THE BIDVEST GROUP LIMITED - Voluntary announcement: Acquisition of Citron by Bidvest

Voluntary announcement: Acquisition of Citron by Bidvest

THE BIDVEST GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1946/021180/06)
JSE share code: BVT
ISIN: ZAE000117321
("Bidvest" or "the Company")

VOLUNTARY ANNOUNCEMENT: ACQUISITION OF CITRON BY BIDVEST

Following the 3 July 2024 Stock Exchange News Service ("SENS") announcement dealing with the proposed
acquisition of Citron Hygiene LP ("Citron"), Bidvest, wishes to update stakeholders.

Approval of the Acquisition

Subject to the approval of the UK Competition and Markets Authority ("CMA") approval, Bidvest entered into
an agreement to acquire 100% of Citron from Birch Hill Equity Partners and other investors ("the Acquisition").

We are pleased to announce that the CMA has cleared the Acquisition. The text of this decision will be placed
on the dedicated CMA case page.

The parties will now work towards closing.

Overview of Citron

Citron is a provider of washroom hygiene products and services with a customer base that spans
manufacturing, hospitality, facilities management, education, commercial and healthcare. Headquartered in
Toronto, Canada, Citron serves approximately 50 000 customer locations from seven branches in Canada, four
in the USA and ten in the UK.

Strategic Rationale

The Acquisition of Citron is aligned to Bidvest's stated strategic intent of expanding its international presence
in hygiene services as well as facilities management and the distribution of plumbing and related products.

Categorisation of the Acquisition

The Acquisition does not constitute a categorised transaction in terms of the Listings Requirements of the JSE
Limited and accordingly this information is disclosed on a voluntary basis.

Johannesburg
6 March 2025

Transactional services advisor to Bidvest:
Deloitte LLP
Deloitte South Africa
BDO Corporate Finance
Niche Advisory

Financial advisor to Bidvest:
Barclays UK plc

Legal advisor to Bidvest:
Davies Ward Phillips & Vineberg LLP
Baker & McKenzie South Africa and UK
Sponsor to Bidvest:
Investec Bank Limited

Legal advisor to Citron and Shareholders:
Stikeman Elliott LLP

Date: 06-03-2025 09:40:00
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