DENEB INVESTMENTS LIMITED - Acceptance of Options Granted and Exercise of Options by Directors in Terms of the Deneb Investments Share Scheme

Acceptance of Options Granted and Exercise of Options by Directors in Terms of the Deneb Investments Share Scheme

DENEB INVESTMENTS LIMITED
Registration number: 2013/091290/06
(Incorporated in the Republic of South Africa)
JSE share code: DNB
ISIN: ZAE000197398
("Deneb" or the "Company")


ACCEPTANCE OF OPTIONS GRANTED AND EXERCISE OF OPTIONS BY DIRECTORS
IN TERMS OF THE DENEB INVESTMENTS SHARE SCHEME


ACCEPTANCE OF OPTIONS GRANTED

In compliance with the JSE Limited Listings Requirements, the following information is
disclosed in respect of options accepted in terms of the Deneb Investments Employee Share
Scheme (2023):

1.
 NAME OF DIRECTOR                                S A Queen
 COMPANY OF WHICH A DIRECTOR                     Deneb
 STATUS: EXECUTIVE/NON-EXECUTIVE                 Executive
 TYPE OF SECURITIES                              Options to subscribe for ordinary shares
 CLASS OF SECURITIES                             Ordinary
 DATE OF SHARE OPTION ACCEPTANCE                 24 June 2026
 OPTION STRIKE PRICE (CENTS)                     238
 NUMBER OF OPTIONS ALLOCATED                     2,100,875
 TOTAL RAND VALUE OF OPTIONS                     R5,000,082.50
 VESTING DATES OF OPTIONS                        The options will vest in 3 tranches, on the
                                                 following dates:
                                                 30% from 24 June 2028
                                                 30% from 24 June 2029
                                                 40% from 24 June 2030
 PERIOD OF EXERCISE                              5 years from grant of options
 NATURE AND EXTENT OF INTEREST IN                Direct, beneficial
 DEALING
 NATURE OF DEALING                               Acceptance of options to subscribe for
                                                 ordinary shares in terms of a share
                                                 incentive scheme (off-market dealing )
 CLEARANCE OBTAINED                              Yes

2.
 NAME OF DIRECTOR                                G D T Wege
 COMPANY OF WHICH A DIRECTOR                     Deneb
 STATUS: EXECUTIVE/NON-EXECUTIVE                 Executive
 TYPE OF SECURITIES                              Options to subscribe for ordinary shares
 CLASS OF SECURITIES                             Ordinary
DATE OF SHARE OPTION ACCEPTANCE                  24 June 2026
OPTION STRIKE PRICE (CENTS)                      238
NUMBER OF OPTIONS ALLOCATED                      934,577
TOTAL RAND VALUE OF OPTIONS                      R2,224,293.26
VESTING DATES OF OPTIONS                         The options will vest in 3 tranches, on the
                                                 following dates:
                                                 30% from 24 June 2028
                                                 30% from 24 June 2029
                                                 40% from 24 June 2030
PERIOD OF EXERCISE                               5 years from grant of options
NATURE AND EXTENT OF INTEREST IN                 Direct, beneficial
DEALING
NATURE OF DEALING                                Acceptance of options to subscribe for
                                                 ordinary shares in terms of a share
                                                 incentive scheme (off-market dealing)
CLEARANCE OBTAINED                               Yes

3.
 NAME OF DIRECTOR                                D Levin
COMPANY OF WHICH A DIRECTOR                      Sargas (Pty) Ltd (a major subsidiary of the
                                                 Company)
STATUS: EXECUTIVE/NON-EXECUTIVE                  Executive
TYPE OF SECURITIES                               Options to subscribe for ordinary shares
CLASS OF SECURITIES                              Ordinary
DATE OF SHARE OPTION ACCEPTANCE                  24 June 2026
OPTION STRIKE PRICE (CENTS)                      238
NUMBER OF OPTIONS ALLOCATED                      143,496
TOTAL RAND VALUE OF OPTIONS                      R341,520.48
VESTING DATES OF OPTIONS                         The options will vest in 3 tranches, on the
                                                 following dates:
                                                 30% from 24 June 2028
                                                 30% from 24 June 2029
                                                 40% from 24 June 2030
PERIOD OF EXERCISE                               5 years from grant of options
NATURE AND EXTENT OF INTEREST IN                 Direct, beneficial
DEALING
NATURE OF DEALING                                Acceptance of options to subscribe for
                                                 ordinary shares in terms of a share
                                                 incentive scheme (off-market dealing)
CLEARANCE OBTAINED                               Yes
EXERCISE OF OPTIONS

