TRENCOR LIMITED - Voting Results of Annual General Meeting and Update on Winding Up

Voting Results of Annual General Meeting and Update on Winding Up

TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1955/002869/06)
Share code: TRE
ISIN: ZAE000007506
("Trencor" or "the company")

VOTING RESULTS OF ANNUAL GENERAL MEETING AND UPDATE ON WINDING UP

VOTING RESULTS OF ANNUAL GENERAL MEETING

At the annual general meeting ("AGM") of shareholders of Trencor held on Monday, 13 May 2024, all the ordinary and special resolutions proposed
were approved by the requisite majority of votes. The company confirms the voting statistics from the AGM as follows:

Total number of shares in issue                        173 534 676
Total number of shares represented at the AGM          98 414 207 (56,71%)



                                               Votes cast disclosed as a
                                           percentage in relation to the total                           Shares voted        Shares abstained
                                            number of shares voted at the                              disclosed as a          disclosed as a
                                                        AGM                                             percentage in           percentage in
                                                                                     Number of  relation to the total   relation to the total
 Resolutions                                           For            Against     shares voted   issued share capital    issued share capital
 Ordinary resolution number 1.1:
                                                    92,31%              7,69%       97 090 888                 55,95%                   0,76%
 Election of David Nurek as a director
 Ordinary resolution number 1.2:
                                                   100,00%              0,00%       98 414 207                 56,71%                   0,00%
 Election of Ric Sieni as a director
 Non-binding advisory vote number 1:
                                                    92,31%              7,69%       97 090 788                 55,95%                   0,76%
 Endorsement of remuneration policy
 Non-binding advisory vote number 2:
 Endorsement of remuneration                        92,31%              7,69%       97 090 788                 55,95%                   0,76%
 implementation report
 Ordinary resolution number 2: Re-
 appointment of KPMG Inc as                         91,07%              8,93%       98 414 207                 56,71%                   0,00%
 independent auditor
 Ordinary resolution number 3.1:
                                                    92,31%              7,69%       97 090 888                 55,95%                   0,76%
 Election of David Nurek as audit
 committee member
 Ordinary resolution number 3.2:
 Election of Eddy Oblowitz as audit                 92,31%              7,69%       97 090 888                 55,95%                   0,76%
 committee member
 Ordinary resolution number 3.3:
 Election of Roddy Sparks as audit                  92,41%              7,59%       98 414 207                 56,71%                   0,00%
 committee member
 Special resolution number 1: Approval
 and authorisation of the provision of
                                                   100,00%              0,00%       98 414 207                 56,71%                   0,00%
 financial assistance by the company to
 related or inter-related companies
 Special resolution number 2: Approval
 of non-executive directors'                       100,00%              0,00%       97 090 888                 55,95%                   0,76%
 remuneration from 1 July 2024

Special resolution number 3 relating to the granting of a general authority to the company or its subsidiaries to acquire the issued shares of the
company was withdrawn.

UPDATE ON WINDING UP

As previously reported, it is the intention to wind up the company as soon as possible, having regard to Trencor's obligations under the indemnity that
Trencor provided to the Halco Trust indemnitees and to Trencor's outstanding regulatory and other affairs.

Trencor is engaging with various regulators, counter parties and other interested parties in order to be in a position to wind up the company as soon as
possible after 31 December 2024.

Whether or not the board will be in a position to commence with the payment of distributions and a winding up of the company following
31 December 2024 as currently intended, will depend on the circumstances at the relevant time. The board is pursuing all steps within its powers to
ensure that this process commences as soon as possible.

Trencor Services Proprietary Limited
Secretaries
13 May 2024

Sponsor
Investec Bank Limited

www.trencor.net

Date: 13-05-2024 04:47:00
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