TRUSTCO GROUP HOLDINGS LIMITED - Update on American Depositary Receipt ("ADR") Programme

Update on American Depositary Receipt ("ADR") Programme

     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)
     JSE Share code: TTO
     NSX share code: TUC
     OTCQX share code: TSCHY
     ISIN: NA000A0RF067

     ("Trustco" or "the Company")


           UPDATE ON AMERICAN DEPOSITARY RECEIPT ("ADR") PROGRAMME



1.     BACKGROUND
       Shareholders are referred to the announcements published on SENS on 19 August 2014
       and 8 August 2024 regarding the Company's Level III ADR programme, which is traded
       on the OTCQX Best Market in the United States.

2.     TERMINATION OF THE ADR PROGRAMME
       The Bank of New York Mellon ("BNY Mellon") has acted as depositary bank for the ADR
       programme since its inception. Trustco and BNY Mellon have agreed to terminate the
       ADR programme, with formal cancellation expected to become effective on or about 23
       March 2026, in accordance with the terms of the Depositary Agreement.


3.     ADR HOLDER PROCESS
       In terms of the Depositary Agreement, holders of Trustco ADRs will have until at least 26
       March 2027 to surrender their ADRs for delivery of the underlying ordinary shares. Such
       shares may thereafter be transferred to a South African and/or Namibian brokerage
       account in accordance with applicable settlement procedures.


4.     STRATEGIC RECALIBRATION
4.1 As part of a broader strategic recalibration, Trustco is repositioning its United States
       capital markets interface in alignment with emerging economic opportunities in Namibia.
       This recalibration is informed by significant expansion in Namibia's energy, mining,
       infrastructure and financial sectors, which are attracting increasing international capital
       flows.
4.2 Shareholders will be advised in due course of developments regarding alternative
     structures through which future United States market participation may be enabled.


By order of the board
Windhoek, Namibia
20 February 2026
________________________________________________________________________________________

Company Secretary and Investor Relations Services
Komada Holdings Proprietary Limited
JSE Sponsor

DEA-RU		
NSX Sponsor
Simonis Storm Securities Proprietary Limited – Windhoek

OTCQX Sponsor
J.P. Galda & Co – New York

Date: 20-02-2026 08:45:00
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