OUTsurance GROUP LIMITED - OGL subsidiary entering into total return swaps

OGL subsidiary entering into total return swaps

OUTsurance Group Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2010/005770/06)
ISIN: ZAE000314084
Share code: OUT
("OGL")

OGL SUBSIDIARY ENTERING INTO TOTAL RETURN SWAPS

Today, 2 May 2025, OGL's 92.69%-held subsidiary, OUTsurance
Holdings Limited (OHL), finalised the terms of two Total
Return Swaps (TRSs) linked to the share price of OGL. The
aggregated terms of these TRSs are as follows:

Number of OGL shares
referenced in the TRSs        :   15 000 000
Weighted average OGL share
price referenced in the
TRSs                          :   6 718.17 cents
Total value of OGL shares
referenced in the TRSs        :   R1 007 725 320

OGL shareholders are also referred to the announcement
released on the Stock Exchange News Service on 5 December 2024
informing shareholders of TRSs entered into by two wholly-
owned subsidiaries of OHL. The table below aggregates the
terms of all the TRSs entered into on 5 December 2024 and 2
May 2025:

Number of OGL shares
referenced in the TRSs        :   22 650 599
Weighted average OGL share
price referenced in the
TRSs                          :   6 656.45 cents
Total value of OGL shares
referenced in the TRSs        :   R1 507 725 359

These TRSs were entered into as a partial hedge against the
share-based payment liability accruing on the last tranche of
the Employee Share Option Plan (ESOP) which is expected to
vest in September 2025. In total, 79% of this last tranche of
the ESOP is now hedged. Effective from September 2023, the OGL
group changed to a Conditional Share Plan as approved by
shareholders, the first tranche of which is expected to vest
in September 2026.

Centurion
2 May 2025

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

Date: 02-05-2025 11:10:00
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