Exercise and Related Net-Equity Settlement of Share Options in Terms of the Zeder Group Share Incentive Trust ZEDER INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) Registration number: 2006/019240/06 Share code: ZED ISIN: ZAE000088431 LEI code: 37890022AF5FD117D649 ("Zeder" or "the Company") EXERCISE AND RELATED NET-EQUITY SETTLEMENT OF SHARE OPTIONS IN TERMS OF THE ZEDER GROUP SHARE INCENTIVE TRUST (“SIT”) Upon the exercise of the share options referred to below, Zeder elected to settle same on a net-equity basis through the award of shares as detailed below: NAME OF DIRECTOR JH le Roux COMPANY OF WHICH A DIRECTOR Zeder Investments Limited STATUS: EXECUTIVE/NON-EXECUTIVE Executive TYPE AND CLASS OF SECURITIES Options in relation to ordinary shares OPTION STRIKE PRICE R0.17 (1) R1.66 (2) R1.23 (3) R0.98 (4) R(0.41) (5) R(0.61) (6) R(0.49) (7) NUMBER OF OPTIONS EXERCISED 93 279 (1) 446 760 (2) 289 941 (3) 289 941 (4) 875 863 (5) 875 863 (6) 548 234 (7) EXERCISE DATE OF OPTIONS After close of business on 30 August 2022 (1) – (7) PERIOD OF EXERCISE The 180-day exercise period from the vesting date of 28 February 2021 and 28 February 2022, respectively, was previously extended to 31 August 2022, in terms of the SIT deed as the Company had been in a prolonged prohibited period, as defined under the JSE Limited Listings Requirements, and in the discretion of Zeder’s Remuneration Committee (1) – (7) NAME OF ASSOCIATE Bakenskraal Investments Proprietary Limited (1) – (7) RELATIONSHIP WITH DIRECTOR Director is a director of the associate, as well as a trustee and beneficiary of the shareholder of the associate NATURE OF TRANSACTION Exercise of share options by the director at the last traded share price of R1.80 per share on 30 August 2022, and related after-tax net-equity settlement by way of the award of 1 808 381 shares to the director, with such shares to be transferred by the director to his associate for an amount equal to the R1.80 per share (Off-market transaction) NATURE AND EXTENT OF INTEREST IN Indirect, beneficial THE TRANSACTION Clearance for the above was obtained in accordance with paragraph 3.66 of the JSE Limited Listings Requirements. During the current financial year, the above strike prices were adjusted pursuant to Zeder’s unbundling, in April 2022, of its entire Kaap Agri Ltd shareholding and Zeder’s payment of a special dividend in May 2022, such adjustment having occurred in terms of clause 26 of the SIT deed, in accordance with the provisions of the scheme. Stellenbosch 31 August 2022 Sponsor Independent Joint Sponsor PSG Capital Tamela Holdings Date: 31-08-2022 05:35:00 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.