Market Update on Unbundling and Liquidation 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 AND LIQUIDATION 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 announcements released by Arden Capital on SENS on 20 December 2021 and 17 January 2022, wherein Shareholders were advised that the Conditions Precedent to the proposed Unbundling and Voluntary Liquidation, as contained in paragraph 5 of the Circular, had lapsed as a result of a delay in receiving approval from the Reserve Bank of Zimbabwe (RBZ) timeously. Shareholders are now advised that the Company has received RBZ approval for the Proposed Transaction, subject to certain conditions imposed by the RBZ. The Board is currently assessing the conditions and intends to re-propose the Proposed Transaction to Shareholders in due course. Shareholders will be advised of any further updates in this regard. Grand Baie, Mauritius 9 February 2022 Sponsor Questco Corporate Advisory Proprietary Limited Date: 09-02-2022 04:32:00 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.