SOUTHERN SUN LIMITED - Exercise of Share Appreciation Rights and Allotment of Southern Sun Ordinary Shares

Exercise of Share Appreciation Rights and Allotment of Southern Sun Ordinary Shares

Southern Sun Limited
Incorporated in the Republic of South Africa
Registration number 2002/006356/06
Share Code: SSU ISIN: ZAE000272522
("Southern Sun" or "the Company")

EXERCISE OF SHARE APPRECIATION RIGHTS AND ALLOTMENT OF SOUTHERN SUN ORDINARY SHARES

In compliance with Paragraphs 3.63 of the JSE Limited Listings Requirements, shareholders are advised that per
Southern Sun's Share Appreciation Rights Plan, Share Appreciation Rights ("SARs") have vested and were
exercised by the following director of the Company, to whom Southern Sun ordinary shares ("SSUs") have been
issued. The value of the SSUs issued is equal to the value of the appreciation of the awarded SARs over the
vesting period (net of tax).

Director                                Laurelle McDonald
Designation                             Chief Financial Officer
Nature of transaction                   Off market exercise of SARs and allotment of SSUs
Nature of interest                      Direct, beneficial
Class of shares                         Ordinary SSU shares
Exercise date                           7 February 2024
Allotment date                          23 February 2024
Number of SSU                           21 936
Exercise price                          R5.2627
Transaction value                       R115 442.59
Clearance obtained                      Yes


23 February 2024

Sponsor
Investec Bank Limited

Date: 23-02-2024 04:28:00
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