SBN : Voluntary Announcement

SBN Holdings Limited

("SBN Holdings" or "the Group")

Registration No. 2006/306

Registered in Namibia

ISIN: NA000A2PQ3N5

VOLUNTARY ANNOUNCEMENT

In accordance with paragraph 3.4(a) (i) and (ii) of the NSX Listings Requirements, an issuer must publish a statement when any circumstance(s) or event(s) arise that will have or is likely to have a material effect (either positive or negative) on the financial results, financial position or cash flow of such issuer and/or any of its material subsidiaries.

Shareholders are therefore advised that Standard Bank Namibia Limited, a 100% owned subsidiary of SBN Holdings Limited (the company), has entered negotiations, which, if successfully concluded may have or are likely to have a material effect on the financial results, financial position, or cash flow of the subsidiary as well as the Company. The nature of the transaction is in the ordinary course of business for the subsidiary. Standard Bank Namibia Limited will acquire property-owning entities as part of a debt settlement transaction.

The transaction is still subject to various regulatory approvals, including those from the Bank of Namibia, Namibian Competition Commission and the South African Reserve Bank and can only be implemented after these approvals have been received.

By order of the board

Mercia Geises

Chief Executive

6 April 2022

Registered Office

1 Chasie Street, Windhoek, Namibia

Directorate

BOARD OF DIRECTORS:

HERBERT MAIER (CHAIRMAN)

ISAC TJOMBONDE

JERRY MUADINOHAMBA

PETER SCHLEBUSCH

NATASHA BASSINGTHWAIGHTE

BIRGIT ROSSOUW

MARIA SHIVUTE DAX

ALPHEUS MANGALE

MERCIA GEISES

LETITEA DU PLESSIS

Sponsor

IJG Securities (Pty) Ltd

Member of the NSX

4th Floor, 1@Steps

c/o Grove and Chasie Street

Kleine Kuppe

P O Box 186, Windhoek, Namibia

Registration No. 95/505