NOTICE OF DIVIDEND CURRENCY EXCHANGE RATE (SOUTH AFRICAN RAND)

On 29 January 2026, the Company announced its quarterly dividend for the period ended 31 December 2025 of 1.70250 euro cents per share.

The currency exchange rate applicable for the quarterly dividend payable in South African cents to shareholders on the South African register is based on the exchange rate on 16 February 2026 and is set out below:

The gross dividend in South African cents per share of 31.84356 will be subject to Irish Dividend Withholding Tax ("Irish DWT") at a rate of 25% (equalling 7.96089 SA cents per share), which will be withheld from the gross dividend paid to SA shareholders. After the deduction of Irish DWT, the net amount of the dividend will be 23.88267 SA cents per share.

Shareholders tax resident in South Africa can apply for a refund of the full amount of the Irish DWT withheld from the Irish Revenue Commissioners. A refund of Irish DWT can be claimed by shareholders tax resident in South Africa in accordance with the relevant process noted in the announcement published on SENS on 29 January 2026.

The dividend may also be subject to SA Dividends Tax at the rate of 20% (equalling 6.36871 SA cents per share), unless a shareholder qualifies for an exemption ("SA DWT"). After the deduction of Irish DWT and SA DWT, the net amount of the dividend will be 17.51396 SA cents per share.

Any shareholder who receives a dividend which is subject to SA DWT (i.e. where no exemption is available) will qualify for a reduction in SA DWT in respect of Irish DWT, to the extent that the Irish Revenue Commissioners does not allow the refund of the Irish DWT after application for same.

The ultimate result, should Irish DWT be refunded, is that the dividend will be subject to SA DWT at a rate of 20% (unless a shareholder qualifies for an exemption from SA DWT).

Summary table

Notes:

1.   Shareholders tax resident in South Africa can apply for a refund of Irish DWT withheld from the Irish Revenue Commissioners.

2.   Any shareholder who receives a dividend which is subject to SA DWT (i.e where no exemption is available) will qualify for a reduction in SA DWT in respect of the Irish DWT, to the extent that the Irish Revenue Commissioners does not allow the refund of the Irish DWT after application for same. 

Shareholders should seek independent professional tax advice if they are uncertain about their tax position.

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Ireland

16 February 2026

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Valeo Capital (Pty) Ltd

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