HOSKEN CONSOLIDATED INVESTMENTS LIMITED - Voluntary announcement: Disposal of Kalahari Mall

Voluntary announcement: Disposal of Kalahari Mall

Hosken Consolidated Investments Limited
(Incorporated in the Republic of South Africa)
(Registration number 1973/007111/06)
(Share code: HCI & ISIN: ZAE000003257)
("HCI" or the "Company")

VOLUNTARY ANNOUNCEMENT: DISPOSAL OF KALAHARI MALL

The Company's subsidiary, Kalahari Village Mall Proprietary Limited ("KVM"), is a beneficiary of, and the
lessee in respect of, a 90 year notarial deed of lease which entitles it to the right to lease and operate a rental
enterprise commonly known as "Kalahari Mall". Kalahari Mall is a premium shopping centre located in
Upington, Northern Cape, which tenants include retail businesses.

Shareholders are hereby advised that KVM has entered into a sale agreement in terms of which, inter alia, KVM
will dispose of its rights, title and interest in and to the aforementioned rental enterprise to NAD Property Income
Fund Proprietary Limited, for a purchase consideration of R800million (inclusive of VAT at 0%) ("Disposal
Consideration") (collectively, the "Transaction").

The Disposal Consideration will be used to settle taxes and the debt funding owing by KVM to its debt funders,
the debt funding as at the date hereof is approximately R249 million. The remainder of the Disposal
Consideration is intended to be distributed by KVM to its shareholders, including HCI. HCI holds an effective
64.78% interest in KVM.

The Transaction is subject to the fulfilment (or waiver) of a number of conditions precedent, including that the
competition authorities must have approved the Transaction, with or without such conditions to be imposed on
and approved by the parties affected by such conditions.

The Transaction is not notifiable from a categorisation perspective in terms of the JSE Limited Listings
Requirements and accordingly, no shareholder approval is required. The information contained herein is
disclosed on a voluntary basis.


Cape Town
11 March 2026


Sponsor
Investec Bank Limited


Legal advisor
White and Case Inc.

Date: 11-03-2026 04:45:00
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