In compliance with the JSE Limited Listings Requirements, the following information regarding
the exercise of options and the related settlement thereof in terms of the Deneb Investments
Employee Share Scheme (2017) is disclosed:

1.
 NAME OF DIRECTOR                                S A Queen
 COMPANY OF WHICH A DIRECTOR                     Deneb Investments Limited
 STATUS: EXECUTIVE/NON-EXECUTIVE                 Executive
 TYPE OF SECURITIES                              Ordinary shares
 NATURE OF DEALING                               Exercise of options in terms of the Deneb
                                                 Investments Employee Share Scheme
                                                 (2017) and related net-equity settlement by
                                                 way of the award of 1,075,785 ordinary
                                                 shares to the director (off-market dealing)
 DATE OF EXERCISE OF OPTIONS                     24 June 2026
 VESTING DATE OF OPTIONS EXERCISED               10% vested on 28 June 2022
                                                 20% vested on 28 June 2023
                                                 30% vested on 28 June 2024
                                                 40% vested on 28 June 2025
 PERIOD OF EXERCISE                              Participants must exercise options within
                                                 5 years from the grant date
 OPTION STRIKE PRICE                             111 cents
 NUMBER OF OPTIONS EXERCISED                     1,846,187
 TOTAL RAND VALUE OF NET-EQUITY                  R2,850,830 (based on the 24 June 2026
 SETTLED SECURITIES                              closing share price)
 NATURE AND EXTENT OF INTEREST IN                Direct, beneficial
 THE DEALING

2.
 NAME OF DIRECTOR                                G D T Wege
 COMPANY OF WHICH A DIRECTOR                     Deneb Investments Limited
 STATUS: EXECUTIVE/NON-EXECUTIVE                 Executive
 TYPE OF SECURITIES                              Ordinary shares
 NATURE OF DEALING                               Exercise of options in terms of the Deneb
                                                 Investments Employee Share Scheme
                                                 (2017) and related net-equity settlement by
                                                 way of the award of 577,968 ordinary
                                                 shares to the director (off-market dealing)
 DATE OF EXERCISE OF OPTIONS                     24 June 2026
 VESTING DATE OF OPTIONS EXERCISED               10% vested on 28 June 2022
                                                 20% vested on 28 June 2023
                                                 30% vested on 28 June 2024
                                                 40% vested on 28 June 2025
 PERIOD OF EXERCISE                              Participants must exercise options within
                                                 5 years from the grant date
 OPTION STRIKE PRICE                             111 cents
 NUMBER OF OPTIONS EXERCISED                     991,868
 TOTAL RAND VALUE OF NET-EQUITY                  R1,531,615 (based on the 24 June 2026
 SETTLED SECURITIES                              closing share price)
 NATURE AND EXTENT OF INTEREST IN                Direct, beneficial
 THE DEALING

3.
 NAME OF DIRECTOR                                D Levin
 COMPANY OF WHICH A DIRECTOR                     Sargas (Pty) Ltd a wholly owned subsidiary
                                                 of Deneb Investments Limited
 STATUS: EXECUTIVE/NON-EXECUTIVE                 Executive
 TYPE OF SECURITIES                              Ordinary shares
 NATURE OF DEALING                               Exercise of options in terms of the Deneb
                                                 Investments Employee Share Scheme
                                                 (2017) and related net-equity settlement by
                                                 way of the award of 39,594 ordinary shares
                                                 to the director (off-market dealing)
 DATE OF EXERCISE OF OPTIONS                     24 June 2026
 VESTING DATE OF OPTIONS EXERCISED               10% vested on 28 June 2022
                                                 20% vested on 28 June 2023
                                                 30% vested on 28 June 2024
                                                 40% vested on 28 June 2025
 PERIOD OF EXERCISE                              Participants must exercise options within
                                                 5 years from the grant date
 OPTION STRIKE PRICE                             111 cents
 NUMBER OF OPTIONS EXERCISED                     67,949
 TOTAL RAND VALUE OF NET-EQUITY                  R104,924 (based on the 24 June 2026
 SETTLED SECURITIES                              closing share price)
 NATURE AND EXTENT OF INTEREST IN                Direct, beneficial
 THE DEALING

Clearance for the above was obtained in terms of the JSE Limited Listings Requirements.

Cape Town
25 June 2026

Sponsor
PSG Capital

Date: 25-06-2026 02:00:00
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