Deneb Investments : Acceptance Of Options Granted In Terms Of The Deneb Investments Employee Share Scheme

DENEB INVESTMENTS LIMITED Registration number: 2013/091290/06 (Incorporated in the Republic of South Africa) JSE share code: DNB

ISIN: ZAE000197398

("Deneb" or the "Company")

ACCEPTANCE OF OPTIONS GRANTED IN TERMS OF THE DENEB INVESTMENTS EMPLOYEE SHARE SCHEME

In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information is disclosed:

1.

NAME OF DIRECTOR	S A Queen
COMPANY OF WHICH I AM A DIRECTOR	Deneb
STATUS: EXECUTIVE/NON-EXECUTIVE	Executive
TYPE OF SECURITIES	Options to subscribe for ordinary shares
CLASS OF SECURITIES	Ordinary
DATE OF SHARE OPTION ACCEPTANCE	29 June 2022
OPTION STRIKE PRICE (CENTS)	211
NUMBER OF OPTIONS ALLOCATED	2,116,260
TOTAL RAND VALUE OF OPTIONS	R4,465,308.60
VESTING DATES OF OPTIONS	The options will vest in 4 tranches, on the
	following dates:
	10% from 29 June 2023
	20% from 29 June 2024
	30% from 29 June 2025
	40% from 29 June 2026
PERIOD OF EXERCISE	5 years from grant of options
NATURE AND EXTENT OF INTEREST IN	Direct, beneficial
TRANSACTION
NATURE OF TRANSACTION	Acceptance of options to subscribe for
	ordinary shares in terms of a share
	incentive scheme (off-market transaction)
CLEARANCE OBTAINED	Yes
2.
NAME OF DIRECTOR	G D T Wege
COMPANY OF WHICH I AM A DIRECTOR	Deneb
STATUS: EXECUTIVE/NON-EXECUTIVE	Executive
TYPE OF SECURITIES	Options to subscribe for ordinary shares
CLASS OF SECURITIES	Ordinary
DATE OF SHARE OPTION ACCEPTANCE	29 June 2022
OPTION STRIKE PRICE (CENTS)	211
NUMBER OF OPTIONS ALLOCATED	966,126
TOTAL RAND VALUE OF OPTIONS	R2,038,525.86
VESTING DATES OF OPTIONS	The options will vest in 4 tranches, on the
	following dates:

	10% from 29 June 2023
	20% from 29 June 2024
	30% from 29 June 2025
	40% from 29 June 2026
PERIOD OF EXERCISE	5 years from grant of options
NATURE AND EXTENT OF INTEREST IN	Direct, beneficial
TRANSACTION
NATURE OF TRANSACTION	Acceptance of options to subscribe for
	ordinary shares in terms of a share
	incentive scheme (off-market transaction)
CLEARANCE OBTAINED	Yes

Cape Town

30 June 2022

Sponsor

PSG Capital