THE FOSCHINI GROUP LIMITED - Acquisition of White Stuff (UK)

Acquisition of White Stuff (UK)

THE FOSCHINI GROUP LTD
(Incorporated in the Republic of South Africa)
(Registration number: 1937/009504/06)
JSE / A2X ordinary share code: TFG
ISIN: ZAE000148466
Preference share code: TFGP
ISIN: ZAE000148516
("TFG")

ACQUISITION OF WHITE STUFF (UK)

Shareholders of TFG are advised that TFG, through its United Kingdom (UK) subsidiary, TFG Brands
(London) Limited ('TFG London'), has entered into agreements to acquire the entire issued share
capital of White Stuff, a British fashion and lifestyle retailer ('Transaction'). The Transaction will be
funded from TFG London's existing banking facilities.

The Transaction is unconditional in accordance with the terms of the agreements and was concluded
with an effective date of 25 October 2024.

White Stuff was founded in 1985 and specialises in unique, thoughtfully designed clothing and
accessories for women, men and children. White Stuff has 113 stores and 46 concessions in the UK
(within John Lewis, Marks & Spencer and other quality independent retailers). The business also
operates 6 stores and 25 concessions across Europe. The brand sells internationally via its website
and has 606 wholesale stockists (178 in the UK and Ireland and 428 internationally). Online sales
currently contribute 43% of total sales.

White Stuff has a solid track record of financial performance and in the financial year to 30 April 2024,
the business achieved revenue of £154.8m and EBITDA of £8.6m. The business has the potential for
strong, sustained growth, and the Transaction represents a significant milestone in TFG London's
medium-term strategy to add new brands to its existing portfolio, which includes Phase Eight,
Whistles and Hobbs. The addition of White Stuff to TFG London diversifies and strengthens our
existing womenswear portfolio, adding the first lifestyle brand while also bringing a well-established
menswear offer.

This is not a categorised transaction for the purposes of section 9 of the JSE Listings Requirements.

Cape Town
25 October 2024

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 25-10-2024 01:50:00
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