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Results of the Annual General Meeting
ADCORP HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1974/001804/06
Share code: ADR
ISIN: ZAE000000139
("Adcorp" or "the Company")
RESULTS OF THE ANNUAL GENERAL MEETING
Shareholders are hereby advised that the annual general meeting of the Company was held entirely
by way of electronic participation at 10:00 today, Tuesday, 28 July 2026 ("AGM").
Shareholders are further advised that at the AGM, all of the resolutions were passed by the requisite
majorities of the Company's shareholders.
Details of the results of the voting at the AGM are as follows:
Ordinary shares ³
Resolutions Total number % of Votes for Votes Ordinary
proposed at the AGM of ordinary Ordinary resolution against shares
shares voted shares voted (%) ² resolution abstained
¹ (%) ² (%) ¹
Ordinary resolution
number 1.1: Election 86 254 963 81.57% 99.99% 0.01% 0.05%
of Alupheli Sithebe as
a non-executive
director
Ordinary resolution
number 1.2: Election 86 254 963 81.57% 99.99% 0.01% 0.05%
of Vincent Raseroka
as a non-executive
director
Ordinary resolution
number 2.1: Re- 86 254 963 81.57% 99.64% 0.36% 0.05%
election of Gloria
Serobe as a non-
executive director
Ordinary resolution
number 2.2: Re- 86 254 963 81.57% 99.99% 0.01% 0.05%
election of Melvyn
Lubega as a non-
executive director
Ordinary resolution
number 3.1: Re- 86 255 483 81.58% 99.99% 0.01% 0.05%
appointment of Tshidi
Mokgabudi to the
Audit and Risk
Committee ("ARC")
Ordinary resolution
number 3.2: Re- 86 255 483 81.58% 99.99% 0.01% 0.05%
appointment of
Herman Singh to the
ARC
Ordinary resolution
number 3.3: Re- 86 255 483 81.58% 99.99% 0.01% 0.05%
appointment of Ronel
van Dijk to the ARC
Ordinary resolution
number 3.4: Re- 86 255 483 81.58% 99.99% 0.01% 0.05%
appointment of Melvyn
Lubega to the ARC
Ordinary resolution
number 3.5: Re- 86 255 483 81.58% 99.64% 0.36% 0.05%
appointment of Robert
Radley to the ARC
Ordinary resolution
number 4.1: Re- 86 255 483 81.58% 99.99% 0.01% 0.05%
appointment of Ronel
van Dijk to the Social,
Ethics and
Sustainability
Committee
("SESCom")
Ordinary resolution
number 4.2: Re- 86 255 483 81.58% 99.99% 0.01% 0.05%
appointment of Tshidi
Mokgabudi to the
SESCom
Ordinary resolution
number 4.3: 86 255 483 81.58% 99.99% 0.01% 0.05%
Appointment of
Alupheli Sithebe to the
SESCom
Ordinary resolution
number 5: Re- 86 255 483 81.58% 99.99% 0.01% 0.05%
appointment of KPMG
Inc. as independent
external auditor
Ordinary resolution
number 6: Placing 86 255 483 81.58% 73.12% 26,.88% 0.05%
authorised but
unissued shares
under the control of
the directors
Ordinary resolution
number 7: Approval 86 255 483 81.58% 79.67% 20.33% 0.05%
of remuneration policy
Ordinary resolution
number 8: Approval 86 255 483 81.58% 98.37% 1.63% 0.05%
of remuneration
implementation report
Ordinary resolution
number 9: General 86 255 483 81.58% 98.72% 1.28% 0.05%
authority to
repurchase Company
shares
Ordinary resolution
number 10: Authority 86 255 483 81.58% 99.99% 0.01% 0.05%
to implement
resolutions
Special resolution
number 1: Approval 86 254 963 81.57% 96.31% 3.69% 0.05%
of non-executive
directors'
remuneration
Special resolution
number 2: Financial 86 255 483 81.58% 96.31% 3.69% 0.05%
assistance for
subscription and/or
purchase of securities
Special resolutio
number 3: Financial 86 255 483 81.58% 99.64% 0.36% 0.05%
assistance
Notes:
1. As a percentage of the total number of ordinary shares in issue at the date of the AGM (excluding treasury
shares and B ordinary shares).
2. As a percentage of the total number of ordinary shares voted at the AGM (excluding treasury and B ordinary
shares).
