BARLOWORLD LIMITED - Unbundling of Zeda limited: closing share prices of Barloworld and Zeda ordinary shares

Unbundling of Zeda limited: closing share prices of Barloworld and Zeda ordinary shares

BARLOWORLD LIMITED
Incorporated in the Republic of South Africa
Registration Number: 1918/000095/06
Share code: BAW ISIN: ZAE000026639
Share code: BAWP ISIN: ZAE000026647
Bond issuer code: BIBAW
“Barloworld”

UNBUNDLING OF ZEDA LIMITED: CLOSING SHARE PRICES OF BARLOWORLD AND ZEDA ORDINARY SHARES

Shareholders are referred to the announcements released on the Stock Exchange News Service of the JSE Limited (JSE) on 21 and 28 November, 2022
regarding the listing of the ordinary shares in Zeda Limited (Zeda) on the Main Board of the JSE (the Listing) and the unbundling of Barloworld's investment in
its car rental and vehicle leasing business (the Unbundling).

The Unbundling was implemented by way of the listing of 189,641,787 Zeda ordinary shares (Zeda Ordinary Shares), comprising 100% of the issued ordinary
share capital of Zeda, on the Main Board of the JSE on Tuesday, 13 December, 2022, followed by a pro rata distribution in specie of such JSE-listed Zeda
Ordinary Shares for no consideration, in terms of section 46 of the South African Companies Act, No. 71 of 2008 and section 46 of the South African Income
Tax Act, No. 58 of 1962, to holders (Barloworld Ordinary Shareholders) of Barloworld ordinary shares (Barloworld Ordinary Shares) entitled to receive this
distribution on Monday, 19 December, 2022. Moreover, the Unbundling will be implemented on the basis that Barloworld Ordinary Shareholders recorded on the
Barloworld share register at 17:00 (SAST) on Thursday, 15 December, 2022 will receive 1 Zeda Ordinary Share for every 1 Barloworld Ordinary Share held.

As per the applicable JSE corporate action timetable, Barloworld advises that, on 15 December, 2022, the closing price of:

    •   Barloworld Ordinary Shares amounted to R85.53 per share; and
    •   Zeda Ordinary Shares amounted to R14.01 per share.

Sandton

15 December 2022

Corporate and Transaction Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Financial Advisor
Goldman Sachs International

Legal Advisor
Bowmans

Enquiries:
Nwabisa Piki
Group Investor Relations Tel: +27 64 880 6872
E-mail: nwabisap@barloworld.com

Date: 15-12-2022 05:30:00
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