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Title: TRUSTCO REQUESTS DELISTING FROM CURRENT EXCHANGES IN PREPARATION FOR NASDAQ MOVE

Windhoek, Khomas, Namibia, 22nd Jan 2025 - Trustco Group Holdings Limited ("Trustco" or "the Company") announced today that its Board of Directors is evaluating options to delist from its primary listing on the Johannesburg Stock Exchange (JSE), its secondary listing on the Namibian Stock Exchange (NSX), as well as the OTCQX Market in the United States."For nearly two decades, Trustco has maintained its listing in Southern Africa, serving a predominantly local shareholder base,” said Quinton van Rooyen, CEO of Trustco Group Holdings. "However, we've witnessed a significant shift in our investor demographics, with a substantial portion of our shareholders now based in the United States. This natural evolution, combined with our planned Nasdaq listing, positions us to better serve our investors and enhance shareholder value."Quinton van Rooyen, CEO of Trustco Group HoldingsThe proposed delisting process will include the appointment of an independent expert to provide an updated fairness opinion as required by JSE Listings Requirements. Trustco is engaging with the affected stock exchanges regarding a formal delisting proposal.The Company has also requested an immediate suspension of share trading due to several factors affecting market information symmetry. The ongoing engagement with the JSE regarding the delisting process presents challenges in coordinating with shareholders across different time zones and jurisdictions, creating potential information gaps until the formal delisting announcement and offer are made. Additionally, the Company is currently undergoing three simultaneous audits - a PCAOB audit by USA auditors for Nasdaq requirements, along with South African and Namibian audits - each with different jurisdictional requirements and reporting periods. This sit...

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