Classification in the General Segment of the JSE Main Board AFRICAN AND OVERSEAS ENTERPRISES LIMITED (Incorporated in the Republic of South Africa) (Registration number 1947/027461/06) JSE share code: AOO ISIN: ZAE000000485 JSE share code: AON ISIN: ZAE000009718 JSE share code: AOVP ISIN: ZAE000000493 ("AOE" or "the company") CLASSIFICATION IN THE GENERAL SEGMENT OF THE JSE MAIN BOARD The board of directors of AOE is pleased to announce that the company's application to transfer its listing to the General Segment of the Main Board of the JSE Limited ("JSE") has been approved by the JSE with effect from Monday, 2 December 2024. Consequently, AOE will now be classified as being a primary issuer listed in the General Segment of the JSE main board from such date. In terms of paragraph 4.62 of the JSE Listings Requirements, classification in the General Segment will allow the company to apply the following: - An automatic annual rolling general authority to issue shares for cash without shareholders' approval, representing up to 10% of the issuer's issued share capital; - Shareholders' approval is not required for a general repurchase authority; - Shareholders' approval is not required for a specific repurchase authority, subject to it not involving related parties and not exceeding 20%; - Fairness opinions are not required for related party corporate actions and transactions, with more focus being placed on governance arrangements and transparency and the exclusion from voting for related parties and associates; - Issuers are only required to prepare annual reports within four months, with no obligation to release results announcements within three months of the issuer's financial year end; - The preparation of pro forma financial information is not required for transaction/corporate actions, but rather the inclusion of a detailed narrative on the impact of the transaction/corporate action on the financial statements; - The category 1 percentage ratio is 50% or more, which increases the category 2 threshold accordingly; - Shareholders' approval and a circular is not required for transactions by a subsidiary that is listed on the JSE; - The subject of a category 1 transaction requires two years audited historical financial information; - The small-related party transaction percentage ratio is 3% and less than or equal to 10%; - A material shareholder for related party classification purposes is 20%; and - A pre-listing statement is triggered for share issuances exceeding 100% over a three-month period. The provisions above have the specified different application under the General Segment and the remainder of the provisions of the JSE Listings Requirements continue to apply to the company. All current authorities as approved by shareholders at the company's 2024 annual general meeting will remain in force until the next annual general meeting. 29 November 2024 Sponsor Java Capital Date: 29-11-2024 05:00:00 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.