EnX : Results of Mandatory Offer

ENX GROUP LIMITED

(Incorporated in the Republic of South Africa) (Registration number 2001/029771/06)

JSE share code: ENX ISIN: ZAE000222253 ("enX" or "the Company")

RESULTS OF MANDATORY OFFER

1. Introduction
   Shareholders are referred to the respective announcements released on the Stock Exchange News Service in relation to a mandatory offer for enX shares by MCC Contracts Proprietary Limited and African Phoenix Investments Limited (collectively the "Offerors"), acting in concert, regarding the proposed acquisition of the remaining shares in enX at an offer consideration of R5.60 per share (the "Offer Consideration") in terms of section 123 of the Companies Act 71 of 2008 (the "Mandatory Offer"). Shareholders are further referred to the combined offer circular containing full details of the Mandatory Offer published on Friday, 8 April 2022 (such circular, as amended, the "Circular").
2. Mandatory Offer results
   Shareholders are advised that the Mandatory Offer, which closed at 12:00 on Friday, 3 June 2022, was accepted in respect of 103 371 enX shares, comprising 0.06% of enX's issued share capital. Accordingly, once all acceptances have been settled, the Offerors will collectively hold 37.83% of the issued share capital of enX.
3. Responsibility statements
   The enX Independent Board accepts responsibility for the information contained in this announcement insofar as it relates to enX, and certifies that, to the best of its knowledge and belief, such information contained herein is true and nothing has been omitted which is likely to affect the import of such information.
   The Offerors accept responsibility for the information contained in this announcement insofar as it relates to the Offerors, and certify that, to the best of their knowledge and belief, the information contained in this announcement relating to the Offerors is true and nothing has been omitted which is likely to affect the import of such information.

6 June 2022

Transaction Sponsor to enX

The Standard Bank of South Africa Limited

Corporate advisor to the Offerors

Java Capital

Legal advisor to enX

Bowman Gilfillan Inc.