Shareholders of Transcend are referred to the circular distributed to them on 1 September 2023 relating to the offer by Emira Property Fund Limited to acquire all of the issued ordinary shares in the share capital of Transcend (Transcend Shares) from the Transcend Shareholders by way of a scheme of arrangement ("Scheme") in terms of section 114 of the Companies Act, 71 of 2008, as amended (Companies Act), and to all previous announcements relating to the Scheme, the last of which was dated 18 October 2023. Terms defined in the Scheme Circular will, where used in this announcement, bear the same meaning as ascribed to them in the Scheme Circular. The Transcend Board has accordingly approved and declared a Clean-out Distribution of 29.44 cents perTranscend Share.

The last day to trade in Transcend Shares to be recorded in the Register on the Clean-out Distribution Record Date is 7 November 2023. The Clean-out Distribution Record Date is 10 November 2023 and the Clean-out Distribution will be paid to Transcend Shareholders on 13 November 2023.