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