OUTsurance GROUP LIMITED - Dealings in securities by a director of the company

Dealings in securities by a director of the company

OUTsurance Group Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2010/005770/06)
ISIN: ZAE000314084
Share code: OUT
("OGL" or "the Company")

DEALINGS IN SECURITIES BY A DIRECTOR OF THE COMPANY

In compliance with the JSE Limited Listings Requirements,
shareholders are advised that an investment company of Mr Herman
Bosman has implemented a cash-settled equity derivative transaction
referencing OGL ordinary shares held by this investment company, the
relevant details of which are set out below:

Director                      :   HL Bosman
Company                       :   OGL
Date of transaction           :   17 November 2025
Nature of transaction         :   Off-market cash-settled equity
                                  derivative transaction
                                  comprising the acquisition of
                                  call options referencing OGL's
                                  shares ("Bought Call Options"),
                                  the cost of which was offset by
                                  the sale of (i) higher strike
                                  call options ("Sold Call
                                  Options") and (ii) knock-out
                                  put options ("Sold Put
                                  Options", in each case
                                  referencing OGL's shares. The
                                  common and specific terms are
                                  set out below.
Class of securities           :   Options over OGL ordinary
                                  shares
Nature of interest            :   Indirect beneficial
Clearance obtained            :   Yes

Common terms:

Class of securities           :   Options over OGL ordinary
                                  shares
Option style                  :   European
Expiry date                   :   17 November 2026
Number of OGL shares
provided as security/
collateral                    :   500 000

Bought Call Option terms:

Number of options             :   250 000
Strike price                  :   R75.10 per share
Total value of reference      :   R18 775 000 (based on a share
shares                            price of R75.10 per share)

Sold Call Option terms:

Number of options             :   500 000
Strike price                  :   R87.30 per share
Total value of reference      :   R37 550 000 (based on a share
shares                            price of R75.10 per share)

Sold Put Option terms:

Number of options             :   250 000
Strike price                  :   R63.84 per share
Knock-out price               :   R26.29 per share
Total value of reference      :   R18 775 000 (based on a share
shares                            price of R75.10 per share)

Centurion
18 November 2025

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 18-11-2025 12:35:00
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