CURRO HOLDINGS LIMITED - Refinancing of Debt Facilities

Refinancing of Debt Facilities

CURRO HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1998/025801/06)
JSE Share Code: COH
ISIN: ZAE000156253
LEI: 378900E237CB40F0BF96
(“Curro” or “the Company”)


REFINANCING OF DEBT FACILITIES


On 13 December 2022, Curro successfully completed the refinancing of its existing debt
facilities, through the conclusion of a number of new secured four and five year term loan
facilities and a three year revolving credit facility (“New Facilities”) for an aggregate amount
of R3.3 billion, with the following respective financial institutions:

-   The Standard Bank of South Africa Limited (acting through its Corporate and Investment
    Banking Division);
-   FirstRand Bank Limited (acting through its Rand Merchant Bank division);
-   Sanlam Life Insurance Limited (acting through its Sanlam Specialised Finance division
    and its Sanlam Investment Management division) and Sanlam Investment Management
    Proprietary Limited (acting on behalf of its third party clients);
-   Investec Bank Limited (acting through its Investment Banking Division: Corporate
    Solutions); and
-   Absa Bank Limited (acting through its Corporate and Investment Banking division),

    (collectively hereinafter referred to as the “Lenders”).

Curro would like to thank the Lenders for supporting its vision of making independent school
education accessible to more learners throughout Southern Africa. We believe that quality
education is the cornerstone in developing exceptional leaders and responsible citizens -
citizens who will positively impact the economy, environment and society.

Curro is committed to reducing its environmental impact, improving social outcomes, and
building better governance structures and is therefore pleased to announce that it intends to
introduce a sustainability overlay to the New Facilities in 2023, linking the interest rate margins
on the New Facilities to Curro’s performance against key sustainability performance indicators
and targets to be agreed between Curro and the Lenders.

PSG Capital acted as the lead arranger and transaction adviser to Curro for the transaction.

Durbanville

14 December 2022

      Sponsor and Transaction Adviser                             Legal Adviser
               PSG Capital                                         Bowmans

Date: 14-12-2022 09:00:00
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