Dealings in securities by an associate of the Chairman

Burstone Group Limited
(Incorporated in the Republic of South Africa)
(Registration Number 2008/011366/06)
Approved as a REIT by the JSE
Share code: BTN
Bond code: BTN
ISIN: ZAE000180915
("Burstone")


DEALINGS IN SECURITIES BY AN ASSOCIATE OF THE CHAIRMAN


Shareholders are hereby advised that Temo Capital Proprietary Limited ("Temo"), a family vehicle and
accordingly an associate of Moss Ngoasheng, the Independent Non-Executive Chairman of Burstone, has
on 30 September 2025 entered into a Binding Term Sheet with a shareholder of Burstone in terms of which
Temo will, subject to the fulfilment of certain conditions precedent, acquire ordinary shares in Burstone from
such shareholder ("Share Acquisition"). Notwithstanding signature of the Binding Term Sheet on 30
September 2025, no trading shall take place whilst Burstone remains in its interim closed period.


In compliance with the Listings Requirements of the JSE Limited ("JSE") and the JSE Debt and Specialist
Securities, the following information is disclosed:


 NAME OF DIRECTOR                                       Moss Ngoasheng
 NAME OF ASSOCIATE                                      Temo Capital Proprietary Limited
 DIRECTOR'S RELATIONSHIP WITH ASSOCIATE                 Temo is a family vehicle of Mr Ngoasheng
 COMPANY OF WHICH HE IS A DIRECTOR                      Burstone Group Limited
 POSITION HELD                                          Independent Non-Executive Chairman
 CLASS OF SECURITIES                                    Ordinary shares
 DATE OF SIGNATURE OF TERM SHEET                        30 September 2025
 NUMBER OF ORDINARY SHARES                              55,555,555, representing 6.90% of the total issued
                                                        share capital of Burstone Group Limited
 BENEFICIAL INTEREST POST ACQUISITION                   7.66%
 PRICE PER ORDINARY SHARE                               R9.00
 VALUE OF TRANSACTION                                   R499,999,999.00
 NATURE OF TRANSACTION                                  Off-market acquisition of ordinary shares, subject to
                                                        the fulfilment of certain conditions precedent
 NATURE AND EXTENT OF INTEREST                          Indirect beneficial
 NECESSARY APPROVAL OBTAINED                            Yes


2 October 2025
Johannesburg


Debt and Equity Sponsor
Investec Bank Limited

Date: 02-10-2025 02:00:00
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