MASTER DRILLING GROUP LIMITED - Dealings in Securities by a Director of the Company

Dealings in Securities by a Director of the Company

Master Drilling Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 2011/008265/06)
JSE share code: MDI
ISIN: ZAE000171948
("Master Drilling" or the "Company")

DEALINGS IN SECURITIES BY A DIRECTOR OF THE COMPANY

Alternate director, Gareth Robert Sheppard, is undertaking a process to rearrange the ownership of a portion
of his interest in Master Drilling, by transferring 1 727 548 Master Drilling ordinary shares, in which he
previously held an indirect beneficial interest, from the MDI Employees Trust (the "Trust"), into his own name.
This results in a change from an indirect beneficial interest to a direct beneficial interest, with no change to the
total number of shares in which he has a beneficial holding.

In compliance with the JSE Limited ("Listings Requirements") the following information is disclosed:

Name of director                     Gareth Robert Sheppard
Name of company                      Master Drilling
Date transaction was effected        10 December 2025
Class of security                    Ordinary shares
Deemed share price                   R15,22
Number of shares                     1 727 548
Deemed value of transaction          R26 293 280,56
Nature of transaction                Off market transfer of ordinary shares. The Trust
                                     has transferred 1 727 548 Master Drilling shares from the Trust into
                                     Sheppard's own name.
Nature of interest                   Change from indirect beneficial interest to direct beneficial interest


Clearance in terms of paragraph 3.66 of the Listings Requirements was obtained.



Fochville
12 December 2025



Sponsor
Investec Bank Limited

Date: 12-12-2025 02:18:00
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