REINET INVESTMENTS S.C.A. ANNOUNCES SHARE BUYBACK PROGRAMME

In the last few months Reinet has been investigating a potentially very significant investment opportunity which resulted in Reinet considering itself being in a “closed period”. As a result, Reinet has not been able to communicate with individual shareholders or restart its share buyback programme. It has however now become clear that the investment opportunity will not be pursued in the immediate future, resulting in the “closed period” being lifted. This enables the company to restart the share buyback programme put in place previously.

Reinet Investments S.C.A. (the ‘Company’) intends to purchase its ordinary shares at market value for an aggregate maximum amount of € 500 million subject to a maximum of 16.5 million ordinary shares over a period up to the 2027 Annual General Meeting of the Company. The implementation will be through a number of successive and separate programmes.

In this context, the Company announces today the commencement of the initial share buyback programme (the “Programme”). Under the Programme, the Company intends to purchase ordinary shares at market price for an aggregate maximum amount of € 75 million subject to a maximum of 2.5 million ordinary shares over a period commencing on 22 June 2026 and ending 19 August 2026 at the latest.

The approval of each separate programme will be subject to the conditions and full discretion of Reinet Investments Manager S.A., the general partner of the Company, under the existing authority granted by the Company’s shareholders at the annual general meeting held on 26 August 2025. The Company will seek to renew the buyback approval at the upcoming Annual General Meeting in August 2026 in order to proceed with future programmes.

The purpose of the Programme is to return value to the shareholders of the Company. Shares repurchased under the Programme may be used for any legitimate purpose, such as consideration for acquisitions.

The Programme will be executed on the Johannesburg Stock Exchange by an intermediary. The Company will not at any time have the right to instruct the intermediary to amend the parameters of the Programme allowing the intermediary to execute share repurchases in the market during both open and closed periods.

The Programme will be executed within the limits of the existing authority granted by the Company’s shareholders at the annual general meeting held on 26 August 2025, including but not limited to the current limitation that the repurchase price must be at a price no more than an amount equal to 110% of the reference price of the ordinary shares on the relevant exchange; the reference price being the weighted average price of such ordinary shares during the five days of trading immediately prior to the acquisition of such shares. In addition, buybacks will not be at a price higher than the higher of the price of the last independent trade and the highest current independent bid on the Johannesburg Stock Exchange.

Purchases under the Programme shall not on any trading day on the Johannesburg Stock Exchange (“trading days”) exceed 25% of the average daily volume of the shares traded during the 20 trading days preceding the date of purchase.

Concurrently, the Rupert family has declared its intention not to sell any shares during the duration of this Programme.

The Company will publish regular updates relating to the Programme and a further announcement on completion or expiration of the Programme, all of which will also be available at www.reinet.com/investor-relations/share-buyback-programme.html

Reinet Investments Manager S.A.
for and on behalf of Reinet Investments S.C.A.

Website: www.reinet.com/investor-relations/company-announcements.html