3. The total number of ordinary shares in issue as at the date of the AGM was 109 880 974 shares, of which 4
143 688 were treasury shares. Accordingly, the total votable ordinary shares were 105 737 286 ordinary
shares.
Ordinary shares and B ordinary shares ³
Resolutions Total % of total Votes for Votes against Shares
proposed at the AGM number of shares voted resolution resolution (%) abstained (%)
shares ¹ (%) ² ² ¹
voted
Ordinary resolution
number 1.1: Election 92 984 103 82.68% 99.99% 0.01% 0.04%
of Alupheli Sithebe as
a non-executive
director
Ordinary resolution
number 1.2: Election 92 984 103 82.68% 99.99% 0.01% 0.04%
of Vincent Raseroka as
a non-executive
director
Ordinary resolution
number 2.1: Re- 92 984 103 82.68% 99.67% 0.33% 0.04%
election of Gloria
Serobe as a non-
executive director
Ordinary resolution
number 2.2: Re- 92 984 103 82.68% 99.99% 0.01% 0.04%
election of Melvyn
Lubega as a non-
executive director
Ordinary resolution
number 3.1: Re- 92 984 623 82.68% 99.99% 0.01% 0.04%
appointment of Tshidi
Mokgabudi to the ARC
Ordinary resolution
number 3.2: Re- 92 984 623 82.68% 99.99% 0.01% 0.04%
appointment of Herman
Singh to the ARC
Ordinary resolution
number 3.3: Re- 92 984 623 82.68% 99.99% 0.01% 0.04%
appointment of Ronel
van Dijk to the ARC
Ordinary resolution
number 3.4: Re- 92 984 623 82.68% 99.99% 0.01% 0.04%
appointment of Melvyn
Lubega to the ARC
Ordinary resolution
number 3.5: Re- 92 984 623 82.68% 99.67% 0.33% 0.04%
appointment of Robert
Radley to the ARC
Ordinary resolution
number 4.1: Re- 92 984 623 82.68% 99.99% 0.01% 0.04%
appointment of Ronel
van Dijk to the
SESCom
Ordinary resolution
number 4.2: Re- 92 984 623 82.68% 99.99% 0.01% 0.04%
appointment of Tshidi
Mokgabudi to the
SESCom
Ordinary resolution
number 4.3: 92 984 623 82.68% 99.99% 0.01% 0.04%
Appointment of
Alupheli Sithebe to the
SESCom
Ordinary resolution
number 5: Re- 92 984 623 82.68% 99.99% 0.01% 0.04%
appointment of KPMG
Inc. as independent
external auditor
Ordinary resolution
number 6: Placing 92 984 623 82.68% 75.06% 24.94% 0.04%
authorised but
unissued shares under
the control of the
directors
Ordinary resolution
number 7: Approval of 92 984 623 82.68% 81.14% 18.86% 0.04%
remuneration policy
Ordinary resolution
number 8: Approval of 92 984 623 82.68% 98.49% 1.51% 0.04%
remuneration
implementation report
Ordinary resolution
number 9: General 92 984 623 82.68% 98.81% 1.19% 0.04%
authority to repurchase
Company shares
Ordinary resolution
number 10: Authority 92 984 623 82.68% 99.99% 0.01% 0.04%
to implement
resolutions
Special resolution
number 1: Approval of 92 984 103 82.68% 96.58% 3.42% 0.04%
non-executive
directors' remuneration
Special resolution
number 2: Financial 92 984 623 82.68% 96.58% 3.42% 0.04%
assistance for
subscription and/or
purchase of securities
Special resolution
number 3: Financial 92 984 623 82,68% 99,67% 0,33% 0,04%
assistance
Notes:
1. As a percentage of the total number of ordinary shares and B ordinary shares in issue as at the date of the
AGM (excluding treasury shares).
2. As a percentage of the total number of ordinary shares and B ordinary shares voted at the AGM (excluding
treasury shares).
3. The total number of ordinary shares and B ordinary shares in issue as at the date of the AGM was 116 610 114
shares, of which 4 143 688 were treasury shares. Accordingly, the total votable shares were 112 466 426
shares, of which 105 737 286 were ordinary shares and 6 729 140 were B ordinary shares.
No resolutions were added or amended at the AGM.
28 July 2026
Johannesburg
Sponsor
Valeo Capital (Pty) Limited
Date: 28-07-2026 02:30:00
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