ADCORP HOLDINGS LIMITED - Dealings by the Adcorp Long-Term Incentive (LTI) Plan

Dealings by the Adcorp Long-Term Incentive (“LTI”) Plan

ADCORP HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1974/001804/06
Share code: ADR
ISIN: ZAE000000139
("Adcorp" or "the Company")


DEALINGS BY THE ADCORP LONG-TERM INCENTIVE ("LTI") PLAN


In terms of paragraph 3.96 of the JSE Limited Listings Requirements ("Listings
Requirements"), shareholders are hereby advised that the third-party brokerage mandated
by Adcorp has notified Adcorp of the following on-market purchases of shares in order to settle
forfeitable share awards made by Adcorp to participants in terms of the Adcorp LTI Plan:

 DATE OF TRANSACTIONS                          11 November 2025 (1)
                                               14 November 2025 (2)
                                               17 November 2025 (3)
                                               19 November 2025 (4)
                                               20 November 2025 (5)
                                               24 November 2025 (6)
                                               25 November 2025 (7)
 
 NATURE OF TRANSACTIONS                        Purchase of shares (on-market transactions) (1 – 7)
                                              
 NUMBER OF SECURITIES                          1 000 (1)
 TRANSACTED                                    5 603 (2)
                                               2 115 (3)
                                               12 (4)
                                               1 827 (5)
                                               8 (6)
                                               21 816 (7)
 
 PRICE PER SECURITY (CENTS)                    700 (1)
                                               700 (2)
                                               710 (3)
                                               700 (4)
                                               698 (5)
                                               700 (6)
                                               High 690 (7)
                                               Low 689 (7)
                                               VWAP 689.82 (7)
 
 CLASS OF SECURITIES                           Ordinary Shares (1-7)
 
 TOTAL RAND VALUE OF SECURITIES                R7 000.00 (1)
                                               R39 221.00 (2)
                                               R15 016.50 (3)
                                               R84.00 (4)
                                               R12 752.46 (5)
                                               R56.00 (6)
                                               R150 491.24 (7)


To the extent required, clearance for the above was obtained in terms of paragraph 3.66 of
the Listings Requirements.


Johannesburg
28 November 2025

Sponsor
Valeo Capital (Pty) Ltd

Date: 28-11-2025 04:45:00
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