CAPITAL APPRECIATION LIMITED (Incorporated in the Republic of South Africa) Registration number: 2014/253277/06 JSE Share Code: CTA (the “Company” or the “Group”) RETIREMENT OF NON-EXECUTIVE DIRECTOR In accordance with Paragraph 3.59 of the Listing Requirements of the JSE Limited, the Board of Capital Appreciation Limited, wishes to advise shareholders, that Mr. Charles Valkin, will retire as a Non-Executive Director of the Company, with effect from 31 October 2023. Charles has been a Non-Executive Director from the date of the Company’s listing on 16 October 2015. The Board would like to thank Charles for his 8 years of excellent business and legal guidance and commitment to the Group and wish him the very best in his retirement. Johannesburg 11 October 2023 Sponsor – Investec Bank Limited Contact Details: Capital Appreciation Limited (Registration Number 2014 / 253277 / 06) // First Floor, 61 Katherine Street, Sandton, 2196 // www.capitalappreciation.co.za Executive Directors: Michael Pimstein (Joint CEO), Bradley Sacks (Joint CEO), Alan Salomon (CFO), Michael Shapiro (Synthesis MD) Non-Executive Directors: Michael (Motty) Sacks (Non-Executive Chairman), Bukelwa Bulo, Kuseni Dlamini (Lead Independent Director), Errol Kruger, Rorisang (Roxy) Thokozile Maqache, Victor Sekese, Charles Valkin