Medscheme wins 17-year-old legal battle AfroCentric Investment Corporation Limited (Incorporated in the Republic of South Africa) (Registration number 1988/000570/06) JSE Code: ACT ISIN: ZAE000078416 ("AfroCentric") Medscheme wins 17-year-old legal battle AfroCentric is pleased to inform shareholders that after navigating a 17-year-long arbitration process, Medscheme, an AfroCentric Group Company, has welcomed an arbitrator's decision to dismiss all the claims brought against it by software developer, Neil Harvey & Associates (NHA), as baseless. The arbitrator also awarded costs in Medscheme's favour. NHA's claims arose out of a Confidentiality Agreement and Software Licence Agreement concluded with Medscheme in 2003 and in 2004, respectively. NHA launched proceedings against Medscheme and others in 2007 claiming damages on multiple causes of action, including fraudulent misrepresentation, unlawful competition, and emulation of software functionality. The total quantum of the claims was initially approximately R80 million but over the years the claims grew vastly in quantum and scope and at one stage exceeded R2 billion. Management is pleased with the outcome of the matter as it confirms the integrity of the Group's practices and processes. Johannesburg 27 March 2024 JSE Sponsor to AfroCentric Questco Corporate Advisory Proprietary Limited Date: 27-03-2024 10:00:00 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.