KAP LIMITED (former name KAP Industrial Holdings Limited) (Incorporated in the Republic of South Africa) (Registration number: 1978/000181/06) Share code: KAP ISIN: ZAE000171963 LEI code: 3789001F51BC0045FD42 (‘KAP’ or ‘the Company’) RESULTS OF THE ANNUAL GENERAL MEETING AND CHANGE TO THE BOARD Shareholders are hereby advised that at the annual general meeting of the Company held at 15:00 on Tuesday, 21 November 2023 at the Protea Hotel, Techno Avenue, Technopark in Stellenbosch (“AGM”), all of the resolutions were passed by the requisite majority of shareholders’ votes. Details of the results of the voting at the AGM are as follows: Number of shares Number of voted at shares not Votes in favour Votes against the AGM voted at the of resolution as resolution as a as a AGM a percentage of percentage of percenta (abstained) as Resolutions total number of total number of Number of ge of a percentage of proposed at the shares voted at shares voted at shares voted shares in shares in AGM the AGM the AGM at the AGM issue* issue* Ordinary resolution 100,00% 0,00%` 2 154 540 380 86,98% 0,05% number 1: Re-appointment of independent external audit firm and individual auditor Ordinary resolution 99,81% 0,19% 2 154 540 380 86,98% 0,05% number 2: Confirmation and re-election of JA Holtzhausen following his appointment by the board Ordinary resolution number 3: Re-election of directors who retire by rotation and not filling a vacancy: 3.1 V McMenamin 100,00% 0,00% 2 154 539 880 86,98% 0,05% 3.2 Z Fuphe 99,96% 0,04% 2 154 539 880 86,98% 0,05% 3.3 Not to fill the 99,95% 0,05% 2 154 539 880 86,98% 0,05% vacancy left by the retirement of KJ Grové (for the time being) Ordinary resolution number 4: Election of audit and risk committee members: 4.1 KT Hopkins 99,98% 0,02% 2 154 186 765 86,96% 0,06% 4.2 Z Fuphe 99,98% 0,02% 2 154 540 380 86,98% 0,05% 4.3 SH Müller 94,91% 5,09% 2 154 540 380 86,98% 0,05% 4.4 TC Esau-Isaacs 99,92% 0,08% 2 154 518 380 86,98% 0,05% Ordinary resolution 61,82% 38,18% 2 152 829 498 86,91% 0,11% number 5: Placing of preference shares under the control of the directors for commercial purposes Ordinary resolution number 6: Non-binding advisory vote to endorse KAP’s: 6.1 80,20% 19,80% 1 568 478 361 63,32% 23,49% Remuneration policy 6.2 66,21% 33,79% 1 573 860 580 63,54% 23,49% Implementation report of the remuneration policy Ordinary resolution 98,19% 1,81% 2 147 469 779 86,68% 0,11% number 7: Ratification of transactions relating to personal financial interests arising from the executive directors’ multiple intergroup directorships Special resolution number 1: Approval of fees payable to non- executive directors: 1.1 95,83% 4,17% 2 152 714 779 86,90% 0,12% Independent non- executive chairperson 1.2 95,82% 4,18% 2 152 759 498 86,91% 0,12% Lead independent non-executive director 1.3 95,86% 4,14% 2 152 737 498 86,91% 0,12% Board member 1.4 94,14% 5,86% 2 152 759 998 86,91% 0,12% Audit and risk committee chairperson 1.5 94,14% 5,86% 2 152 737 998 86,91% 0,12% Audit and risk committee member 1.6 95,86% 4,14% 2 152 759 498 86,91% 0,12% Human capital and remuneration committee chairperson 1.7 95,86% 4,14% 2 152 759 998 86,91% 0,12% Human capital and remuneration committee member 1.8 95,86% 4,14% 2 152 759 998 86,91% 0,12% Social and ethics committee chairperson 1.9 95,86% 4,14% 2 152 686 360 86,90% 0,12% Social and ethics committee member 1.10 95,86% 4,14% 2 152 707 860 86,90% 0,12% Nomination committee chairperson 1.11 95,86% 4,14% 2 152 707 860 86,90% 0,12% Nomination committee member 1.12 100,00% 0,00% 2 152 707 860 86,90% 0,12% Investment committee chairperson (fee per formal meeting) 1.13 100,00% 0,00% 2 152 686 360 86,90% 0,12% Investment committee member (fee per formal meeting) Special resolution 92,45% 7,55% 2 152 777 860 86,91% 0,12% number 2: General authority to provide financial assistance Note: *Total number of shares in issue as at the date of the AGM was 2 477 094 448. The Company has no treasury shares. Shareholders are further advised that ordinary resolution number 6.2 relating to the non-binding advisory vote on the implementation of the remuneration policy, had been voted against by more than 25% of the votes exercised by the Company’s shareholders who were present in person or were represented by proxy at the AGM. KAP invites those shareholders who have cast their non-binding advisory votes against its Remuneration policy and/or the Implementation report on the Remuneration Policy (“Dissenting Shareholders”), to engage with the Company to address their objections and/or concerns. Dissenting Shareholders are invited to submit their objections/concerns/proposals/questions (“Responses”) in writing to the Company Secretary at bert.kok@kap.co.za before close of business on 12 December 2023. Following receipt of the Responses, the Company’s Human Capital and Remuneration committee will (i) consider such Responses; and (ii) schedule appropriate engagements with the Dissenting Shareholders, where required. Change to the composition of the Board Shareholders are referred to the announcement published on SENS on 23 October 2023 and the Company herewith confirms Jo Grové’s (“Jo”) retirement as an independent non-executive director and a member of the investment committee and of the human capital and remuneration committee with effect from the date of the AGM, and in accordance with the Board succession plan. The Board once again wishes to express its sincere gratitude to Jo, who has served the Company with distinction since 2012.The Board wishes him well in his retirement. The nomination committee has reviewed the suitability of the composition of the Board, following Jo’s retirement, and is satisfied that the Board collectively has the necessary skills and expertise to continue to operate efficiently until such time as a suitable candidate with the relevant experience and expertise, has been found to replace Jo as an independent non-executive director on the Board. Stellenbosch 22 November 2023 Sponsor PSG Capital