AFRICAN BANK HOLDINGS LIMITED - Acceptance of employee share ownership scheme awards

Acceptance of employee share ownership scheme awards

AFRICAN BANK HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2014/176855/06)
LEI: 254900UUEMIK0XL5A056
Company code: ABLI
("ABHL")

AFRICAN BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registered Bank)
(Registration No. 2014/176899/06)
LEI: 2549008X8SL1B1J86F98
Company code: ABKI
("African Bank" or the "Bank")


ACCEPTANCE OF EMPLOYEE SHARE OWNERSHIP SCHEME AWARDS

African Bank has taken a momentous step towards our vision of a bank for the people by the people, serving the 
people, with the launch of the iKamva Lethu (Our Future) Employee Share Ownership Scheme ("ESOS") in 2024.

This initiative effectively allocates 10% of ownership of ABHL shares to all permanent African Bank employees, 
ensuring equitable ownership regardless of race, age, tenure, or seniority. The scheme aims to foster employee 
retention and commitment, empowering our workforce to be fully invested in the Bank's future.

In addition to all employees, the following individuals who are executive directors, prescribed officer, and 
the company secretary of African Bank and ABHL have been awarded and have accepted conditional awards in the 
iKamva Lethu ESOS. Awards in the ESOS are settled in ordinary shares upon vesting, subject to the outcome of 
the conditions imposed by the scheme. Each award has an initial deemed value of R53 310.

The conditional ESOS units awarded are subject to retention, forfeiture, and performance
conditions, and vest in accordance with the rules of the ESOS.

In terms of Section 6.45 of the Debt and Specialist Securities Listings Requirements of the JSE Limited, 
shareholders are advised of the following off-market transactions for which clearance has been received.

Director                     :   Kennedy G Bungane
Date award was accepted      :   17 April 2025
Class of security            :   Units in iKamva Lethu
Number of awards             :   One participation unit
Awards strike price          :   Nil
Vesting period of the awards :   14 April 2025 + 5 years
Nature of interest           :   Direct beneficial
Director                     :   Zweli Manyathi
Date award was accepted      :   17 April 2025
Class of security            :   Units in iKamva Lethu
Number of awards             :   One participation unit
Awards strike price          :   Nil
Vesting period of the awards :   14 April 2025 + 5 years
Nature of interest           :   Direct beneficial



Director                     :   Anbann Chetti
Date award was accepted      :   17 April 2025
Class of security            :   Units in iKamva Lethu
Number of awards             :   One participation unit
Awards strike price          :   Nil
Vesting period of the awards :   14 April 2025 + 5 years
Nature of interest           :   Direct beneficial



Prescribed officer           :   Sibongiseni Ngundze
Date award was accepted      :   22 April 2025
Class of security            :   Units in iKamva Lethu
Number of awards             :   One participation unit
Awards strike price          :   Nil
Vesting period of the awards :   14 April 2025 + 5 years
Nature of interest           :   Direct beneficial


Company Secretary            :   Trisha Singh
Date award was accepted      :   17 April 2025
Class of security            :   Units in iKamva Lethu
Number of awards             :   One participation unit
Awards strike price          :   Nil
Vesting period of the awards :   14 April 2025 + 5 years
Nature of interest           :   Direct beneficial


iKamva Lethu is the cornerstone of African Bank's efforts to align employee interests with the long-term success
of the Bank. The creation of this ESOS forms part of the Bank's intensive pre-IPO preparations, and represents 
another significant milestone in its strategic mission of building a customer-centric, data- and digitally-enabled 
diversified business that is scalable and sustainable, with a compelling listing proposition.



23 April 2025

Debt sponsor
The Standard Bank of South Africa Limited

Date: 23-04-2025 10:30:00
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