LABAT AFRICA LIMITED - Acquisition Of The Additional 49% Of Ahnamu Investments (Pty) Ltd

Acquisition Of The Additional 49% Of Ahnamu Investments (Pty) Ltd

LABAT AFRICA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1986/001616/06)
("Labat Africa" or "the Company")
ISIN Code: ZAE000018354 Share Code: LAB
FSE Code: LEI 9845000R73DF5EE41J88


ACQUISITION OF THE ADDITIONAL 49% OF AHNAMU INVESTMENTS (PTY) LTD



Shareholders are advised that Labat Africa Limited ("Labat") has entered into a
Memorandum of Agreement ("MOA") to acquire an additional shareholding of 49% in
Ahnamu Investments (Pty) Ltd ("Ahnamu") from the current shareholder, Mr Humza Khan
("the Transaction")who is an unrelated party.

Labat previously acquired 51% of Ahnamu from Mr Christopher Mark, as announced on
SENS on 4 March 2025, who subsequently disposed of his entire shareholding in Labat
therefore the Transaction will result in Ahnamu becoming a wholly owned subsidiary of
Labat.


Background of Ahnamu

Ahnamu Investments (Pty) Ltd is an ICT solutions provider specialising in cutting-edge
hardware infrastructure and AI-enabled technology solutions serving:

   •   Government departments
   •   Parastatals
   •   Large enterprise clients
   •   Critical infrastructure sectors

Ahnamu provides high-performance computing hardware, AI analytics capability, and
disruptive engineering solutions aimed at improving operational efficiency in complex
enterprise environments.

The company has established a strong footprint across the SADC region, supplying
integrated ICT hardware solutions and enterprise infrastructure technology.

Based on the latest available management accounts for the nine-month period ended 30
November 2025, Ahnamu reported net assets of approximately R185.1 million and profit
after tax of approximately R41.9 million.

Rationale for Acquisition

The Transaction forms part of Labat's broader strategy to expand its technology and ICT
infrastructure portfolio, while strengthening the Company's participation in the rapidly
growing AI, data analytics and enterprise technology solutions sector.
The Board believes that full ownership of Ahnamu significantly enhances Labat's long-term
technology strategy.

Key strategic benefits include:


Secured Long-Term Revenue Contract
Ahnamu has entered into a binding five-year supply and services agreement with Shafi
Incorporated. The agreement provides for the delivery of ICT infrastructure, hardware
solutions and related services over the contract term, with an estimated revenue run-rate
of R200 million per annum. This contract underpins Ahnamu's established market position
and provides strong revenue visibility within its core operating segments.

Vertical Integration of Technology Platforms
The acquisition enables Labat to integrate hardware infrastructure, enterprise ICT solutions
and software capabilities, creating a comprehensive technology ecosystem across the
group.

Expansion of AI-Enabled Infrastructure Solutions
Ahnamu's focus on AI-driven analytics and advanced computing infrastructure positions
Labat to capitalise on increasing demand for intelligent enterprise technology solutions.

Operational Synergies
The transaction will allow Labat to streamline decision-making and capital allocation within
Ahnamu and accelerate technology deployments across government and enterprise
clients leverage Labat's listed platform to support Ahnamu's growth trajectory.

Salient Terms of the Transaction

In terms of the MOA:
    • Labat will acquire 49% of the issued share capital of Ahnamu from Mr Humza Khan
    • The purchase consideration is R40 million.
    • The consideration will be settled through the issue of 400 000 000 Labat ordinary
       shares at an issue price of R0.10 per share.
    • Following completion of the transaction, Labat will hold 100% of the issued share
       capital of Ahnamu.

Following implementation of the Transaction, Ahnamu will become a wholly owned
subsidiary of Labat and its Memorandum of Incorporation will be amended, where required,
to ensure compliance with Schedule 2 of the JSE Listings Requirements in accordance with
Section 8.13.

Conditions Precedent

   •   Receipt of updated management accounts of Ahnamu
   •   Delivery of profit forecasts for the period ending 2029
   •   Receipt of any required regulatory approvals, including approval from the JSE where
       applicable

Categorisation of the Transaction

Based on Labat Africa's current market capitalisation, the Acquisition constitutes a
Category 2 transaction in terms of the JSE Listings Requirements and accordingly does not
require shareholder approval.
Effective Date

The effective date of the transaction will be the first business day following fulfilment or
waiver of the conditions precedent.


Board Commentary

The Board believes that consolidating full ownership of Ahnamu represents a strategic
milestone for Labat's technology division.

The acquisition strengthens Labat's position within the ICT infrastructure, AI analytics and
enterprise technology sectors, while unlocking additional value through operational
integration and accelerated growth opportunities.

The Board believes the Transaction positions Labat to capture meaningful growth in the
rapidly evolving technology infrastructure market across South Africa and the broader
African region.

Responsibility Statement

The board of Labat Africa takes full responsibility for the information contained in this
announcement and confirms that, to the best of its knowledge and belief, the information
is true and that this announcement does not omit anything likely to affect the importance
of such information.


Further announcements will be made in due course, if required.

By order of the Board
Labat Africa Limited


JOHANNESBURG
20 March 2026

JSE Sponsor
Vunani Sponsors

Date: 20-03-2026 04:31:00
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