Sabvest Capital Limited (JSE:SBP) News - Sabcap’s proposed indirect investment in ARB through MEH and Masimong SABVEST CAPITAL LIMITED Incorporated in the Republic of South Africa Registration number 2020/030059/06 ISIN: ZAE000283511 JSE share code: SBP ("Sabcap") SABCAP’S PROPOSED INDIRECT INVESTMENT IN ARB THROUGH MEH AND MASIMONG Sabcap shareholders are referred to the announcements released on the Stock Exchange News Service (SENS) on 25 and 27 January 2022 in which they were advised that Sabcap had subscribed, at nominal value, for a 49,9% equity interest in Masimong Electrical Holdings Proprietary Limited (MEH) and had committed loan funding and guarantees of R223,5m to MEH in order to facilitate an offer by MEH to acquire all the shares in ARB Holdings Limited (ARB) not held by the Alan Burke family pursuant to a scheme of arrangement (Scheme) and subsequent delisting of ARB from the Johannesburg Stock Exchange (Offer). The ARB shares subject to the Offer total 87 107 061, representing 37,07% of the ARB shares in issue (Offer Shares). The Offer price is 800 cents per Offer Share resulting in a total Offer consideration of R696,9m (before Offer related costs). Sabcap shareholders are further referred to the SENS announcement released by ARB today advising that all the resolutions proposed at the general meeting of ARB shareholders convened in order to consider and, if deemed fit, to implement the terms of the Offer were approved by 99,9% of the voteable ARB shares. The implementation of the Scheme remains subject to the fulfillment, or waiver, where applicable,of a number of Scheme conditions and ARB will release a further announcement as soon as practically possible. Sabcap anticipates that the Offer will become unconditional and will be implemented in late May 2022 or June 2022. In that event, Sabcap will have an indirect, look through investment in ARB of 18,5% through MEH and 1,86% through its 10% shareholding in Masimong Group Holdings Proprietary Limited (Masimong). Sandton 26 April 2022 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 26-04-2022 02:54:00 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.