Acquisition of a 51% stake in Belper Investments Proprietary Limited - update announcement REX TRUEFORM GROUP LIMITED (Incorporated in the Republic of South Africa) (Registration number 1937/009839/06) JSE share code: RTO ISIN: ZAE000250387 JSE share code: RTN ISIN: ZAE000250395 JSE share code: RTOP ISIN: ZAE000250403 ("Rex Trueform" or the "Company") ACQUISITION OF A 51% STAKE IN BELPER INVESTMENTS PROPRIETARY LIMITED – UPDATE ANNOUNCEMENT 1. INTRODUCTION 1.1 Shareholders are referred to the announcement released on the Stock Exchange News Service ("SENS") on 21 April 2022 (the "21 April 2022 announcement") wherein it was advised that the Company had entered into a Subscription Agreement with the existing shareholders, being Wayne van der Vent, Karen Miller and Christopher Hyland of Belper Investments Proprietary Limited ("Belper") in terms of which the Company will subscribe for 51% of the entire issued share capital in Belper ("Transaction"). 1.2 The Company advises that the Transaction is subject to the fulfilment or waiver (as the case may be) of certain condition precedent ("Conditions Precedent") which fulfilment dates have been extended as follows: 1.2.1 The registration of the properties to be acquired by Belper in the name of Belper by the Registrar of Deeds at Cape Town by 29 July 2022; 1.2.2 All regulatory approvals which may be required are obtained by 31 August 2022; and 1.2.3 Rex subscribes for 51% of the entire issued share capital of Belper by 31 August 2022. Further information will be released on SENS as soon as the Conditions Precedent are fulfilled or waived, as the case may be. 17 May 2022 Sponsor Java Capital Date: 17-05-2022 05:30:00 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.