Voluntary announcement: General repurchase of shares and share repurchase programme

The announcement

Voluntary announcement: General repurchase of shares and share repurchase programme

iOCO LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/014669/06)
JSE share code: IOC ISIN: ZAE000071072
("iOCO" or "the Company" or "the Group")

VOLUNTARY ANNOUNCEMENT: GENERAL REPURCHASE OF SHARES AND SHARE REPURCHASE PROGRAMME

Shareholders are advised that iOCO has repurchased an additional 17 691 842 shares (the "Repurchase") for the below
period:

Dates of Repurchase:                             14 October to 29 October 2026
Number of shares repurchased:                    17 691 842
Lowest repurchase price per share (cents):       383.00
Highest repurchase price per share (cents):      406.00
Average repurchase price per share (cents):      400.00
Total value of shares repurchased:               R70 745 512 (excluding transaction costs)

Since 1 August 2025, iOCO has cumulatively repurchased 34 457 696 shares, at a total cash value of R140 655 745,
representing approximately 5.4% of the Company’s issued share capital. Repurchased shares are held as treasury shares.
Following the Repurchase, 34 817 528 shares are currently held as treasury shares.

The Board has evaluated the impact of the Repurchase and is of the view that proceeding with it is in the best interests
of the Company, while ensuring sufficient financial flexibility to deliver on its future strategic objectives and capital
allocation priorities.

The Board has considered the effect of the Repurchase and believes that for a period of twelve months following the
date of this announcement:

-   the Company and the Group will be able in the ordinary course of business to pay its debts;

-   the assets of the Company and the Group will be more than the liabilities of the Company and the Group. For this
    purpose, the assets and liabilities were recognised and measured in accordance with the accounting policies used in
    the latest audited annual Group financial statements;

-   the share capital and reserves of the Company and the Group will be adequate for ordinary business purposes;

-   the working capital of the Company and the Group will be adequate for ordinary business purposes; and

-   the Company and the Group have passed the solvency and liquidity test and since the test was performed, there have
    been no material changes to the financial position of the Group.

As approved at the annual general meeting on 3 December 2025, iOCO obtained general authority to repurchase up to
20% of its issued ordinary share capital. Following the share repurchases executed since 3 December 2025, 93 157 553
ordinary shares remain available for repurchase under this authority, representing approximately 14.6% of iOCO's total
issued share capital.

The Repurchase was made through the order book of the JSE, without any prior understanding or arrangement between
the Company and the counter parties. The Repurchase was funded from the Group’s available cash resources. Cash
balances decreased by R71 274 764 as a result of the Repurchase. The impact on other areas of the Company’s financial
information is immaterial.

30 October 2026

Sponsor
Java Capital
Date: 30/10/2026 05:46:00
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