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
(“the Company”)


GENERAL REPURCHASE OF ORDINARY SHARES


At the annual general meeting (“AGM”) of the Company held on Thursday, 29 June 2023,
shareholders, by special resolution, granted a general authority to the board of directors of the
Company (“Board”) to repurchase up to 20% of the issued ordinary share capital of the
Company, on the terms and subject to the conditions specified in the notice of AGM
(“General Authority”).

Shareholders are hereby advised that, during the period commencing on 29 June 2023 to
7 August 2023, the Company repurchased an aggregate of 4 024 601 ordinary shares,
representing 3.30% of the issued ordinary share capital of the Company as at the date on
which the General Authority was granted. The aforementioned ordinary shares were
repurchased for an aggregate value of R12 974 853.25, funded out of the Company’s
available cash resources, as follows:

 Date of                 Aggregate        Highest price      Lowest price           Aggregate
 repurchases             number of           per share          per share               value
                            shares        repurchased        repurchased
                       repurchased
 29 June 2023 to           4 024 601              R3.25               R3.20   R12 974 853.25
 7 August 2023

The repurchases were made in terms of the General Authority and were effected through the
order book operated by the JSE Limited trading system without any prior understanding or
arrangement between the Company and the counterparties. The requirements for the general
repurchase of ordinary shares in terms of paragraph 5.72(a) of the JSE Limited Listings
Requirements, have been complied with.

The repurchases did not take place during a prohibited period, as defined in the JSE Limited
Listings Requirements.

The ordinary shares repurchased have been and will be de-listed and cancelled by the date
of this announcement or as soon as possible thereafter as the JSE Limited may permit.

The Company may repurchase up to a further 20 394 702 ordinary shares (16.70% of the
ordinary shares in issue as at the date on which the General Authority was granted), in terms
of the current General Authority, which is valid until the Company’s next AGM.

As at the date of this announcement, the Company held 18 894 449 ordinary shares in
treasury (through Calgro M3 Employee Benefit Trust, Calgro M3 Empowerment Trust and
Calgro M3 Developments Limited). The impact of the repurchases of the ordinary shares on
the financial position of the Company is immaterial, as the repurchases were funded out of the
Company’s available cash resources.
OPINION OF THE BOARD

The Board has considered the effect of the repurchases and is of the opinion that, for a period
of 12 months following the date of this announcement:

-    the Company and its subsidiaries (“the Group”) will be able, in the ordinary course of
     business, to repay their debts;
-    the consolidated assets of the Company and the Group will be in excess of the
     consolidated liabilities of the Company and the Group;
-    the Company’s and the Group’s share capital and reserves will be adequate for the
     ordinary business purposes of the Company and the Group; and
-    the Company and the Group will have sufficient working capital for ordinary business
     purposes.

Johannesburg
8 August 2023

Equity and Debt Sponsor
PSG Capital