cumulatively
    repurchased 42 729 300 ordinary shares ("Shares"), representing 7.14361% of the Company's
    issued share capital as at the date of the AGM (the "General Repurchase").

2. Details of General Repurchase

     Dates of the General Repurchase:                               10 March 2025 to 3 October 2025
     Number of Shares repurchased:                                  42 729 300
     Highest price per Share:                                       R4.20
     Lowest price per Share:                                        R3.53
     Volume weighted average price ("VWAP") per Share:              R3.98529
     Total value of Shares repurchased:                             R170 288 826.62

    The General Repurchase was effected through the order book operated by the JSE and done
    without any prior understanding or arrangement between the Company and the counter parties. No
    Shares were repurchased during a closed period.

    In terms of the General Authority, 7 629 300 repurchased Shares have been delisted and cancelled.
    A further application has been made to the JSE for the delisting and cancellation of the balance,
    being 35 100 000 repurchased Shares, which is expected to occur before Friday, 10 October 2025.
    Following the General Repurchase:
     • City Lodge still holds 41 987 605 Shares as treasury shares, representing 7.56% of the
         Company's Shares in issue as at the date of this announcement; and
     • the extent of the general authority outstanding is 17 085 383 Shares, representing 2.85639%
         of the total Shares in issue as at the date of the AGM.

    Shareholders are reminded that, as disclosed in the annual financial statements for the year ended
    30 June 2024, City Lodge had repurchased, delisted and cancelled 11 397 972 shares.

3. Source of funds

    The General Repurchase was funded from available cash resources and debt facilities.

4. Statement by the directors

    The Board has considered the effect of the General Repurchase and is of the opinion that, for a
    period of 12 months following the date of this announcement:
     • the Company and the group will be able to pay its debts in the ordinary course of business;
     • the total assets of the Company and the group will be in excess of the total liabilities of the
       Company and the group. For this purpose, the assets and liabilities were recognised and
       measured in accordance with the accounting policies used in the latest audited annual group
       financial statements;
     • the share capital, reserves and working capital of the Company and the group will be adequate
       for ordinary business purposes; and
     • the Company and the group have passed the solvency and liquidity test and since the test was
       performed there have been no material changes in the financial position of the group.

5. Impact of the General Repurchase on financial information

    The General Repurchase and related transaction costs have had no material impact on the
    financial information of City Lodge and will result in a decrease in the Company's cash balances
    corresponding to the approximate value of the Shares repurchased.

Bryanston
8 October 2025

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

Date: 08-10-2025 10:25:00
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