Truworths International Limited (JSE:TRU) News - General repurchase of shares Truworths International Limited (Incorporated in the Republic of South Africa) (Registration number: 1944/017491/06) JSE Code: TRU NSX Code: TRW ISIN: ZAE000028296 LEI: 37890099AFD770037522 (“Truworths” or the “company”) GENERAL REPURCHASE OF SHARES 1. INTRODUCTION In terms of paragraph 11.27 of the JSE Limited Listings Requirements (“Listings Requirements”), Truworths shareholders (“Shareholders”) are advised that the company has cumulatively repurchased 13 019 842 Truworths ordinary shares (“Shares”) in aggregate, being 3% of the Shares in issue as at 4 November 2021. These repurchases have been made by way of open market transactions on the securities exchange operated by the JSE Limited (“JSE”) in accordance with the general authority granted by Shareholders at the company’s annual general meeting held on 4 November 2021 (“General Authority”), (the “Repurchase”). The Repurchase has been effected by the company resulting in the periodic cancellation and removal of the listing of such Shares on the JSE. 2. DETAILS OF THE REPURCHASE Dates of the Repurchase: Between 4 November 2021 and 22 April 2022, both days inclusive Total number of Shares repurchased: 13 019 842 Highest price paid per Share: R58.00 Lowest price paid per Share: R47.65 Total value of Shares repurchased (exclusive of costs): R698 310 152 The number of Shares which may still be repurchased by 30 820 896 the company in terms of the General Authority: The percentage of Shares, based on the Shares in issue as 7% at 27 June 2021, which may still be repurchased by the company in terms of the General Authority: The total number of Shares in issue as at the date of this 420 418 107 announcement: The total number of Shares held in treasury as at the date 40 730 935 of this announcement (exclusive of Shares (i) in the process of being cancelled; and (ii) that have vested during the current financial period pursuant to the company’s 2012 share plan): 3. SOURCE OF FUNDS The Repurchase was funded from cash resources of the group (being the company and its subsidiaries). 4. STATEMENT OF THE BOARD The directors of the company (“Board”) confirm that, after considering the effect of the Repurchase, for a period of 12 months after the date of this announcement: 4.1 the company and the group will, in the ordinary course of business, be able to pay their debts; 4.2 the assets of the company and the group will exceed the liabilities of the company and the group respectively, such assets and liabilities being fairly valued, recognised and measured in accordance with the accounting policies used in the annual financial statements for the 52 weeks ended 27 June 2021; 4.3 the issued share capital and reserves of the company and the group will be adequate for ordinary business purposes of the company and the group respectively; and 4.4 the company and the group’s working capital will be adequate for ordinary business purposes of the company and the group respectively. The Board further confirms that: • paragraph 5.72(a) of the Listings Requirements has been complied with; and • the repurchase of Shares effected during the prohibited period, being from 15 December 2021 to the date of publication of Truworths’ interim financial results for the 26 weeks ended 26 December 2021 on 17 February 2022 (“Prohibited Period”), was pursuant to a repurchase programme put in place prior to the Prohibited Period in accordance with the Listings Requirements. 5. FINANCIAL EFFECTS As a result of the Repurchase, the company and group’s cash and cash equivalents decreased by R700 466 550 (being the total value of the Shares repurchased plus transaction costs) and the number of Shares in issue has decreased by 10 233 846 and will decrease by a further 2 785 996 Shares upon delisting and cancellation of such further Shares by 3 May 2022. The Repurchase has had the effect of reducing the number of Shares in issue and the weighted average number of Shares used for purposes of calculating the net asset value per share, earnings per share and headline earnings per share, by 13 019 842 Shares. 26 April 2022 Cape Town JSE Sponsor: One Capital NSX Sponsor: Merchantec Capital Date: 26-04-2022 03:10:00 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.