Grand Parade Investments Limited (JSE:GPL) News - Declaration of Special Dividend GRAND PARADE INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration Number: 1997/003548/06) Share code: GPL ISIN: ZAE000119814 (“GPI” or the “Company”) DECLARATION OF SPECIAL DIVIDEND 1. INTRODUCTION Shareholders are referred to the circular to shareholders issued on Friday, 12 March 2021 (“Circular”) and the Company’s various announcements regarding the proposed transaction in which the Company’s wholly-owned subsidiaries, Grand Foods Investments 1 Proprietary Limited and Grand Foods Proprietary Limited, will sell all of the shares they hold in Burger King South Africa (RF) Proprietary Limited (“BKSA”) and Grand Foods Meat Plant Proprietary Limited (“GFMP”), respectively, to an affiliate of ECP Africa Fund IV LLC and ECP Africa Fund IV A LLC (“ECP”) (“Disposal”), in particular the announcement published on 22 February 2021. At the Company’s general meeting held on Thursday, 15 April 2021, the Disposal was approved by 99.28% of votes exercised on the applicable resolution. On Wednesday, 3 November 2021 (“Closing Date”), the Company published an announcement on SENS advising shareholders that the remaining outstanding conditions had been fulfilled or waived (as the case may be) and, accordingly, that the Disposal had become unconditional and will be implemented in accordance with its terms. On the Closing Date, and in accordance with the terms and conditions of the Disposal, the Company received the first tranche purchase consideration in the sum of R465 407 547 from ECP in cash (“First Tranche Purchase Consideration”). In line with the announcement of 22 February 2021 and the Circular, the Company has used a portion of the First Purchase Consideration received by it to settle certain tax obligations arising from the Disposal and will use approximately R88 000 000 of the First Tranche Purchase Consideration to partially settle its debt. In addition, the Company will distribute the balance of the First Tranche Purchase Consideration to shareholders by way of a special dividend. 2. DECLARATION OF SPECIAL DIVIDEND Shareholders are hereby advised that the board of directors of the Company has, accordingly approved and declared a special gross dividend of 88.0 cents per share, from income reserves (“Special Dividend”), being the largest dividend ever declared by the Company. The declaration of the Special Dividend follows the successful implementation of the sale of GPI’s interests in BKSA and GFMP, which marks an important step in the group’s strategy to unlock value through a controlled sale of assets and to return capital to shareholders. The declaration of the Special Dividend is subject to the condition that the required exchange control approval be obtained from the South African Reserve Bank. The Special Dividend amount, net of South African dividend tax of 20%, is 70.4 cents per share for those shareholders who are not exempt from dividend tax or who are not subject to a reduced rate in terms of any applicable agreement for the avoidance of double taxation between South Africa and such shareholders’ country of residence. There are 470 022 741 no par value GPI ordinary shares in issue on this declaration date. The Company’s income tax number is 9037038024. Any shareholder who is in doubt as to his/her tax status or position or any other matter, including, inter alia, any applicable exchange control requirement, should consult an appropriate independent professional advisor in the relevant jurisdiction without delay. 3. SALIENT DATES The salient dates for the Special Dividend are as follows: Finalisation announcement expected to be Tuesday, 23 November 2021 released by 11:00 a.m. on Last day to trade cum dividend expected to be on Tuesday, 30 November 2021 Trading ex dividend commences expected to be Wednesday, 1 December 2021 on Record Date expected to be on Friday, 3 December 2021 Payment date expected to be on Monday, 6 December 2021 Notes: If the finalisation date has not occurred by Tuesday, 23 November 2021, an updated timetable will be published on SENS. Share certificates may not be dematerialised or rematerialized between Wednesday, 1 December 2021 and Friday, 3 December 2021, both dates inclusive. Certificated shareholders should note that dividend payments no longer occur by cheque and will only be paid via electronic transfer into the bank accounts of certificated shareholders, whose banking details are held by the Company’s transfer secretaries, Computershare Investor Services (Proprietary) Limited. Certificated shareholders whose bank account details are not held by the transfer secretaries, are requested to provide such details to the transfer secretaries to enable payment of the Special Dividend to be made to them. The manner of payment to dematerialised shareholders remains unchanged. Cape Town 11 November 2021 Corporate Adviser and Sponsor PSG Capital Date: 11-11-2021 09:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.