Results of the Odd-lot Offer 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 ODD-LOT OFFER 1. Introduction 1.1. Shareholders are referred to the circular distributed to shareholders on Monday, 29 January 2024 ("Circular"), containing the details of the odd-lot offer to all shareholders holding less than 100 (one hundred) ordinary shares in the Company ("Odd-lot Offer") and to the finalisation announcement released on Tuesday, 5 March 2024, which advised shareholders of the Odd-Lot Offer price and confirmed that the Odd-lot Offer had become unconditional and that the Company would accordingly proceed with the implementation of the Odd-lot Offer. 1.2. Unless otherwise defined herein, capitalised words and terms contained in this announcement shall bear the meanings ascribed thereto in the Circular. 2. Results of the Odd-lot Offer 2.1. Shareholders are hereby advised that the Odd-lot Offer closed at 12:00 on Friday, 22 March 2024 and the results thereof are as follows: Number of Number of Number of Total number Adcorp Shares Adcorp Shares Adcorp Shares of Adcorp retained by sold by sold by default¹ Shares election election repurchased by the Company pursuant to the Odd-lot Offer Certificated - - 7 405 7 405 Dematerialised 4 938 52 004 14 292 66 296 Total 4 938 52 004 21 697 73 701 Note: 1. In terms of the Odd-lot Offer, Odd-lot Holders who did not make an election were automatically deemed to have agreed to dispose of their Odd-lot Holdings to Adcorp and to receive the Odd-lot Consideration in respect thereof. 2.2. In terms of the Odd-lot Offer, Adcorp repurchased a total of 73 701 Adcorp Shares, representing 0.07% of the total issued ordinary share capital of Adcorp, from 6 955 Odd-lot Holders for a total Odd-lot Consideration of R295 797.84. 2.3. The Adcorp Shares repurchased by the Company in terms of the Odd-lot Offer will be cancelled and delisted on or about Thursday, 28 March 2024, and accordingly, the total issued ordinary share capital of Adcorp will be reduced from 109 954 675 to 109 880 974 Adcorp Shares. 3. Salient Dates and Times Shareholders are reminded of the following remaining Salient Dates and Times in relation to the Odd- lot Offer: 2024 Payment of the Odd-lot Consideration to Certificated Odd-lot Holders who Monday, 25 March have accepted the Odd-lot Offer or who have made no election Dematerialised Odd-lot Holders who have accepted the Odd-lot Offer or Monday, 25 March who have made no election will have their accounts at their CSDP or Broker credited with the Odd-lot Consideration Results of the Odd-lot Offer published in the South African press on or Tuesday, 26 March about Delisting and cancellation of Adcorp Shares repurchased in terms of the Thursday, 28 March Odd-lot Offer on or about Johannesburg 25 March 2024 Corporate Advisor and Sponsor Valeo Capital (Pty) Limited Date: 25-03-2024 03:56:00 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.