Dealing by an associate 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”) DISCLOSURE OF ACQUISITIONS AND A DISPOSAL OF SECURITIES In accordance with section 122(3)(b) of the Companies Act, 71 of 2008 (the “Companies Act”), regulation 121(2)(b) of the Companies Act Regulations 2011, and paragraph 3.83(b) of the JSE Limited Listings Requirements, shareholders are advised that the Company has been notified that: - the following entities have acquired beneficial interests in the securities of AfroCentric : - RQ Investments Proprietary Limited (“RQI”). RQI now holds a 9.9% beneficial interest in the total issued share capital of the Company; - WHB Holdings Proprietary Limited (“WHB”). WHB now holds a 5.10% beneficial interest in the total issued share capital of the Company; and - XTR Investments Capital Proprietary Limited (“XTR”). XTR now holds a 5.10% beneficial interest in the total issued share capital of the Company; and - WAD Holdings Proprietary Limited (“WAD”) has disposed of a beneficial interest in the securities of AfroCentric, such that WAD now holds zero beneficial interest in the total issued share capital of the Company. As required in terms of section 122(3)(a) of the Companies Act, the Company has filed the required notices with the Takeover Regulation Panel. The board of directors of AfroCentric (“the Board”) accepts responsibility for the information contained in this announcement as it pertains to AfroCentric. To the best of the 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 such information Johannesburg 25 May 2022 JSE Sponsor to AfroCentric Questco Corporate Advisory Proprietary Limited Date: 25-05-2022 03:35:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.