AFROCENTRIC INVESTMENT CORPORATION LIMITED - Outcome of Bonitas request for proposal

Outcome of Bonitas request for proposal

AfroCentric Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1988/000570/06)
JSE Code: ACT ISIN: ZAE000078416
("the Company" or "AfroCentric" or "the Group")


OUTCOME OF BONITAS REQUEST FOR PROPOSAL


Shareholders are advised of the following developments regarding the Group's administration
and managed care services contracts with Bonitas Medical Aid Fund (registration number 1512)
("Bonitas").

Background

Bonitas has announced the outcome of its Request for Proposal ("RFP") process for the
provision of administration and managed care services for all its options, excluding the Income
Based Option (BonCap), awarding these contracts to alternative service providers.

The current contracts, held by Medscheme Holdings Proprietary Limited ("Medscheme") and
other entities within the Group, are scheduled to expire on 31 May 2026.

Legal Proceedings

On 15 December 2025, Medscheme filed an urgent application with the High Court, which is set
to be heard on 3 March 2026. In this application, Medscheme is seeking, among other relief:

   •   An order directing that, pending the final outcome of the forensic investigation by the
       Council for Medical Schemes ("CMS") in terms of section 44 of the Medical Schemes Act,
       No. 131 of 1998, Bonitas suspend any ongoing tender procurement processes relating
       to administration and managed care services under the RFPs; and

   •   An order interdicting Bonitas from taking further steps to negotiate, finalise, or implement
       any RFP award pending the final determination of the application.

The Group's Position

The Group notes that Bonitas has proceeded with the RFP award notwithstanding the pending
court proceedings, in which Medscheme is seeking relief that directly relates to this process.

The Group will await the outcome of the court process and will provide shareholders with further
updates as appropriate.



Johannesburg
29 January 2026

JSE Sponsor to AfroCentric
Questco Corporate Advisory Proprietary Limited

Date: 29-01-2026 05:01:00
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