SPUR CORPORATION LIMITED (Incorporated in the Republic of South Africa Registration number 1998/000828/06 Share code: SUR ISIN: ZAE 000022653 (“Spur”, “the Company”) GENERAL REPURCHASE OF SHARES At the annual general meeting of Spur held on 10 December 2021 (“AGM”), shareholders, by special resolution, granted a general authority to the board of directors of the Company and its subsidiaries (“the Group”) for the Company to repurchase up to 20% and for its subsidiaries to repurchase up to 10% of the issued ordinary share capital of the Company, on the terms and subject to the conditions specified in the notice of AGM. Shareholders are hereby advised that, during the period commencing on 17 May 2022 to 23 November 2022, the Company’s subsidiary, Share Buy-Back Proprietary Limited, repurchased an aggregate of 2 759 000 ordinary shares, representing 3% of the issued ordinary share capital of the Company as at the date on which the authority to repurchase the ordinary shares was granted. The aforementioned ordinary shares were repurchased for an aggregate value of R56 891 508 (including transaction costs), funded out of the Group’s available cash resources, as follows: Aggregate Aggregate Highest price Lowest price value number of per ordinary per ordinary (excluding Date of ordinary shares share share transaction repurchases repurchased repurchased repurchased costs) 17 May 2022 to 23 November 2 759 000 21.91 19.55 R56 588 512 2022 The repurchases were made in terms of the general authority granted by shareholders at the AGM and were effected through the order book operated by the JSE Limited trading system without any prior understanding or arrangement between the Company or subsidiary and the counterparties. All of the requirements for the general repurchase of ordinary shares in terms of paragraph 5.72 of the JSE Limited Listings Requirements, have been complied with. The group repurchased 584 000 of the company’s shares at an average cost of R21.11 per share, totalling R12 389 763 (including transaction costs), during the prohibited period prior to publication of its 2022 year end results, pursuant to a repurchase programme which was put in place prior to commencement of the prohibited period in accordance with the Listings Requirements. The Company’s subsidiaries may repurchase up to a further 6 340 693 ordinary shares (7%) of the ordinary shares in issue as at the date on which the authority was granted, in terms of the current general authority, which is valid until the Company’s next annual general meeting. As at the date of this announcement, the Group held 9 795 389 ordinary shares in treasury, including the repurchased shares referred to in this announcement. Treasury shares comprise 3 366 385 shares held by subsidiary companies of the Company, and 6 429 004 shares held by structured entities, The Spur Management Share Trust and The Spur Foundation Trust, which are consolidated for IFRS purposes only. As all the shares have been repurchased by a wholly-owned subsidiary of the Company, such Shares will not be cancelled but will remain listed and held in treasury. As a result, the Group’s cash balances decreased by R56 891 508 (including transaction costs of R302 996) and the repurchases will have the effect of reducing the number of shares in issue used for purposes of the earnings per share and headline earnings per share calculations by an additional 2 759 000 shares, which will be weighted according to the dates of the various repurchases. OPINION OF THE BOARD The Board has considered the effect of the repurchases and is of the opinion that, for a period of 12 months following the date of this announcement: • the Company and the Group will be able, in the ordinary course of business, to repay their debts; • the consolidated assets of the Company and the Group will be in excess of the consolidated liabilities of the Company and the Group; • the Company’s and the Group’s share capital and reserves will be adequate for the ordinary business purposes of the Company and the Group; and • the Company and the Group will have sufficient working capital for ordinary business purposes. Cape Town 24 November 2022 Sponsor Questco Corporate Advisory Proprietary Limited