ADCORP HOLDINGS LIMITED - RESULTS OF THE SPECIAL GENERAL MEETING

RESULTS OF THE SPECIAL GENERAL MEETING

Adcorp Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1974/001804/06)
Share Code: ADR
ISIN: ZAE000000139
(“Adcorp” or the “Company”)

RESULTS OF THE SPECIAL GENERAL MEETING

Shareholders are hereby advised that at the Special General Meeting of the Company held at the registered offices of the
Company at Adcorp Place, 102 Western Service Road, Gallo Manor Ext 6, Johannesburg, 2191 at 09:00 today, Monday, 14
December 2020 (“SGM”), all of the resolutions were passed by the requisite majorities of the Company’s shareholders.

Details of the results of the voting at the SGM are as follows:

Ordinary Shares

 Resolutions           Votes for             Votes against        Number of           Number of             Number of
 proposed at the       resolution as a       resolution as a      ordinary shares     ordinary shares       ordinary shares
 SGM                   percentage of         percentage of        voted at SGM 1      voted at SGM as       abstained as a
                       total number of       total number of                          a percentage of       percentage of
                       ordinary shares       ordinary shares                          shares in issue       shares in issue
                       voted at SGM          voted at SGM
 Ordinary              100%                  0%                   101 864 062         92.64%                0.003%
 Resolution 1:
 Proposed B-BBEE
 Transaction
 Ordinary              100%                  0%                   101 864 062         92.64%                0.003%
 Resolution 2:
 Adcorp’s Board
 Authority

B Shares

 Resolutions           Votes for             Votes against        Number of B         Number of B           Number of B
 proposed at the       resolution as a       resolution as a      shares voted at     shares voted at       shares abstained
 SGM                   percentage of         percentage of        SGM 1, 2            SGM as a              as a percentage
                       total number of B     total number of B                        percentage of         of shares in issue
                       shares voted at       shares voted at                          shares in issue
                       SGM                   SGM
 Ordinary              100%                  0%                   12 617 137          100%                  0%
 Resolution 1:
 Proposed B-BBEE
 Transaction
 Ordinary              100%                  0%                   16 822 849          100%                  0%
 Resolution 2:
 Adcorp’s Board
 Authority

Notes:

1.   Total number of shares in issue as at the date of the SGM was 126 777 524 of which 109 954 675 were ordinary shares and
     16 822 849 were B shares;
2.   These votes exclude the voting rights of Simeka and their associates, being 4 205 712 B shares, as a result of Simeka being
     a related party to the Proposed B-BEE Transaction.

Johannesburg
14 December 2020

Corporate Advisor and Transaction Sponsor
Pallidus Capital Proprietary Limited

Legal Advisor
Baker & McKenzie Incorporated

Sponsor
PSG Capital

Date: 14-12-2020 03:30:00
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