Datatec : Results of the cash dividend and the scrip distribution alternative

Datatec Limited

(Incorporated in the Republic of South Africa) (Registration number: 1994/005004/06) ISIN: ZAE000017745

Share Code: DTC

("Datatec" or "the Company")

RESULTS OF THE CASH DIVIDEND AND THE SCRIP DISTRIBUTION ALTERNATIVE

Datatec shareholders ("Shareholders") are referred to the announcement regarding the Company's audited financial results for the year ended 28 February 2022 and declaration of a cash dividend with a scrip distribution alternative released on the Stock Exchange News Service ("SENS") of the JSE Limited ("JSE") on Tuesday, 24 May 2022, in terms of which the board of directors of the Company declared a gross cash dividend of 111 ZAR cents (" Cash Dividend") per Datatec ordinary share ("Datatec Share") held on the record date, being Friday, 15 July 2022 ("Record Date"). Shareholders were advised that they would be entitled to elect to receive a scrip distribution of new, fully paid Datatec Shares in proportion to their ordinary shareholding in Datatec on the Record Date instead of the Cash Dividend ("Scrip Distribution" or "Scrip Distribution Alternative").

Shareholders were entitled to receive the Cash Dividend of 111 ZAR cents per Datatec Share in respect of their shareholding as at the close of trading on the JSE on the Record Date, being Friday, 15 July 2022, in proportion to their ordinary shareholding in Datatec and to the extent that such Shareholders had not elected to receive the Scrip Distribution Alternative in respect of all or a part of their shareholding.

Shareholders were entitled to elect to receive that number of Scrip Distribution shares determined in the ratio of 3.01824 Scrip Distribution shares for every 100 ordinary shares held on the Record Date, instead of the Cash Dividend.

Shareholders recorded in the register of the Company at the close of business on the Record Date holding 58 339 399 Datatec Shares did not elect to receive the Scrip Distribution Alternative and will therefore receive the gross Cash Dividend of 111 ZAR cents per Datatec Share (where applicable, 88 ZAR cents per Datatec Share, net of applicable Dividend Withholding Tax) resulting in a total gross Cash Dividend of ZAR64,756,732.89 which was paid out of the distributable retained profits of the Company.

In terms of the Scrip Distribution Alternative, 4,787,467 new Datatec Shares were issued today to Shareholders who elected to receive the Scrip Distribution shares in respect of all or part of their shareholding, resulting in a capitalisation of distributable retained profits of the Company of ZAR176,083,036.30.

The Cash Dividend payments were made, and Central Securities Depository Participant/broker accounts of dematerialised Shareholders and certificated Shareholders were credited today. No share certificates were dispatched to certificated shareholders in respect of the Scrip Distribution.

Johannesburg

18 July 2022

Sponsor

Rand Merchant Bank (A division of FirstRand Bank Limited)

Legal Advisors

Bowmans