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Title: TRUSTCO ISSUES SHARES TO INDEPENDENT NON-EXECUTIVE DIRECTORS

Windhoek, Khomas, Namibia, 13th Aug 2024 – Trustco Group Holdings Limited (JSE: TTO; NSX: TUC; OTCQX: TSCHY) is pleased to announce a proposal for ad hoc compensation in lieu of historical Independent Non-Executive Directors (INEDs) compensation during successive years.The INEDs voluntarily implemented a 20% reduction in their compensation, effective 1 April 2020. The reduction was implemented alongside the Company's proactive response to the unknown economic ramifications of the COVID-19 pandemic at the time and was part of a comprehensive strategy to bolster the Company's reserves. The reduced compensation structure remained in effect through 2022, at which point a further organizational restructuring resulted in additional reductions. This revised compensation framework has remained constant to date.Dr Quinton van Rooyen, CEO of Trustco Group Holdings LimitedIn acknowledgment of their ongoing commitment and financial concessions, Trustco proposes a one-time issuance of equity instruments to the INEDs. The proposed share allocation is a total of 9,500,000 ordinary shares and will be issued as follows:• Adv. Raymond Heathcote SC, Chairperson: 3,000,000 ordinary shares• Mr. Winton Geyser, Chairperson of the Audit and Risk Committee: 2,000,000 ordinary shares• Mr. Renier Taljaard, Independent Non-Executive Director: 1,500,000 ordinary shares• Ms. Janene van den Heever, Independent Non-Executive Director: 1,500,000 ordinary shares• Mr. Tom Newton, Independent Non-Executive Director: 500,000 ordinary shares• Mr. Richard Chetwode, Independent Non-Executive Director: 500,000 ordinary shares• Mr. Stanley Similo, Independent Non-Executive Director: 500,000 ordinary shares.The issuance price of the equity instruments will be determined based on the 30-day volume-weighted averag...

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