Dealing in shares - transfer of shares from an associate to a director

KAP LIMITED
(formerly traded as KAP Industrial Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 1978/000181/06)
JSE alpha code: KAP
LEI code: 3789001F51BC0045FD42
("KAP" or "the Company")

DEALING IN SHARES – TRANSFER OF SHARES FROM AN ASSOCIATE TO A DIRECTOR

Noteholders are advised that the chief financial officer of the Company, Mr Frans Olivier ("Director??), acquired
KAP shares from his associate which transfer does not affect the aggregate shareholding of the Director and his
associates in KAP.

In compliance with paragraphs 6.42 to 6.53 of the Debt Listings Requirements, details of the transfer are
disclosed in the table below:

 NAME OF DIRECTOR                        FH Olivier

 COMPANY OF WHICH A                      KAP Limited
 DIRECTOR

 STATUS: EXECUTIVE/NON-                  Executive director
 EXECUTIVE

 TYPE AND CLASS OF SECURITIES            Ordinary shares

 NATURE OF TRANSACTIONS                  (1)   Off-market transaction in terms of which the Director acquired
                                               ordinary shares from his associate, Mashoweng Investments
                                               Proprietary Limited
                                         (2)   Off-market transaction in terms of which Mashoweng
                                               Investments Proprietary Limited, an associate of the Director,
                                               sold ordinary shares to the Director

 DATE OF TRANSACTION                     24 October 2023

 NUMBER OF SECURITIES                    480 000
 TRANSACTED

 PRICE PER SECURITY (CENTS)              203 (being the market price per share at close of business on 20
                                         October 2023)

 TOTAL RAND VALUE OF                     R974 400.00
 SECURITIES TRANSACTED

 NAME OF ASSOCIATE                       Mashoweng Investments Proprietary Limited

 RELATIONSHIP WITH DIRECTOR              The Director is a director and the beneficial owner of Mashoweng
                                         Investments Proprietary Limited

 NATURE AND EXTENT OF                    (1)   Acquisition of shares by the Director: Direct beneficial
 INTEREST IN THE TRANSACTIONS            (2)   Sale of shares by associate: Indirect beneficial

Clearance for the above was obtained in terms of paragraph 6.45 of the Debt Listings Requirements.

Stellenbosch
24 October 2023

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

Date: 24-10-2023 05:00:00
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