MAHUBE INFRASTRUCTURE LIMITED - Further Cautionary Announcement

Further Cautionary Announcement

Mahube Infrastructure Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2015/115237/06)
ISIN: ZAE000290763
JSE code: MHB
("Mahube" or the "Company")

FURTHER CAUTIONARY ANNOUNCEMENT

Shareholders are referred to the detailed cautionary announcement published on SENS on 26 August
2025 ("Cautionary Announcement") and are advised that engagement between the Independent
Board of the Company and the Offeror relating to the Proposed Transaction is continuing. Unless
otherwise defined herein, the capitalised terms used in this announcement bear the same meaning
as those defined in the Cautionary Announcement.

The Independent Board accepts responsibility for the information contained in this announcement as
it pertains to the Company. To the best of the Independent Board's knowledge and belief, the
information contained in this announcement is true and nothing has been omitted which is likely to
affect the importance of the information included.

Shareholders will be provided with further details in relation to the Proposed Transaction and related
parameters in due course, if and when a firm intention to make an offer in respect of the Proposed
Transaction is received by the Company from the Offeror.

Shareholders are advised to continue to exercise caution when dealing in the Company's Shares until
a further announcement in this regard is made.

Sandton
9 October 2025

Corporate Advisor and Sponsor to Mahube                          Legal Advisor to Mahube
Questco Corporate Advisory Proprietary Limited                   Werksmans Attorneys




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Date: 09-10-2025 07:30:00
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