SOUTHERN SUN LIMITED - Grant and Acceptance of Share Appreciation Rights by Directors

Grant and Acceptance of Share Appreciation Rights by Directors

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”)


GRANT AND ACCEPTANCE OF SHARE APPRECIATION RIGHTS BY DIRECTORS


In compliance with Paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information
is disclosed in relation to the granting and acceptance of Share Appreciation Rights (“SARs”) in terms of the
Southern Sun Share Appreciation Rights Plan by directors of the Company and its major subsidiaries.

 Director                                Marcel Von Aulock
 Designation                             Chief Executive Officer
 Company                                 Southern Sun Limited
 Nature of transaction                   Grant and acceptance of SARs, off market
 Nature of interest                      Direct, beneficial
 Class of shares                         Ordinary SSU shares
 Date of grant of SARs                   1 April 2023
 Date of acceptance                      21 September 2023
 Clearance to deal                       Yes
       Number of      SARs strike price    Value of transaction     Vesting date of SARs        Expiry Date of
            SARs                                                                                          SARs
         888 435                R4.5023              R4 000 000               31/03/2026            31/03/2027

 Director                                Laurelle McDonald
 Designation                             Chief Financial Officer
 Company                                 Southern Sun Limited
 Nature of transaction                   Grant and acceptance of SARs, off market
 Nature of interest                      Direct, beneficial
 Class of shares                         Ordinary SSU shares
 Date of grant of SARs                   1 April 2023
 Date of acceptance                      21 September 2023
 Clearance to deal                       Yes
      Number of       SARs strike price    Value of transaction     Vesting date of SARs        Expiry Date of
            SARs                                                                                          SARs
       1 332 653                R4.5023              R6 000 000               31/03/2026            31/03/2027
 Director                                Lindelwa Isabelle
 Designation                             Director
 Company                                 Southern Sun Hotel Interests Pty Ltd
 Nature of transaction                   Grant and acceptance of SARs, off market
 Nature of interest                      Direct, beneficial
 Class of shares                         Ordinary SSU shares
 Date of grant of SARs                   1 April 2023
 Date of acceptance                      20 September 2023
 Clearance to deal                       Yes
       Number of      SARs strike price    Value of transaction     Vesting date of SARs        Expiry Date of
            SARs                                                                                          SARs
         555 272                R4.5023              R2 500 000               31/03/2026            31/03/2027

 Director                                Jaco Boshoff
 Designation                             Director
 Company                                 Southern Sun Hotel Interests Pty Ltd
 Nature of transaction                   Grant and acceptance of SARs, off market
 Nature of interest                      Direct, beneficial
 Class of shares                         Ordinary SSU shares
 Date of grant of SARs                   1 April 2023
 Date of acceptance                      20 September 2023
 Clearance to deal                       Yes
       Number of      SARs strike price    Value of transaction     Vesting date of SARs        Expiry Date of
            SARs                                                                                          SARs
         555 272                R4.5023              R2 500 000               31/03/2026            31/03/2027


22 September 2023

Sponsor
Investec Bank Limited

Date: 22-09-2023 12:56:00
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