ARAXI LIMITED - Category 1 transaction: Fulfilment of conditions precedent and closing

Category 1 transaction: Fulfilment of conditions precedent and closing

Araxi Limited
(Previously Capital Appreciation Limited)
Incorporated in the Republic of South Africa
(Registration number 2014/253277/06)
Share code: AXX
ISIN: ZAE000208245
("Araxi" or "the Company")

CATEGORY 1 TRANSACTION: FULFILMENT OF CONDITIONS PRECEDENT AND CLOSING

Unless otherwise defined in this announcement, words and expressions contained herein shall have the same
meanings as assigned to them in the Circular released on Thursday, 9 April 2026.

Araxi Shareholders are referred to the announcement released on SENS and the Circular distributed to
Shareholders on Thursday, 9 April 2026, advising that the Proposed Acquisition is subject to the fulfilment (or
where applicable, waiver) of certain Conditions Precedent.

The Company is pleased to advise Araxi Shareholders that all Conditions Precedent, including all regulatory
approvals required under the Transaction Agreements concerning the Proposed Acquisition of Pay@ have
now been fulfilled or waived and consequently the transaction has been concluded.

28 May 2026

Johannesburg

Transaction Advisor and Transaction Sponsor: PSG Capital

Legal advisors to Araxi: Werksmans

Date: 28-05-2026 02:53:00
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