ARAXI LIMITED — M&A Activity 2026

May 28, 2026

Araxi Limited
(Previously Capital Appreciation Limited)
Incorporated in the Republic of South Africa
(Registration number 2014/253277/06)
Share code: AXX
ISIN: ZAE000208245
("Araxi" or "the Company")

Araxi
LIMITED

CATEGORY 1 TRANSACTION: FULFILMENT OF CONDITIONS PRECEDENT AND CLOSING

Unless otherwise defined in this announcement, words and expressions contained herein shall have the same meanings as assigned to them in the Circular released on Thursday, 9 April 2026.

Araxi Shareholders are referred to the announcement released on SENS and the Circular distributed to Shareholders on Thursday, 9 April 2026, advising that the Proposed Acquisition is subject to the fulfilment (or where applicable, waiver) of certain Conditions Precedent.

The Company is pleased to advise Araxi Shareholders that all Conditions Precedent, including all regulatory approvals required under the Transaction Agreements concerning the Proposed Acquisition of Pay@ have now been fulfilled or waived and consequently the transaction has been concluded.

28 May 2026

Johannesburg

Transaction Advisor and Transaction Sponsor: PSG Capital

PSG CAPITAL

Legal advisors to Araxi: Werksmans

WERKS MANS
ATTORNEYS