ETION LIMITED (Incorporated in the Republic of South Africa) (Registration Number: 1987/001222/06) (Share Code: ETO) (ISIN: ZAE000097028) (“Etion” or “the Company” or “the Group’’) DISTRIBUTION OF CIRCULAR AND NOTICE OF GENERAL MEETING INTRODUCTION Shareholders are referred to the firm intention announcement dated 8 June 2022 released on SENS, and regularised on 24 August 2022 in terms of the regularising announcement released on SENS on 24 August 2022, whereby Etion announced that it had entered into an agreement with Reunert Applied Electronics Holdings Proprietary Limited ("Offeror”) in terms of which, Etion will sell 100% of the issued shares in Etion Create Proprietary Limited to the Offeror (“Disposal”). DISTRIBUTION OF CIRCULAR AND NOTICE OF GENERAL MEETING A circular (“Circular”), detailing the Disposal, will be distributed to shareholders today, Wednesday, 24 August 2022. The Circular also incorporates a notice convening a general meeting of shareholders (“General Meeting”) for the purpose of considering, and, if deemed fit, passing, with or without modification, the resolutions contained in such notice. Notice is hereby given that the General Meeting will be held electronically at 9h00 on Wednesday, 21 September 2022, to consider and, if deemed fit, to pass, with or without modification, the requisite resolutions required for the Disposal. The Circular is available in English only. Copies may be obtained during normal business hours from the registered office of the Company and from the offices of the Company’s transactional sponsor, PSG Capital, from Wednesday, 24 August 2022 until Wednesday, 21 September 2022 (both days inclusive). A copy of the Circular will also be available on the Company’s website (www.etion.co.za). IMPORTANT DATES AND TIMES Shareholders are referred to the table below setting out important dates and times in relation to the General Meeting and the Disposal. ETION CREATE DISPOSAL CIRCULAR 2022 Notice record date, being the date on which a Shareholder must be registered in the Register in order to be eligible to receive the Notice of General Meeting on Friday, 19 August Circular incorporating the Notice of General Meeting and Form of Wednesday, 24 Proxy (grey), distributed to Shareholders on August Announcement of distribution of Circular and notice convening the Wednesday, 24 General Meeting released on SENS on August Last day to trade Shares in order to be recorded in the Register to Tuesday, 13 vote at the General Meeting (see note 2 below) on September General Meeting record date, being the date on which a Shareholder must be registered in the Register in order to be eligible to attend and participate electronically in the General Friday, 16 Meeting and to vote thereat, by close of trade on September For administrative reasons, Forms of Proxy (grey) in respect of the General Meeting to be received by the Transfer Secretaries by no Monday, 19 later than 9:00 on September Last date and time for Shareholders to give notice in terms of section 164 of the Companies Act to Etion, objecting to the Special Wednesday, Resolution approving the Disposal by 09:00 on 21 September Forms of Proxy (grey) not lodged with the Transfer Secretaries to be emailed to the Transfer Secretaries (who will provide same to the chairman of the General Meeting) at any time before the proxy Wednesday, exercises any rights of the Shareholder at the General Meeting on 21 September General Meeting held at 09:00 on Wednesday, 21 September Results of the General Meeting published on SENS on Wednesday, 21 September If the Disposal is approved by Shareholders: Last date on which Shareholders who voted against the Special Resolution may require Etion to seek court approval in terms of section 115(3)(a) of the Companies Act, but only if the Special Resolution was opposed by at least 15% of the voting rights Wednesday, exercised thereon, on 28 September Last date on which Shareholders who voted against the Special Resolution can make application to the court in terms of Wednesday, section 115(3)(b) of the Companies Act on 5 October Last date for Etion to send objecting Shareholders notices of the adoption of the Special Resolution approving the Disposal, in terms Wednesday, of section 164 of the Companies Act, on 5 October If Shareholders do not exercise their rights in terms of section 115(3)(a) and section 115(3)(b) of the Companies Act: Receipt of the Takeover Panel Compliance Certificate in respect of once all of the the Disposal Conditions Precedent to the Disposal have been fulfilled or waived, expected to occur on or about 17 October2022 Notes: 1. The above dates and times are subject to amendment at the discretion of the Company, with the approval of the Takeover Regulation Panel and (where required) the JSE. Any such amendment will be released on SENS. 2. Shareholders should note that as transactions in Shares are settled in the electronic settlement system used by Strate, settlement of trades take place three South African Business Days after such trade. Therefore, Shareholders who acquire Shares after close of trade on Tuesday, 13 September 2022 will not be eligible to attend, participate in and vote at the General Meeting. 3. Shareholders who wish to exercise their Appraisal Rights are referred to Annexure 8 to the Circular for purposes of determining the relevant timing for the exercise of their Appraisal Rights. 4. If the General Meeting is adjourned or postponed, the above dates and times will change, but Forms of Proxy submitted for the initial General Meeting will remain valid in respect of any such adjournment or postponement of the General Meeting. 5. All dates and times indicated above are South African Standard Time. INDEPENDENT BOARD RESPONSIBILITY STATEMENT The Independent Board individually and collectively accepts full responsibility for the accuracy of the information contained in this announcement. In addition, the Independent Board certifies that to the best of its knowledge and belief, the information contained in this announcement solely pertaining to the Company is true and, where appropriate, does not omit anything that is likely to affect the importance of the information contained herein, and that all reasonable enquiries to ascertain such information have been made. 24 August 2022 Sponsor and Transaction Advisor PSG Capital