BARLOWORLD LIMITED - Barloworld to buy back up to 10% of its issued ordinary share capital through a repurchase program

Barloworld to buy back up to 10% of its issued ordinary share capital through a repurchase program

Barloworld Limited
(Incorporated in the Republic of South Africa)
(Registration number 1918/000095/06)
(Income Tax Registration number 9000/051/71/5)
(Share code: BAW)
(JSE ISIN: ZAE000026639)
(Share code: BAWP)
(JSE ISIN: ZAE000026647)
(Bond issuer code: BIBAW)
("Barloworld” or the “company" or the “group”)

VOLUNTARY ANNOUNCEMENT: BARLOWORLD TO BUY BACK UP TO 10% OF ITS
ISSUED ORDINARY SHARE CAPITAL THROUGH A REPURCHASE PROGRAM

The Board is responsible for capital allocation and continuously monitors opportunities to
enhance shareholder value through responsible capital allocation. Capital allocation priorities
include the paydown of debt, returning capital to shareholders either through dividends or
share buybacks, and acquiring businesses in line with the group’s strategy.

The Board has considered the progress on the various portfolio changes currently underway,
the outlook for the Russian business and the stated objectives of first addressing the portfolio
changes prior to embarking on acquisitive growth. Shareholders are reminded of the stated
growth verticals being Consumer Industries, and Industrial Equipment and Services.

The recent fall in the group’s share price has created an opportunity to deploy capital through
a structured share buyback program. The Board considers the current decline in the share
price well below the group’s intrinsic value and has authorised a formal share buyback of up
to 10% of the ordinary shares in issue, on the open market, in line with the general authority
granted by shareholders at the last annual general meeting.

Sandton
26 May 2022

Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Enquiries:
Nwabisa Piki
Group Investor Relations
Tel: +27 64 880 6872 E-mail: nwabisap@barloworld.com

Date: 26-05-2022 09:26:00
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