COMMUNIQUE

The Board of Directors (the "Board") of MCB Group Limited (the "Company") wishes to inform its shareholders and the investing public in general of the following:

SCRIP DIVIDEND

Further to the Communiqué issued on the 28th November 2023, the Board has approved the issue of 2,407,045 Ordinary Shares, under the terms of the Scrip Dividend Scheme and the related Circular, for a total consideration of Rs. 760,361,445.05 to shareholders who have opted for Scrip Shares in respect of the dividend declaration on the Company's Ordinary Shares dated 28th September 2023.

GROUP EMPLOYEE SHARE OPTION SCHEME

Following the offering of 1,017,660 options to employees under the Group Employee Share Option Scheme in October 2023, a total of 148,626 options were exercised during the first transfer window of the scheme, for a total consideration of Rs. 48,452,076-. The balance of 869,034 options will lapse around the 15th October 2024.

CONVERSION OF PREFERENCE SHARES INTO ORDINARY SHARES

Further to the Communiqué issued on 22nd November 2023, the Company has received requests from holders of Preference Shares to convert an aggregate of 23,433,292 Preference Shares into Ordinary Shares. In this context, the Board has approved the issue of 755,562 Ordinary Shares of the Company for a total consideration of Rs. 234,314,887.44.

ISSUE AND LISTING OF THE NEW ORDINARY SHARES

As a result of the above transactions, a total of 3,311,233 new Ordinary Shares have been issued on 22nd December 2023 by the Company for listing on the Stock Exchange of Mauritius Ltd, and shall be available for trading on 26th December 2023. The number of Ordinary Shares in issue now stands at 253,051,568.

The Company wishes to thank the shareholders for their on-going commitment, trust and support.

By Order of the Board

22nd December 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.

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MCB Group Ltd. published this content on 22 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 December 2023 10:58:32 UTC.