Cautionary Announcement – Terms Of Settlement Agreement AYO TECHNOLOGY SOLUTIONS LIMITED (Incorporated in the Republic of South Africa) Registration number: 1996/014461/06 JSE share code: AYO ISIN: ZAE000252441 (“the Company" or “AYO”) CAUTIONARY ANNOUNCEMENT – TERMS OF SETTLEMENT AGREEMENT Shareholders are referred to the announcement released on SENS on 3 April 2023 wherein (and using the terms defined therein unless otherwise specified herein) reference was made to certain details contained in the settlement agreement entered into between the Company, the PIC and the GEPF (“the Settlement Agreement”) in response to the Daily Maverick Article (“Voluntary Announcement”). Subsequent to the publication of the Voluntary Announcement, the Company was directed by the JSE Limited (“JSE”) to issue a supplementary announcement containing the requisite disclosures and approvals that would ordinarily be required in terms of the relevant corporate actions referred to in the Voluntary Announcement in accordance with the JSE Listings Requirements (“Supplementary Announcement”). Shareholders are further advised that the Company will, in consultation with its Sponsors, continue to engage with the JSE on the implementation of certain terms of the Settlement Agreement in order to comply with the JSE Listings Requirements. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until the imminent publication of the Supplementary Announcement. Cape Town 4 April 2023 Sponsor Vunani Sponsors Joint Sponsor Merchantec Capital Date: 04-04-2023 01:30:00 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.