SOUTHERN SUN LIMITED - Grant and Acceptance of Share Appreciation Rights by Directors

Grant and Acceptance of Share Appreciation Rights by Directors

Southern Sun Limited
Incorporated in the Republic of South Africa
Registration number 2002/006356/06
Share Code: SSU ISIN: ZAE000272522
("Southern Sun" or "the Company")

GRANT AND ACCEPTANCE OF SHARE APPRECIATION RIGHTS BY DIRECTORS

In compliance with Paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information
is disclosed in relation to the granting and acceptance of Share Appreciation Rights ("SARs") in terms of the
Southern Sun Share Appreciation Rights Plan by directors of the Company and its major subsidiaries.

Director                               Marcel Von Aulock
Designation                            Chief Executive Officer
Company                                Southern Sun
Nature of transaction                  Grant and acceptance of SARs, off market
Nature of interest                     Direct, beneficial
Class of shares                        Ordinary SSU shares
Date of grant of SARs                  1 October 2025
Date of acceptance                     4 December 2025
Clearance to deal                      Yes

Number of      SARs strike price     Value of transaction    Vesting date of SARs        Expiry Date of
SARs                                                                                               SARs
1 143 981                R8.8584           R10 133 841.30              30/09/2028            30/09/2029


Director                                Laurelle McDonald
Designation                             Chief Financial Officer
Company                                 Southern Sun
Nature of transaction                   Grant and acceptance of SARs, off market
Nature of interest                      Direct, beneficial
Class of shares                         Ordinary SSU shares
Date of grant of SARs                   1 October 2025
Date of acceptance                      4 December 2025
Clearance to deal                       Yes

Number of      SARs strike price     Value of transaction    Vesting date of SARs         Expiry Date of
SARs                                                                                                SARs
571 905                  R8.8584            R5 066 163.25              30/09/2028             30/09/2029


5 December 2025

JSE Equity Sponsor
Investec Bank Limited

Date: 05-12-2025 12:56:00
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