ZEDER INVESTMENTS LIMITED - Exercise and Related Net Cash Settlement of Share Options in Terms of the Zeder Group Share Incentive Trust

Exercise and Related Net Cash Settlement of Share Options in Terms of the Zeder Group Share Incentive Trust

 ZEDER INVESTMENTS LIMITED
 (Incorporated in the Republic of South Africa)
 Registration number: 2006/019240/06
 Share code: ZED
 ISIN: ZAE000088431
 LEI code: 37890022AF5FD117D649
 ("Zeder" or "the Company")

EXERCISE AND RELATED NET CASH SETTLEMENT OF SHARE OPTIONS IN TERMS
OF THE ZEDER GROUP SHARE INCENTIVE TRUST ("SIT")

Upon the exercise of the share options referred to below, Zeder elected to settle same on a
net-cash basis, in order for the executive director to settle debt obligations to Zeder from the
net-after tax amount, in line with Zeder's remuneration policy.

Due to the net-cash settlement, the executive director did not receive any Zeder shares in
respect of such options exercised and accordingly, no shares were traded and there is
therefore no obligation to report same.

In the interest of transparency, the following information regarding the exercise of options is
consequently disclosed:

 NAME OF DIRECTOR                                  JH le Roux

 COMPANY OF WHICH A DIRECTOR                       Zeder Investments Limited

 STATUS: EXECUTIVE/NON-EXECUTIVE                   Executive

 TYPE AND CLASS OF SECURITIES                      Options in relation to ordinary shares

 OPTION STRIKE PRICE                               R(0.18)

 NUMBER OF OPTIONS EXERCISED                       3 750 000

 EXERCISE DATE OF OPTIONS                          After close of business on
                                                   23 January 2024

 PERIOD OF EXERCISE                                Participants have a 180-day period from
                                                   the vesting date of 18 January 2024
                                                   during which the options can be exercised

 NATURE OF TRANSACTION                             Exercise of share options by the director
                                                   at the last traded share price of R1.81 per
                                                   share on 23 January 2024, with
                                                   settlement occurring on a net cash settled
                                                   basis, in order to mainly settle debt
                                                   obligations to Zeder

 NATURE AND EXTENT OF INTEREST IN                  Direct, beneficial
 THE TRANSACTION

Clearance for the above was obtained in accordance with paragraph 3.66 of the JSE Limited
Listings Requirements.

During the current financial year, the above strike prices were adjusted pursuant to Zeder's
payment of special dividends in August 2023 and November 2023, such adjustment having
occurred in terms of clause 26 of the SIT deed, in accordance with the provisions of the
scheme.

Stellenbosch
24 January 2024


                   Sponsor                             Independent Joint Sponsor
                  PSG Capital                              Tamela Holdings

Date: 24-01-2024 02:15:00
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