CBZ : Amalgamation of CBZ Bank Limited and CBZ Building Society

NOTICE TO

SHAREHOLDERS

AMALGAMATIONNoticeOFtoCBZ BANKShareholdersLIMITED AND CBZ BUILDING SOCIETY

The Board of Directors (the "Board") of CBZ Holdings Limited (the "Company") wishesWithdrawalto advise all shareholdersof Cautionaryand the investing publicAnnouncementthat the Board approved to merge the operations of CBZ Bank Limited and CBZ Building Society into one entity, CBZ Bank Limited.

Shareholders are referred to the Cautionary Statements issued by

We further advise that on 20 May 2022, the Minister of Finance & Economic Developmentthe CBZ Holdingsapproved theLimitedamalgamation(the Company)of CBZ BankBoardLimitedduringand CBZthe courseBuilding of Societyyearsas2017,required2018in termsand of2019section. 25(5) of the Banking Act [Chapter 24:20].

Following the approval, a public notice was issued in the Gazette on 12 August 2022, in termsCBZofBanksectionLimited25(6) ofhasBankingbeenActco[Chapter-operating24:20]ininvestigationsadvising of the approvalby of the amalgamation. The Company has now surrendered the Building Society licence

the Office of Foreign Asset Control (OFAC) regarding historical

to the Registrar of Building Societies for cancellation in terms of section 14(3) of

transactions involving a party that was subject to OFAC economic

Building Societies Act [Chapter 24:02].

sanctions. OFAC has concluded its investigations and the matter has

Webeenadviseresolvedthat the Companythroughintendsthe issuanceto finalise ofandaoperationalizeCautionarytheLetteramalgamation. effective 30 September 2022.

As a result thereof, the contents of the previous Cautionary

The amalgamation is going to be effected through consolidation of all assets, liabilities

Announcements have ceased to have any relevance or effect on

and equity of CBZ Bank Limited and CBZ Building Society into one entity, CBZ Bank

Limitedthe. Company and caution is no longer required to be exercised by shareholders when dealing in their securities.

We advise accordingly as Shareholders continue to deal in the Company's shares.

By order of the Board

BY ORDER OF THE BOARD

Rumbidzayi Angeline Jakanani

GROUPRumbidzayiLEGAL CORPORATEAngeline SECRETARYJakanani

Group Legal Corporate Secretary

REGISTERED HEAD OFFICE

5 Campbell Road

PomonaREGISTERED HEAD OFFICE

Borrowdale5th Floor, Union House

Harare,60 ZimbabweKwame Nkrumah Avenue

Telephone: (263-4) 748 050 - 79

Harare, Zimbabwe

Email: info@cbzh.co.zw

Telephone: 0242 - 748 050 - 79

03 OctoberEmail: info@cbz2022 .co.zw

DIRECTORS:31 August 2020

Marc L Holtzman, Edward E. Galante, Rebecca L. Gaskin Gain, Louis C. Gerken,

Edward U. Mashingaidze, Blessing Mudavanhu* (Group Chief Executive Officer),

Tawanda L. Gumbo*(Group Chief Finance Officer)

* Executive Director

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