Datatec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
Share Code: DTC
("Datatec" or "the Company")


CASH PAYMENT APPLICABLE TO THE SCRIP DISTRIBUTION


Datatec shareholders (“Shareholders”) are referred to the announcement regarding the
declaration of a special cash dividend with a scrip distribution alternative released on the Stock
Exchange News Service (“SENS”) of the JSE Limited (“JSE”) on Tuesday, 11 October 2022, in
terms of which the board of directors of the Company notified Shareholders that it had resolved to
return an amount of approximately £135.1 million to Shareholders by declaring a special cash
dividend of 1250 ZAR cents (“Special Cash Dividend”) per Datatec ordinary share (“Datatec
Share”) held on the record date, being Friday, 2 December 2022 (“Record Date”). Shareholders
were advised that they would be entitled to elect to receive a scrip distribution of new, fully paid
Datatec Shares in proportion to their ordinary shareholding in Datatec on the Record Date instead
of the Special Cash Dividend (“Scrip Distribution” or “Scrip Distribution Alternative”).

Shareholders will be entitled to receive the Special Cash Dividend of 1250 ZAR cents per Datatec
Share in respect of their shareholding as at the close of trading on the JSE on the Record Date,
being Friday, 2 December 2022, in proportion to their ordinary shareholding in Datatec and to the
extent that such Shareholders have not elected to receive the Scrip Distribution Alternative in
respect of all or a part of their shareholding.

However, Shareholders will be entitled to elect to receive a Scrip Distribution of new, fully paid
Datatec Shares in respect of their shareholding in Datatec as at the Record Date, in respect of all
or part of their ordinary shareholding, instead of the Special Cash Dividend.

The ratio applicable to the Scrip Distribution entitlement was announced on SENS on Tuesday,
22 November 2022, being 28.93314 Scrip Distribution shares for every 100 Datatec Shares held
on the Record Date. If the application of this ratio gives rise to a fraction of a new ordinary share,
such fraction of a new ordinary share will be rounded down to the nearest whole number,
resulting in allocations of whole ordinary shares and a cash payment for the fraction ("Rounding
Provision").

In accordance with the Listings Requirements of the JSE, the cash payment for the fractional
entitlement has been determined with reference to the volume weighted average price (“VWAP”)
of a Datatec Share traded on the JSE on Wednesday, 30 November 2022 (being the day on
which Datatec Shares began trading ‘ex' the entitlement to receive the Special Cash Dividend or
the Scrip Distribution Alternative), discounted by 10%.

Shareholders are accordingly advised that the basis applicable in determining the cash payment
for the fractional entitlement is 2801,27049 ZAR cents (the VWAP of Datatec Shares traded on
the JSE on Wednesday, 30 November 2022 of 3112.52277 ZAR cents, discounted by 10%).

Example of fractional entitlement:
This example assumes that a Shareholder holds 100 Datatec Shares at the close of business on
the Record Date and elects to receive the Scrip Distribution shares in respect of all their
shareholding.
New ordinary share entitlement =

100 x 1250 ZAR cents / 4320.30525 ZAR cents

= 28.93314 Scrip Distribution shares

The Rounding Provision described above is then applied and the Shareholder will receive:

28 Scrip Distribution shares in respect of the 100 Datatec Shares held and a cash payment of
2613,97755 ZAR cents for the fractional entitlement (calculated as follows .93314 x 2801,27049 =
2613,97755 ZAR cents).

This fractional entitlement payment will not be subject to Dividend Withholding Tax in terms of the
Income Tax Act 58 of 1962.

Johannesburg
1 December 2022

Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

Legal Advisors
Bowmans