Results of the Rescheduled General Meeting ELB GROUP LIMITED Incorporated in the Republic of South Africa (Registration number 1930/002553/06) ISIN: ZAE000035101 JSE Code: ELR (“ELB” or “the Company”) RESULTS OF THE RESCHEDULED GENERAL MEETING 1. Introduction 1.1 Unless otherwise indicated, capitalised words and terms contained in this announcement shall bear the same meanings ascribed thereto in the Supplementary Circular dated 27 November 2020 (“Supplementary Circular”), which was made available on the Company’s website: www.elb.co.za/investor-relations-2/. 1.2 Shareholders are referred to the Supplementary Circular containing the details of the material changes to the Circular issued on 1 July 2020, the Second Expert’s Report and incorporating a notice of Rescheduled General Meeting, Form of Proxy and Form of Surrender and Transfer for the Scheme. 2. Results of the Rescheduled General Meeting 2.1 The ELB Board is pleased to announce that, pursuant to the Rescheduled General Meeting held on 31 December 2020, the resolution as contained in the Notice of Rescheduled General Meeting which formed part of the Supplementary Circular, was passed by the requisite majority of ELB Shareholders entitled to vote thereat. The results of the Rescheduled General Meeting are set out in paragraph 2.2 below: 2.1.1 The total number of ELB Shares in issue as at the date of the Rescheduled General Meeting was 28 473 542 of which 22 894 611 were Scheme Shares which were entitled to vote. 2.1.2 The total number of Scheme Shares that were present in person/represented by proxy and entitled to vote on Special Resolution Number 1 was 18 362 284, being 80.20% of the total number of Scheme Shares that can be exercised at the Rescheduled General Meeting. 2.1.3 The total number of Scheme Shares voted at the Rescheduled General Meeting was 18 358 835, representing 80.19% of the Scheme Shares which were entitled to vote. 2.1.4 Abstentions are represented below as a percentage (rounded down to two decimal points) of total number of Scheme Shares in issue while the Scheme Shares voted for and against are represented as a percentage of the total Scheme Shares voted in person or by proxy at the Rescheduled General Meeting. 2.2 The result of the Scheme Resolution proposed at the Rescheduled General Meeting is set out below: Resolution Total number % of votes % of votes % of ELB of ELB Shares for the against the Shares voted Scheme Scheme abstained (excluding Resolution Resolution abstentions) Special Resolution 1 – Approval of the 18 358 835 86.00% 14.00% 0.02% Scheme Resolution in accordance with sections 48(8)(a), 48(8)(b), 114(1)(e) and 115(2)(a) of the Companies Act 3. Scheme Conditions Precedent Shareholders will be advised once all the Scheme Conditions Precedent, as set out in the Circular and the Supplementary Circular, have been fulfilled (or waived, to the extent possible). A finalisation announcement will be made in due course, based on the indicative salient dates and times set out in the Supplementary Circular. 4. Responsibility statement The Independent Board and the ELB Board, individually and collectively, accept full responsibility for the accuracy of the information contained in this announcement and certify that, to the best of their knowledge and belief, such information is true and this announcement does not omit any facts that would make any of the information false or misleading or would be likely to affect the importance of any information contained in this announcement. The Independent Board and the ELB Board have made all reasonable enquiries to ascertain that no facts have been omitted and this announcement contains all information required by law, the Companies Act and the JSE Listings Requirements. By order of the ELB Board Johannesburg 31 December 2020 Sponsor Questco Corporate Advisory Proprietary Limited Date: 31-12-2020 11:53:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.