SUN INTERNATIONAL LIMITED - Proposed Transaction Recommendation of the Competition Commission

Proposed Transaction – Recommendation of the Competition Commission

SUN INTERNATIONAL LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1967/007528/06)
ISIN code: ZAE000097580
Share code: SUI
LEI: 378900835F180983C60
("Sun International" or the "Company")


PROPOSED TRANSACTION – RECOMMENDATION OF THE COMPETITION COMMISSION


Shareholders are referred to the announcement released by the Company on SENS on 18 December
2023, and to the Circular delivered to shareholders dated 5 February 2024, regarding the proposed
acquisition by Sun International (South Africa) Limited, a wholly owned subsidiary of Sun International,
of all of the issued ordinary shares and any claims on loan account against Peermont Holdings
Proprietary Limited ("Proposed Transaction").

Shareholders are advised that the Company has been notified by the Competition Commission that it
has recommended to the Competition Tribunal that the Proposed Transaction be prohibited in terms of
section 14A (1)(b)(iii) of the Competition Act, No. 89 of 1998, as amended.

The detailed report containing the reasons and recommendation made by the Competition Commission
to the Competition Tribunal will be reviewed and evaluated by the Company once received. In the
interim, the Competition Tribunal will begin its review and deliberation of the Proposed Transaction
which it may still approve despite the recommendation made by the Competition Commission.
Shareholders are reminded that the approval of the Competition Tribunal is a condition precedent to
the Proposed Transaction.

Shareholders will be kept apprised of developments in this regard.


Johannesburg

25 October 2024

Investment Bank, Corporate Advisor and Transaction Sponsor to Sun International
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Legal Advisor to Sun International
Cliffe Dekker Hofmeyr Incorporated

Competition Law Advisor to Sun International
Herbert Smith Freehills South Africa LLP

Financial Advisor to the Peermont Group
Rand Merchant Bank (a division of FirstRand Bank Limited)

Legal, Tax and Competition Law Advisor to the Peermont Group
Bowman Gilfillan Incorporated

Date: 25-10-2024 11:45:00
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