RAND MERCHANT INVESTMENT HOLDINGS LIMITED - Dealing in securities by the company

Dealing in securities by the company

Rand Merchant Investment Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2010/005770/06)
ISIN: ZAE000210688
JSE ordinary share code: RMI
("RMI" or "the Company")

DEALING IN SECURITIES BY THE COMPANY

RMI shareholders are referred to the announcement released on the
Stock Exchange News Service on 16 March 2022 in respect the
decision not to continue with an active investment strategy and to
embark on an orderly and managed transition to a structure that
represents an effective listing of OUTsurance. In line with this
decision, RMI has unwound its hedge position relating to its long-
term incentive plan for qualifying employees.

In compliance with the JSE Limited Listings Requirements, the
following information is disclosed:

Company                     : RMI
Date of transaction         : 25 March 2022
Nature of transaction       : Off-market acquisition and sale
                              of RMI call options
Class and number of         : Call options on 3 109 870 RMI
securities acquired           ordinary shares
Class and number of         : Call options on 7 157 846 RMI
securities sold               ordinary shares
Delta reference             : 4 914.21 cents per ordinary
                              share
Strike price range of       : 5 600.00 cents to 8 000.00
securities acquired           cents per ordinary share
Strike price range of       : 0.01 cents to 4 600.00 cents
securities sold               per ordinary share
Premium received            : R132 663 684.25
Expiry date range           : 4 April 2022 to 2 October 2026
Nature of interest          : Direct beneficial
Clearance obtained          : Yes


Rosebank
29 March 2022

Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)

Date: 29-03-2022 12:45:00
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