Closing of Transactions - Disposal by enX of the New Way Power Business and the enX Ventures Letting Enterprise

The announcement

Closing of Transactions - Disposal by enX of the New Way Power Business and the enX Ventures Letting Enterprise

 ENX GROUP LIMITED
 (Incorporated in the Republic of South Africa)
 (Registration number: 2001/029771/06)
 Share code: ENX
 ISIN: ZAE 000222253
 Listed on the General Segment of the Main Board
 (“enX” or “the Company”)

 CLOSING OF TRANSACTIONS - DISPOSAL BY ENX OF THE NEW WAY POWER BUSINESS
 AND THE ENX VENTURES LETTING ENTERPRISE

Unless otherwise defined herein, capitalised words and terms contained in this announcement shall
bear the meanings ascribed thereto in the Circular (defined below).

1.      INTRODUCTION

1.1.       Shareholders are referred to the Firm Intention Announcement released by enX on SENS on
           Thursday, 18 June 2026 relating to, inter alia, the disposal by NWP of the NWP Sale Business,
           the disposal by enX Ventures of the enX Ventures Letting Enterprise (being the
           “Transactions”) and the approval of the Silver MIP Award and to the subsequent circular
           distributed to Shareholders on Tuesday, 28 July 2026 (“Circular”).

1.2.       Shareholders are further referred to the announcements released on SENS on Friday, 16
           October 2026, whereby Shareholders were advised that the Transactions had become
           unconditional, and on Monday, 19 October 2026, which confirmed receipt of the requisite
           compliance certificate from the Takeover Regulation Panel to implement the Transactions.

2.      CLOSING OF TRANSACTIONS

2.1.       The Company is pleased to advise Shareholders that the Transactions closed today, Monday,
           2 November 2026.

2.2.       On closing, the Group received a cash consideration of R110 million, comprising R90 million
           in respect of the enX Ventures Letting Enterprise and R20 million in respect of the New Way
           Power Sale Business. The remaining R110 million of the Purchase Consideration is payable
           through a two-year vendor loan bearing interest at the prime rate.

2.3.       The Purchase Consideration remains subject to adjustment as set out in the Circular.

2.4.       The Board will consider the potential return of surplus cash to Shareholders following
           finalisation of the relevant Post-Closing Calculation and assessment of the Group’s financial
           position. No determination has been made regarding the amount, form or timing of the
           distribution. Further announcements will be made in due course.

2.5.       The successful completion of the Transactions represents another significant milestone in the
           Group's strategy to realise value from its underlying businesses and return surplus capital to
           Shareholders.

Johannesburg
2 November 2026

Transaction Sponsor and Advisor to enX: Valeo Capital (Pty) Ltd
Legal Advisor to GPR: ENS
Legal Advisors to enX: Munro Smith Parker Law and Thomson Wilks

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Date: 02/11/2026 02:37:00
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