MULTICHOICE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2018/473845/06)
JSE Share Code: MCG
ISIN: ZAE000265971
(“MultiChoice” or “the Company” or “the Group”)

DEALINGS IN SECURITIES BY THE SHARE APPRECIATION RIGHTS PLAN

In compliance with the JSE Limited Listings Requirements, the following transactions are disclosed:

 Name of share scheme                             :      Irdeto Holdings BV 2012 share appreciation rights
                                                         (SARs) plan
 Date of transaction                              :      15 February 2023
 Nature of transaction                            :      On-market purchase of ordinary shares
 Number of securities                             :      424
 Class of securities                              :      Ordinary shares
 Purchase price per share                         :      R129.08
 Value of purchase                                :      R54 729.92
 Clearance obtained                               :      Clearance has been received in terms of
                                                         paragraph 3.66 of the JSE Listings Requirements
 Nature of interest                               :      Direct, non- beneficial

 Name of share scheme                             :      Irdeto Holdings BV 2012 share appreciation rights
                                                         (SARs) plan
 Date of transaction                              :      16 February 2023
 Nature of transaction                            :      On-market purchase of ordinary shares
 Number of securities                             :      1 483
 Class of securities                              :      Ordinary shares
 Highest purchase price per share                 :      R130.03
 Lowest purchase price per share                  :      R129.90
 Volume weighted average purchase price per       :      R129.9378
 share
 Value of purchase                                :      R 192 697.73
 Clearance obtained                               :      Clearance has been received in terms of
                                                         paragraph 3.66 of the JSE Listings Requirements
 Nature of interest                               :      Direct, non- beneficial

 Name of share scheme                             :      Irdeto Holdings BV 2012 share appreciation rights
                                                         (SARs) plan
 Date of transaction                              :      17 February 2023
 Nature of transaction                            :      On-market purchase of ordinary shares
 Number of securities                             :      2 308
 Class of securities                              :      Ordinary shares
 Purchase price per share                        :       R131.76
 Value of purchase                               :       R304 102.08
 Clearance obtained                              :       Clearance has been received in terms of
                                                         paragraph 3.66 of the JSE Listings Requirements
 Nature of interest                              :       Direct, non- beneficial


Randburg
20 February 2023
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)


Important notice
Shareholders should take note that, pursuant to a provision of the MultiChoice memorandum of
incorporation, MultiChoice is permitted to reduce the voting rights of shares in MultiChoice (including
MultiChoice shares deposited in terms of the American Depositary Share ("ADS") facility) so that the
aggregate voting power of MultiChoice shares that are presumptively owned or held by foreigners to
South Africa (as envisaged in the MultiChoice memorandum of incorporation) will not exceed 20% of
the total voting power in MultiChoice. This is to ensure compliance with certain statutory requirements
applicable to South Africa. For this purpose, MultiChoice will presume in particular that:
    • all MultiChoice shares deposited in terms of the MultiChoice ADS facility are owned or held by
        foreigners to South Africa, regardless of the actual nationality of the MultiChoice ADS holder;
        and
    • all shareholders with an address outside of South Africa on the register of MultiChoice will be
        deemed to be foreigners to South Africa, irrespective of their actual nationality or domicilium,
        unless such shareholder can provide proof, to the satisfaction of the MultiChoice board, that it
        should not be deemed to be a foreigner to South Africa, as envisaged in article 40.1.3 of the
        MultiChoice memorandum of incorporation.

Shareholders are referred to the provisions of the MultiChoice memorandum of incorporation available
at www.multichoice.com for further detail. If shareholders are in any doubt as to what action to take,
they should seek advice from their broker, attorney or other professional adviser.