TRUSTCO GROUP HOLDINGS LIMITED Incorporated in the Republic of Namibia (Registration number 2003/058)

Registered as an external company in South Africa (External registration number 2009/002634/10) NSX share code: TUC

JSE share code: TTO

OTCQX share code: TSCHY

ISIN Number: NA000A0RF067 ("Trustco" or "Company")

CAUTIONARY ANNOUNCEMENT: OPTION ON A POSSIBLE EQUITY TRANSACTION WITH AN INDEPENDENT THIRD PARTY TO TAKE UP TO A 70% SHAREHOLDING IN MEYA MINING ("MEYA") FOR A TOTAL SUBSCRIPTION AMOUNT OF UP TO USD 50 MILLION.

Trustco shareholders ("Shareholders") are advised that Trustco Resources (Mauritius) ("Trustco Resources") a 100% owned subsidiary of Trustco Resources (Proprietary) Limited and Meya a 65% owned subsidiary of Trustco Resources, Germinate (SL) Limited ("Germinate") a 35% shareholder of Meya and an independent third party ("the Parties") received a term sheet ("Term sheet") in terms of which an independent third party shall obtain an option to subscribe for such a number of shares ("Subscription Shares") in Meya that it shall have an option to become a shareholder in Meya for up to a 70% for a maximum subscription amount of USD 50 million ("the Subscription Transaction").

It is important to note that the Term Sheet is subject to the necessary board and regulatory approvals, completion of due diligence and conclusion of definitive agreements. Shareholders are advised that it is envisaged that the agreements would be finalised at the end of July 2022.

Trustco believes the Transaction, if successfully concluded, will have a material effect on the price of the Company's securities.

Accordingly, Shareholders are advised to exercise caution when dealing in the Company's securities until a further announcement regarding the Transaction is made. Any questions can be sent via email to the company secretary at komada@tgh.na.

Windhoek, Namibia,

30 June 2022

Komada Holdings (Pty) Ltd

Company Secretary and Investor Relations Services to Trustco Group Holdings Limited

JSE Sponsor

Vunani Sponsors

NSX Sponsor

Simonis Storm Securities Proprietary Limited - Windhoek

OTCQX Sponsor

J.P Galda & Co - New York

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Trustco Group Holdings Limited published this content on 30 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 June 2022 15:42:09 UTC.