VISUAL INTERNATIONAL HOLDINGS LIMITED - Termination of Non-binding Offer

Termination of Non-binding Offer

VISUAL INTERNATIONAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/030975/06)
ISIN Code : ZAE000187407 Share code : VIS
("Visual" or "the Company")


TERMINATION OF NON-BINDING OFFER


Shareholders are referred to the Company's previous SENS announcement dated
16 September 2025 as well as the announcements extending exclusivity to 30 June
2026, regarding the receipt of a non-binding offer from Serowe Industries Proprietary
Limited ("Serowe") in relation to the potential acquisition by Serowe of up to 34.9% of
the issued ordinary shares in the Company.

The Board advises shareholders that it has received formal written notification from
Serowe confirming that it has elected to terminate its non-binding offer and that it will
not proceed with the proposed transaction. As previously communicated, the non-
binding offer was subject to a number of conditions and did not constitute a binding
commitment by either party to conclude the proposed transaction. No binding
transaction agreements were entered into between the parties.

Accordingly, the proposed transaction will not proceed, and shareholders are
advised that they should no longer place reliance on the Company's previous
announcements relating to the proposed non-binding offer.

The Board thanks Serowe for its engagement throughout the process and remains
focused on implementing the Company's strategic objectives and pursuing
opportunities that are in the best interests of the Company and its shareholders.

By order of the Board
Johannesburg
10 July 2026

Designated Advisor
AcaciaCap Advisors Proprietary Limited

Date: 10-07-2026 03:49:00
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