Capital Appreciation Limited
Incorporated in the Republic of South Africa
(Registration number 2014/253277/06)
Share code: CTA
ISIN: ZAE000208245
(“CAPPREC" or “the Company”)


RESULTS OF THE ANNUAL GENERAL MEETING OF CAPITAL APPRECIATION LIMITED
HELD ON 7 SEPTEMBER 2022

Shareholders are advised that the results of the business conducted at the annual general meeting held
virtually on Wednesday 7 September 2022 are as follows:

                                                                           Percentage       Number of shares

 Total number of shares that can be exercised at the meeting                                   1 310 000 000

 Total number of shares present/represented including proxies at the          71.57%             937 606 877
 meeting as % of voteable shares
 Total number of shares present/represented including proxies at the          71.57%             937 606 877
 meeting as % of issued shares

 Total number of members present in person                                                                5

 Issued Shares                                                                                 1 310 000 000




Details of the results of voting at the annual general meeting are as follows:
                                 For                  Against              Abstain                     Total
                                          %                            %                %
                              Votes                     Votes               Votes*                    Votes
 Ordinary resolution
 number 1 -
                        936 673 549     100%             1 007     0%      932 321   0.07%       937 606 877
 Acceptance of
 financial statements
 Ordinary resolution
 number 2.1 -
 Re‑election of         909 166 366     97.1%      27 507 340     2.9%     933 171   0.07%       937 606 877
 Michael (Motty)
 Sacks as director
 Ordinary resolution
 number 2.2 -
 Re‑election of         936 672 699     100%             1 007     0%      933 171   0.07%       937 606 877
 Bukelwa Bulo as
 director
 Ordinary resolution
                        934 166 191     99.7%        2 507 515    0.3%     933 171   0.07%       937 606 877
 number 2.3 -
Re‑election of
Michael Brian
Shapiro as director
Ordinary resolution
number 2.4 -
Re‑election t of        875 110 375   93.4%   61 563 331   6.6%    933 171    0.07%   937 606 877
Charles Valkin as
director
Ordinary resolution
number 3.1 -
Re‑election of V
Sekese as member
                        936 672 699   100%        1 007    0%      933 171    0.07%   937 606 877
and Chairman of
the audit and risk
and opportunity
committee
Ordinary resolution
number 3.2 -
Re‑election of B
Bulo as a member        936 672 699   100%        1 007    0%      933 171    0.07%   937 606 877
of the audit and risk
and opportunity
committee
Ordinary resolution
number 3.3 -
Election of KD
Dlamini as a
                        928 516 042   99.1%    8 158 514   0.9%    932 321    0.07%   937 606 877
member of the audit
and risk and
opportunity
committee
Ordinary resolution
number 4 -
                        936 673 549   100%        1 007    0%      932 321    0.7%    937 606 877
Reappointment of
external auditors
Ordinary resolution
number 5 -
General authority to    928 480 842   99.1%    8 258 514   0.9%    867 521    0.07%   937 606 877
issue shares for
cash
Ordinary resolution
number 6 -
Non‑binding             845 794 730   90.3%   90 674 626   9.7%   1 137 521   0.09%   937 606 877
advisory vote on
remuneration policy
Ordinary resolution
number 7 -
Non‑binding
advisory vote on        872 863 023   93.2%   63 606 333   6.8%   1 137 521   0.09%   937 606 877
remuneration
implementation
report
Special resolution
                        928 471 842   99.1%    8 210 288   0.9%    924 747    0.07%   937 606 877
number 1 -




                                                                                                2
 Approval of
 non‑executive
 directors’ fees
 Special resolution
 number 2 -
 Repurchase of the       928 263 227   99.1%     8 479 769   0.9%        863 881   0.07%      937 606 877
 Company’s ordinary
 shares
 Special resolution
 number 3 -
 Financial assistance
                         936 642 444   100%         32 112    0%         932 321   0.07%      937 606 877
 to subsidiaries and
 other related and
 interrelated entities

*Abstentions are represented as a percentage of total issued ordinary shares

The special resolutions will to the extent necessary be filed and registered with the Companies and
Intellectual Property Commission.

Johannesburg
7 September 2022

Sponsor: Investec Bank Limited




                                                                                                        3