Caxton and CTP Publishers and Printers : Acquisition of the Operations of Amcor Flexibles South Africa Proprietary Limited

CAXTON AND CTP PUBLISHERS AND PRINTERS LIMITED

Incorporated in the Republic of South Africa

(Registration number: 1947/026616/06)

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ACQUISITION OF THE OPERATIONS OF AMCOR FLEXIBLES SOUTH AFRICA PROPRIETARY LIMITED

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Caxton announced on 5 April 2022, that CTP Limited ("CTP"), a wholly owned subsidiary of the Company, had concluded an agreement for the acquisition, as a going concern, of the Amcor Cape Town Bag in Box and Pouching operations and the Amcor Port Elizabeth operations in South Africa of Amcor Flexibles South Africa Proprietary Limited ("Amcor"), subject to approval of the Competition Authorities.

Caxton is pleased to announce that merger approval without conditions was granted at the end of July 2022, and the acquisition has now been implemented with effect from 1 August 2022.

The Amcor operation in Cape Town produces bag-in-a-box bladders and is a complementary, natural fit with the CTP cartons operation in Epping that produces bag-in-a- box cartons for the wine industry, a sector which is showing increasing growth. A further benefit is that the Amcor Cape Town factory is almost adjacent to CTP's flexibles business in Ndabeni.

The Amcor operation in Port Elizabeth extrudes film, slits and embosses liners for the automotive tyre industry and has produced consistent results for the past few years.

A preliminary review of the acquisition confirms Caxton's initial assessment, that the transaction will complement Caxton's existing businesses and will be value accretive. Operational integration is already under way, with pleasing prospects.

Johannesburg

3 August 2022

Sponsor

AcaciaCap Advisors Proprietary Limited