Zeder Unbundling: Closing Price of Zeder Investments Limited and Kaap Agri Limited Shares on Record Date

ZEDER INVESTMENTS LIMITED

(Incorporated in the Republic of South Africa)

(Registration number: 2006/019240/06) Share code: ZED

ISIN: ZAE000088431

LEI: 37890022AF5FD117D649 ("the Company" or "Zeder")

ZEDER UNBUNDLING: CLOSING PRICE OF ZEDER INVESTMENTS LIMITED AND KAAP AGRI LIMITED SHARES ON RECORD DATE

Shareholders are referred to the announcements published by the Company on the Stock Exchange News Service on 28 February 2022, 22 March 2022 and 31 March 2022 regarding the unbundling of the Company's shareholding in Kaap Agri Limited ("Kaap Agri") ("Zeder Unbundling"). In particular, the Company intends to unbundle 31 286 956 Kaap Agri no par value ordinary shares, comprising approximately 42.2% of the total issued share capital of Kaap Agri, to shareholders of Zeder ("Shareholders") by way of a pro rata distribution in specie, in the ratio of 1 Kaap Agri share for every 49.22692 Zeder shares held by Shareholders on the record date of the Zeder Unbundling.

As per the applicable JSE Limited corporate action timetable, the Company advises that, on

1 April 2022, the closing price of Zeder ordinary shares amounted to R2,67 per share and of Kaap Agri ordinary shares amounted to R46,00 per share respectively.

Stellenbosch

1 April 2022

Transaction Advisor and Sponsor

Independent Joint Sponsor

PSG Capital

Tamela Holdings