Novus Holdings Limited
                                Incorporated in the Republic of South Africa
                                   (Registration number 2008/011165/06)
                                 JSE share code: NVS ISIN: ZAE000202149
                                     (“Novus Holdings” or “the Company”)


                                GENERAL REPURCHASE OF ORDINARY SHARES



1. INTRODUCTION

   In compliance with paragraph 11.27 of the Listings Requirements of the JSE Limited ("JSE”), the board
   of directors of Novus Holdings (“the Board”) hereby advises shareholders that, in accordance with the
   general authority granted by shareholders at the Company’s annual general meeting held on 25 August
   2023, Novus Holdings’ subsidiary, Novus Packaging Proprietary Limited (“Novus Packaging”), has
   cumulatively repurchased 10 438 968 Novus ordinary shares, representing 3.01% of the Company’s
   issued share capital as at the date of the annual general meeting (“Repurchase”).

2. DETAILS OF THE REPURCHASE

   Details of the repurchase are as follows:
    Date of repurchase:                                 17 January 2024
    Number of shares repurchased:                       10 438 968
    Price paid per security:                            R4.36
    Total value of shares repurchased:                  R45 513 900.48

   The Repurchase was effected through the order book operated by the JSE and done without any prior
   understanding or arrangement between the Company and the counterparties. The shares were not
   repurchased during a prohibited period.

   Following the Repurchase, the extent of the general authority to repurchase shares outstanding is
   58 892 302 ordinary shares representing 16.99% of the total issued share capital of the Company as at
   the beginning of the Company’s financial year.

   Following the Repurchase, Novus Holdings holds 35 773 055 shares as treasury shares, representing
   10.3194% of the Company’s ordinary shares in issue as at the date of this announcement. Accordingly,
   application will be made to the JSE for the delisting and cancellation of 1 142 086 repurchased shares
   as soon as possible.

3. OPINION OF THE BOARD

   The Board has considered the effect of the Repurchase and is of the opinion that, for a period of 12
   months from the date of this announcement:
   - the Company and its subsidiaries (“the Group”) will be able, in the ordinary course of business, to
       repay its debts;
   - the consolidated assets of the Company and the Group will be in excess of the consolidated
       liabilities, measured in accordance with the accounting policies used in the audited results for the
       year ended 31 March 2023;
   -   the ordinary share capital and reserves of the Company and the Group will be adequate for
       ordinary business purposes; and
   -   the working capital of the Company and the Group will be adequate for ordinary business
       purposes.

4. FINANCIAL INFORMATION

  As a result of the Repurchase, Novus Holdings’ cash balance decreased by R45 627 955.43 (including
  transaction costs of R114 054.95) and will have the effect of reducing the number of shares in issue for
  purposes of earnings per share and headline earnings per share calculations by 10 438 968, which will
  be weighted according to the date of the Repurchase. The Repurchase was funded by the Company’s
  available cash resources.

  For and on behalf of the Board.

  Cape Town
  19 January 2024

  Sponsor
  Merchantec Capital