Disclosure of significant holding of RFG ordinary shares

RFG HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2012/074392/06)
ISIN: ZAE000191979
Share Code: RFG
("RFG" or "the Company")

DISCLOSURE OF SIGNIFICANT HOLDING OF RFG ORDINARY SHARES

In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008 as amended ("the Companies
Act"), regulation 121(2)(b) of the Companies Regulations, 2011 and paragraph 3.83(b) of the JSE Limited
Listings Requirements, shareholders are advised that PSG Asset Management (Pty) Ltd ("PSG") has notified
the Company that accounts under its management have decreased its holding in the Company such that PSG
now holds 3.69% of the issued ordinary shares in the Company.

As required in terms of section 122(3)(a) of the Companies Act, the Company has filed the required notice with
the Takeover Regulation Panel.

The board of directors of RFG accepts responsibility for the information contained in this announcement as it
relates to the Company and confirms that, to the best of its knowledge and belief, such information relating to
RFG is true and that this announcement does not omit anything likely to affect the importance of such
information.

Groot Drakenstein
22 October 2025

Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

Date: 22-10-2025 03:03:00

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