Market Update on Unbundling, Liquidation and Delisting of Arden Arden Capital Limited (Incorporated in the Republic of Mauritius) (Registration number: 115883 C1/GBL) Share Code: ACZ ISIN: MU0548S00026 (“Arden Capital” or “the Company”) MARKET UPDATE ON UNBUNDLING, LIQUIDATION AND DELISTING OF ARDEN The terms defined and used in the circular published and distributed to shareholders on Thursday, 18 November 2021 (“Circular”) have been used in this announcement. Shareholders are referred to the announcement released by Arden Capital on SENS on 20 December 2021, wherein Shareholders were advised that the Conditions Precedent to the Proposed Transaction, as contained in paragraph 5 of the Circular, remained outstanding. The outstanding Conditions Precedent, specifically being the approval from the Reserve Bank of Zimbabwe (“RBZ”), was required to be obtained by the Company by no later than 17 January 2022. Shareholders are advised that Arden Capital remains in discussion with the RBZ for the approval of the Proposed Transaction and accordingly this delay has resulted in the lapsing of the Conditions Precedent long stop date as contained in the Circular and therefore the resolutions pertaining to the Arden Unbundling and the Voluntary Liquidation is now void. Shareholders are advised that the board of Arden Capital remains committed to the completion of the Proposed Transaction. A further update will be in made in due course once the Company’s ongoing engagement with the RBZ has been finalised. Grand Baie, Mauritius 17 January 2022 Sponsor Questco Corporate Advisory Proprietary Limited Date: 17-01-2022 05:39:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.