Trustco : Third Addendum To The Specific Repurchase Transaction

TRUSTCO GROUP HOLDINGS LIMITED Incorporated in the Republic of Namibia (Registration number 2003/058)

Registered as an external company in South Africa (External registration number 2009/002634/10) NSX share code: TUC

JSE share code: TTO OTCQX share code: TSCHY ISIN Number: NA000A0RF067 ("Trustco" or "the Group")

THIRD ADDENDUM TO THE SPECIFIC REPURCHASE TRANSACTION

Shareholders are referred to the announcement released on SENS on 20 August 2021 regarding the agreement entered into between Trustco Capital (Pty) Ltd ("Trustco Capital") and Constantia Risk and Insurance Holdings Limited ("Constantia") in terms of which Trustco

Capital shall repurchase 51 769 633 Trustco shares from Constantia at a rate of NAD 1.81 per share ("the Specific Repurchase").

Reference is further made to the announcement released on SENS on 28 January 2022 in terms whereof the Parties entered into a second addendum to the Sale and Purchase of Shares Agreement ("Agreement") to extend the date for the completion of the Conditions Precedent to 30 April 2022.

Shareholders are advised that the parties entered into a third addendum in terms whereof the date for the completion of the Conditions Precedent was extended to 31 August 2022.

Windhoek, Namibia, 29 April 2022

Komada Holdings (Pty) Ltd

Company Secretary and Investor Relations Services to Trustco Group Holdings Limited

JSE Sponsor

Vunani Corporate Finance - Johannesburg

NSX Sponsor

Simonis Storm Securities Proprietary Limited - Windhoek

OTCQX Sponsor

J.P Galda & Co - New York