MCB : Communique

COMMUNIQUE

SCRIP DIVIDEND SCHEME

Further to the Communiqué issued on 28th September 2023, the Board of Directors (the "Board") of MCB Group Limited (the "Company") wishes to inform its shareholders and the public at large that the Stock Exchange of Mauritius Ltd has approved the issue and listing, on the Official Market, of up to 9,000,000 new Ordinary Shares (the "Scrip Shares") in accordance with the rules governing the Scrip Dividend Scheme of the Company (the "Rules").

Eligible shareholders (as described in the Rules) will be able to elect for Scrip Shares, provided that their respective Election Form has been received by MCB Registry and Securities Ltd by latest the 8th December 2023, and subject to their existing Ordinary Shares being dematerialised in a CDS account. Eligible shareholders who have already elected for Scrip Shares in relation to the previous dividend declaration are reminded that their instructions shall remain valid and that the submission of new Election Forms is not required unless they wish to modify their choice. The Rules, the related Circular and the Election Form are available for consultation on the Company's website at mcbgroup.com.

The Scrip Price of a Scrip Share, for the purposes of the dividend declaration on the Company's Ordinary Shares dated 28th September 2023, is Rs 315.89. The Scrip Price has been calculated as the five-dayvolume-weighted average of the traded price of the Company's Ordinary Share on the market, beginning with the first ex-dividend date, less a discount of 3%, as described in the terms governing the Scrip Dividend Scheme (the "Rules").

The timetable in relation to the issue of Scrip Shares is as follows:

Last Date to Return Election Form	8th December 2023
Dividend payment/crediting/issue of Scrip Shares	22nd December 2023
First day of trading	26th December 2023
By Order of the Board	28th November 2023
MCB Group Corporate Services Ltd
Company Secretary

This Communiqué is issued pursuant to Listing Rules 11.3 and the Securities Act 2005.

The Board of the Company accepts full responsibility for the accuracy of the information contained in this Communiqué.