Small Related Party Transaction – Updated Announcement TRUSTCO GROUP HOLDINGS LIMITED Incorporated in the Republic of Namibia (Registration number 2003/058) Registered as an external company in South Africa (External registration number 2009/002634/10) JSE share code: TTO NSX share code: TUC OTCQX share code: TSCHY ISIN Number: NA000A0RF067 ("Trustco" or "Company") SMALL RELATED PARTY TRANSACTION – UPDATED ANNOUNCEMENT 1. INTRODUCTION 1.1 Shareholders are referred to the announcement released on SENS on 17 July 2024, where Shareholders were advised of the implementation of the small related party transaction. The wording and definitions referenced in the beforementioned SENS would be applied to this announcement. 1.2 At the request of the JSE to issue this announcement, shareholders are advised that paragraph 2.1 and 2.4 of the announcement has been amended to the information below, as some references needed to be amended. 2. BACKGROUND The amendments to paragraph 2 can be seen below: 2.1 The Company requested a ruling in terms of paragraph 10.4(f)(ii) of the JSE LR, where the ruling was a request not to provide a competent person report "(CPR") inclusive of a valuation for the Sale Shares Agreement. This was due to the mining asset being located in Sierra Leone, the appointed Competent Person, SRK, operate in terms of the guidelines of Canadian Securities Administrators National Instrument 43-101 ("Canadian code") and not the SAMREC code. The Company performed a valuation in lieu of this provision, which the JSE accede to. The fairness opinion was submitted and stated that, the option period had subsequently lapsed meaning the option was incapable of being exercised. Therefore, only the disposal of the 1.3% Sale Shares of Trustco Resources needed to be taken into consideration for purposes of a Fairness Opinion (The disposal of the Sale Shares forming the Transaction) 2.4 Shareholders are advised that, the Transaction was no longer a category 2 related party transaction as previously stated on the announcement dated 20 March 2020, but categorised as a small related party transaction and therefore a circular was no longer required. All other information contained in the announcement dated 17 July 2024 remains correct and unchanged. Windhoek, Namibia, 22 July 2024 Komada Holdings (Pty) Ltd Company Secretary and Investor Relations Services to Trustco Group Holdings Limited JSE Sponsor Vunani Sponsors NSX Sponsor Simonis Storm Securities Proprietary Limited – Windhoek OTCQX Sponsor J.P Galda & Co – New York Date: 22-07-2024 01:00:00 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.