CALGRO M3 HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2005/027663/06) JSE Share code: CGR ISIN: ZAE000109203 Company Alpha Code: CGRI1 LEI: 3789003B0859E9438F25 (“Calgro” or “the Company”) ACCEPTANCE OF OPTIONS AWARDED IN TERMS OF THE CALGRO SHARE INCENTIVE SCHEME In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information regarding the acceptance of options by directors of Calgro and a major subsidiary, in terms of the Calgro Share Incentive Scheme, are disclosed: NAME OF DIRECTOR Sayuri Naicker (1) Wayne Williams (2) Willem Adolph (Waldi) Joubert (3) Allistiar Langson (4) COMPANY OF WHICH A DIRECTOR Calgro M3 Holdings Limited (1-3) Calgro M3 Developments (Pty) Ltd (a major subsidiary of Calgro) (4) STATUS: EXECUTIVE/NON-EXECUTIVE Executive TYPE AND CLASS OF SECURITIES Options to acquire ordinary shares NATURE OF TRANSACTION Acceptance of an award of options to acquire ordinary shares in terms of the Calgro Share Incentive Scheme (off-market transaction) DATE OF AWARD OF OPTIONS 16 May 2023 DATE OF ACCEPTANCE OF OPTIONS 25 May 2023 OPTION STRIKE PRICE Nil cost NUMBER OF OPTIONS ACCEPTED 1 200 000 (1) 1 500 000 (2) 1 500 000 (3) 1 000 000 (4) TOTAL DEEMED RAND VALUE OF OPTIONS R3 924 000 (1) ACCEPTED R4 905 000 (2) R4 905 000 (3) R3 270 000 (4) Based on the closing share price of R3.27 on 24 May 2023 VESTING DATES OF OPTIONS The options will vest in 5 tranches of 20% each, on the following dates: 15 January 2024 15 January 2025 15 January 2026 15 January 2027 15 January 2028 PERIOD OF EXERCISE Participants have a 120 day period from the vesting date during which options can be exercised NATURE AND EXTENT OF INTEREST IN Direct, beneficial THE TRANSACTION Clearance for the above was obtained in terms of paragraph 3.66 of the JSE Limited Listings Requirements. Johannesburg 26 May 2023 Equity and Debt Sponsor PSG Capital