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Cautionary Announcement - Meya Mining
Trustco Group Holdings Limited
Incorporated in the Republic of Namibia
(Registration number 2003/058)
Registered as an external company in South Africa
(External registration number 2009/002634/10)
JSE Share code: TTO
NSX share code: TUC
ISIN: NA000A0RF067
("Trustco" or "the Company")
CAUTIONARY ANNOUNCEMENT: - MEYA MINING
1. Shareholders are referred to the Company's voluntary announcement of 11 February 2026 regarding the
USD25 million financing facility concluded between Meya Mining Limited ("Meya Mining") and Ecobank
Sierra Leone Limited, supported by Ecobank Ghana PLC. As publicly stated by Meya Mining at that time,
the facility was to support the mine's transition to full commercial production.
2. Trustco holds a minority equity interest in Meya Mining and, as previously disclosed, a loan receivable of
approximately USD46 million. Trustco is not the operator of the mine, does not exercise operational
control over it, and currently has no representation on the board of Meya Mining.
3. On 30 June 2026 and 1 July 2026 respectively, Trustco received written confirmation from Meya Mining's
operator and Meya Mining's audited annual financial statements for the year ended 31 December 2025.
Trustco is making this announcement in discharge of its own continuing disclosure obligations and to
update its own shareholders regarding information which may be relevant to Trustco's exposure to Meya
Mining and the carrying values reflected in Trustco's own financial statements.
4. The information received records that Meya Mining remains in its development phase and has not yet
commenced commercial production, that no revenue was recognised during the reporting period, and that
the mine has been in operational readiness — a status described by the operator as care and maintenance
— since January 2025, in response to challenging conditions in the diamond market. This status is
expected to continue until at least the fourth quarter of the 2026 calendar year, whereafter it will be
reassessed. No date for the commencement of full commercial production has been confirmed.
5. This position represents a material delay to the transition to full commercial production contemplated in
the announcement referred to in paragraph 1.
6. Meya Mining's audited annual financial statements further record an unqualified audit opinion containing
a material uncertainty related to going concern, net current liabilities of USD36.6 million as at 31
December 2025, and a dependence on available banking facilities and continued shareholder support.
Trustco confirms that it has not provided any suretyship, guarantee or similar credit support in respect of
Meya Mining's obligations.
7. Trustco's disclosure of the information in this announcement is made with specific reference to Trustco's
own position as a listed issuer, its own exposure to Meya Mining, and its statutory, regulatory and market
disclosure obligations. Meya Mining's audited annual financial statements have not been approved,
adopted or endorsed by Trustco or the Trustco board. This announcement should not be construed as
the publication of Meya Mining's annual financial statements by Trustco, nor as a waiver of any rights
Trustco may have under any agreement, including the shareholders' agreement relating to Meya Mining.
8. The Company is assessing the effect of this information on the carrying values of its equity interest in, and
loan receivable from, Meya Mining. This assessment is being conducted in conjunction with the ongoing
audit processes of the Trustco Group. The financial effect may be material to the Group.
9. Accordingly, shareholders are advised to exercise caution when dealing in the Company's securities until
a further announcement quantifying the financial effect is made.
Windhoek, Namibia
8 July 2026
By order of the Board
JSE Sponsor
DEA-RU
NSX Sponsor
Simonis Storm Securities Proprietary Limited – Windhoek
Date: 08-07-2026 04:21:00
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