enX GROUP LIMITED — Capital/Financing Update 2026

Apr 30, 2026

ENX GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2001/029771/06)
Share code: ENX
ISIN: ZAE 000222253
Listed on the General Segment of the Main Board ("enX" or "the Company")
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enX
GROUP

CLOSING OF TRANSACTION - DISPOSAL BY ENX OF ITS REMAINING INTEREST IN WEST AFRICAN INTERNATIONAL ("WAI")

Unless otherwise defined herein, capitalised words and terms contained in this announcement shall bear the meanings ascribed thereto in the Circular (defined below).

1. INTRODUCTION

1.1. Shareholders are referred to the Firm Intention Announcement released by enX on SENS on Friday, 20 February 2026 relating to, inter alia, the written notice delivered by Trichem SA of its intention to exercise its option to acquire the remaining 75% interest in WAI ("Transaction") and to the subsequent circular distributed to Shareholders on Thursday, 5 March 2026 ("Circular").

1.2. Shareholders are further referred to the announcements released on SENS on Wednesday, 22 April 2026, whereby Shareholders were advised that the Transaction had become unconditional, and on Friday, 24 April 2026, which confirmed receipt of the requisite compliance certificate from the Takeover Regulation Panel to implement the Transaction.

2. CLOSING OF TRANSACTION

2.1. The Company is pleased to advise Shareholders that the Transaction closed today, Thursday, 30 April 2026 and that the Full Ownership Option Subscription Price and accordingly the Full Ownership Option Repurchase Price in the amount of R294.690 million has been received by the relevant parties in accordance with the Agreement, which remains subject to an audit review of the Effective Date Accounts and the post-closing adjustment mechanism provided for in the Agreement.

2.2. Concurrently with the closing of the Transaction, arrangements have been put in place for the release, in accordance with the Agreement, of the security amounting to R107.3 million (plus accrued interest for the benefit of the Company) associated with the Put Option.

2.3. Shareholders are further advised that, subject to the finalisation of the audit review and post-closing adjustment processes, and having regard to customary regulatory and operational considerations, the Board intends to consider a return to Shareholders of the majority of the net surplus cash arising from the Transaction, as contemplated in paragraph 4.3 of the Firm Intention Announcement. A further announcement regarding the form, quantum and timetable of any such return of net surplus cash will be released on SENS in due course.

Johannesburg
30 April 2026

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Transaction Advisor and Sponsor to enX:
Valeo Capital (Pty) Ltd

Valeo Capital

Legal Advisors to enX:
Munro Smith Parker Law and Thomson Wilks

MUNRO SMITH PARKER

Legal Advisor to Tricon Group: Kaufmann, Manolios, Schepers Inc. t/a Andersen in South Africa

ANDERSEN.