KAAP AGRI LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2011/113185/06)
Share code: KAL
ISIN: ZAE000244711
(“Kaap Agri” or the “Company”)


SHARES RECEIVED PURSUANT TO PSG GROUP LIMITED’S UNBUNDLING OF KAAP
AGRI SHARES


Shareholders are referred to the finalisation announcement published on the JSE Limited’s
(“JSE”) Stock Exchange News Service on 25 August 2022 by PSG Group Limited
(“PSG Group”), regarding the restructure of PSG Group, including the pro rata distribution in
specie of PSG Group’s shareholding in Kaap Agri to PSG Group shareholders
(“Unbundling”). Certain directors of Kaap Agri (and/or their associates) hold PSG Group
shares and, accordingly, upon implementation of the Unbundling on 12 September 2022,
received Kaap Agri shares in the same ratio and on the same basis applicable to all PSG
Group shareholders. Applicable details regarding the directors (and/or their associates) in
question and the Kaap Agri shares unbundled to them, appear below.

1.
 NAME OF DIRECTOR                                Sean Walsh

 COMPANY OF WHICH A DIRECTOR                     Kaap Agri Limited

 STATUS: EXECUTIVE/NON-EXECUTIVE                 Executive

 TYPE AND CLASS OF SECURITIES                    Ordinary shares

 DATE OF TRANSACTION                             12 September 2022

 PRICE PER SECURITY (CENTS)                      3 700*

 NUMBER OF SECURITIES                            1 105

 TOTAL RAND VALUE OF SECURITIES                  R40 885.00

 NATURE OF TRANSACTION                           Off-market receipt of Kaap Agri
                                                 shares pursuant to the Unbundling

 NATURE AND EXTENT OF INTEREST IN                Direct, beneficial
 THE TRANSACTION

 CLEARANCE                                       Not applicable


2.
 NAME OF DIRECTOR                                CA Otto

 COMPANY OF WHICH A DIRECTOR                     Kaap Agri Limited
STATUS: EXECUTIVE/NON-EXECUTIVE    Non-Executive

TYPE AND CLASS OF SECURITIES       Ordinary shares

DATE OF TRANSACTION                12 September 2022

PRICE PER SECURITY (CENTS)         3 700*

NUMBER OF SECURITIES               24

TOTAL RAND VALUE OF SECURITIES     R888.00

NATURE OF TRANSACTION              Off-market receipt of Kaap Agri
                                   shares pursuant to the Unbundling

NATURE AND EXTENT OF INTEREST IN   Direct, beneficial
THE TRANSACTION

CLEARANCE                          Not applicable


3.
 NAME OF DIRECTOR                  GM Steyn

COMPANY OF WHICH A DIRECTOR        Kaap Agri Limited

STATUS: EXECUTIVE/NON-EXECUTIVE    Non-Executive

TYPE AND CLASS OF SECURITIES       Ordinary shares

DATE OF TRANSACTIONS               12 September 2022

PRICE PER SECURITY (CENTS)         3 700*

NUMBER OF SECURITIES               3 547                                (1)

                                   38 359                               (2)

TOTAL RAND VALUE OF SECURITIES     R131 239.00                          (1)

                                   R1 419 283.00                        (2)

NAMES OF ASSOCIATES                George en Miets Beleggings           (1)
                                   (Pty) Ltd

                                   GM Steyn Trust                       (2)

RELATIONSHIPS WITH DIRECTOR        The director is a director           (1)
                                   and shareholder of the associate

                                   The director is a trustee            (2)
                                   and a beneficiary of the associate
NATURE OF TRANSACTIONS             Off-market receipt of Kaap Agri
                                   shares pursuant to the Unbundling

NATURE AND EXTENT OF INTEREST IN   Indirect, beneficial
THE TRANSACTIONS

CLEARANCE                          Not applicable


4.
 NAME OF DIRECTOR                  WC Michaels

COMPANY OF WHICH A DIRECTOR        Kaap Agri Limited

STATUS: EXECUTIVE/NON-EXECUTIVE    Non-Executive

TYPE AND CLASS OF SECURITIES       Ordinary shares

DATE OF TRANSACTION                12 September 2022

PRICE PER SECURITY (CENTS)         3 700*

NUMBER OF SECURITIES               247

TOTAL RAND VALUE OF SECURITIES     R9 139.00

NATURE OF TRANSACTION              Off-market receipt of Kaap Agri
                                   shares pursuant to the Unbundling

NATURE AND EXTENT OF INTEREST IN   Direct, beneficial
THE TRANSACTION

CLEARANCE                          Not applicable


5.
 NAME OF DIRECTOR                  JH le Roux

COMPANY OF WHICH A DIRECTOR        Kaap Agri Limited

STATUS: EXECUTIVE/NON-EXECUTIVE    Non-Executive

TYPE AND CLASS OF SECURITIES       Ordinary shares

DATE OF TRANSACTIONS               12 September 2022

PRICE PER SECURITY (CENTS)         3 700*

NUMBER OF SECURITIES               251                           (1)

                                   33                            (2)
 TOTAL RAND VALUE OF SECURITIES                 R9 287.00                         (1)

                                                R1 221.00                         (2)

 NAMES OF ASSOCIATES                            Bakenskraal Investments           (1)
                                                (Pty) Ltd

                                                Bakenskraal Trust                 (2)

 RELATIONSHIPS WITH DIRECTOR                    The director is a director of    (1)
                                                the associate, as well as a
                                                trustee and beneficiary of
                                                the shareholder of the associate

                                                The director is a trustee         (2)
                                                and a beneficiary of the associate

 NATURE OF TRANSACTIONS                         Off-market receipt of Kaap Agri
                                                shares pursuant to the Unbundling

 NATURE AND EXTENT OF INTEREST IN               Indirect, beneficial
 THE TRANSACTIONS

 CLEARANCE                                      Not applicable


*The closing price of Kaap Agri shares on the record date for the Unbundling, being
9 September 2022.

Paarl
13 September 2022

Sponsor
PSG Capital