ARGENT INDUSTRIAL LIMITED - General repurchase of ordinary shares

General repurchase of ordinary shares

ARGENT INDUSTRIAL LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1993/002054/06)
Share code: ART
ISIN: ZAE000019188
("Argent" or "the Company" or "the Group")

GENERAL REPURCHASE OF ORDINARY SHARES

At the annual general meeting of Argent held on 18 August 2025 ("AGM"), shareholders, by special
resolution, granted a general authority to the board of directors of the Company ("Board") to
repurchase up to 20% of the issued ordinary share capital of Argent, on the terms and subject to the
conditions specified in the notice of AGM.

Shareholders are advised that Argent has repurchased an aggregate of 357 654 ordinary shares,
representing 0.66% of the issued ordinary share capital as at the date on which the general authority
was granted. The aforementioned ordinary shares were repurchased for an aggregate value of
R11 959 776.41, funded out of the Company's available cash resources, as follows:

  Date of                     Aggregate        Highest price   Lowest price per   Aggregate value
  repurchases                 number of         per ordinary     ordinary share
                        ordinary shares                share        repurchased
                            repurchased          repurchased
  23 February 2026              357 654               R33.53             R33.00    R11 959 776.41
  to 6 March 2026

The repurchases were made in terms of the general authority granted by shareholders at the AGM
and were effected through the order book operated by the JSE trading system without any prior
understanding or arrangement between the Company and the counterparties. The repurchases took
place in accordance with the JSE Listings Requirements.

The ordinary shares repurchased were de-listed and cancelled on 17 March 2026.

Argent may repurchase up to a further 10 070 986 ordinary shares (18.70% of the ordinary shares
in issue as at the date on which the authority was granted), in terms of the current general authority,
which is valid until Argent's next annual general meeting.

As at the date of this announcement, the Company held nil ordinary shares in treasury. The ordinary
shares were repurchased from excess working capital resources of the Company and the interest
that would have been generated for the Group's banking facility is minimal.

The Board confirms that it has considered the effect of the repurchases and has applied the solvency
and liquidity test in terms of the Companies Act.

Umhlanga
17 March 2026

Sponsor
PSG Capital

Date: 17-03-2026 05:05:00
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