US PLUS LIMITED - UsPlus - Financial Covenants Notification

UsPlus - Financial Covenants Notification

Us Plus Limited
Incorporated in the Republic of South Africa
(Registration number 2014/048709/06)
Stock Code: USPJ01  ISIN Code: ZAG000207523
Stock Code: USPS01  ISIN Code: ZAG000207515
("UsPlus" or "the Issuer")


FINANCIAL COVENANTS NOTIFICATION


In accordance with clause 6.3 of the Amended Terms and Conditions Schedule of the Applicable Pricing
Supplements, holders of the USPJ01 and USPS01 listed notes are hereby advised that financial covenant
requirements, as measured against the three-month period ended 28 February 2026 ("Measurement Period"), are
as follows:

                                                                                              At Measurement
Covenant                                             Requirement                                     Period1
Debt to Equity Ratio                                 Must be less than 4 times                          1.53

Interest Cover Ratio                                 Must be at least 1.5                               2.97

Largest exposure of the Issuer to a single client    Must not exceed 15% of the Total                  6.07%
(In respect of the Issuer's Current Financing        Receivables
Products, and any new products)

Aggregate Receivables in respect of Purchase         Must be less than 10% of the Total                4.39%
Orders                                               Receivables from time to time

Unless expressly defined in this announcement, capitalised terms herein have the meaning ascribed to them in the
Applicable Pricing Supplements.

1Based  on management accounts. Should the financial covenants differ following the finalisation of the audit of
UsPlus' annual financial statements, a further announcement will be published.


Johannesburg
20 March 2026

Debt Sponsor
Merchantec Capital

Date: 20-03-2026 08:30:00
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