Annexure A: Shareholder analysis | Blu Label Unlimited

2025 INTEGRATED ANNUAL REPORT

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About Us

LEVEL UP: EXPANDING THE MAP

About this report Highlights What we do and why we do it Our purpose, vision and mission Our values system Our business model Board of Directors Operating structure Executive Committee Chairman's report Material risks and opportunities Stakeholder relations The RITE strategy

LEVEL UP: EXPANDING THE MAP

Unlocking new opportunities, expanding digital footprints

Expand our distribution channels in banking, retail and independent markets, while investigating new, primarily digital channels.

Add innovative products and services to our portfolio to increase volumes and margins in existing embedded channels.
Strategy and performance

NEW TACTICS, NEW TECH

Joint Chief Executive Officers' report Financial Director's report Ten-year review Value-added statement Operational reviews Leveraging technology Social impact: Human capital Social impact: Customer and supply chain responsibility

NEW TACTICS, NEW TECH

We’ve changed the controller. But we’re still in control.

Deliver world-class customer-centric solutions across our businesses through platform renewal, improvement, innovation and transformation.

Build and improve the competence of our offerings through digitisation and technological innovation.

Maintain agile systems to support our entrepreneurial culture and flexibility that increases our speed to market.
Corporate governance

SECURE SAFE.

Governance philosophy and approach Effective and ethical leadership Board composition, structure and report back King IV functional areas Combined assurance Governance of risk Governance of sustainability Our environmental impact Information and technology governance Compliance report Audit, Risk and Compliance Committee's report Social, Ethics and Transformation Committee's report Remuneration report

SECURE SAFE.

Capitalise on economies of scale with proven technology for accessible, always-on and trusted platforms.

Maintain a customer-centric approach.

Provide exceptional service that is intelligently tailored to the needs of and builds trust with merchants, customers and consumers.
Financial performance

GROUP ANNUAL FINANCIAL STATEMENTS
Non-IFRS information Reasonable assurance report Financial highlights Commentary Prominent notice Statement of Directors’ responsibility Approval of the financial statements Joint Chief Executive Officers and Financial Director responsibility statement on internal financial controls Declaration by the Company Secretary Directors' report Audit, Risk and Compliance Committee's report group Independent auditor's report Group income statement

Group statement of comprehensive income Group statement of financial position Group statement of changes in equity Group statement of cash flows Notes to the Group annual financial statements Annexure A: Shareholder analysis Glossary
COMPANY ANNUAL FINANCIAL STATEMENTS
Directors’ responsibilities and approval Joint Chief Executive Officers and Financial Director responsibility statement on internal financial controls Declaration by the Company Secretary Directors' report

Audit, Risk and Compliance Committee's report company Independent auditor’s report Company statement of financial position Company statement of comprehensive income Company statement of changes in equity Company statement of cash flows Notes to the Company annual financial statements Annexure to the annual financial statements General information
Shareholder info

SPEED BOOST ACTIVATED:

ESG Reporting Index Notice of virtual Annual General Meeting Form of proxy Notes to the form of proxy Glossary Administration

SPEED BOOST ACTIVATED:

Unlocking new territories, expanding digital footprints.

Expand our distribution channels in banking, retail, independent and informal markets, while investigating new, primarily digital channels.

Add innovative products and services to our portfolio to increase volumes and margins in existing embedded channels.

Shareholder spread	Number	%	Shares	%
1 – 1 000 shares	9 246	79.08	910 361	0.10
1 001 – 10 000 shares	1 541	13.18	6 058 880	0.66
10 001 – 100 000 shares	638	5.46	20 938 290	2.29
100 001 – 1 000 000 shares	187	1.60	62 602 565	6.86
1 000 001 shares and over	80	0.68	823 145 778	90.09
Total	11 692	100.00	913 655 874	100.00

Distribution of shareholders	Number	%	Shares	%
Private Investor	208	1.78	266 952 989	29.22
Mutual Fund	57	0.49	169 278 982	18.53
Corporate Holding	8	0.07	143 720 003	15.73
Trading Position	15	0.13	123 725 536	13.54
Pension Funds	47	0.40	67 998 113	7.44
Stock Brokers	1	0.01	13 204 033	1.45
Hedge Fund	2	0.02	11 918 547	1.30
Insurance Companies	8	0.07	11 338 611	1.24
University	6	0.05	2 430 154	0.27
Medical Aid Scheme	3	0.03	1 533 019	0.17
Custodians	3	0.03	1 158 000	0.13
Exchange-Traded Fund	4	0.03	650 002	0.07
Charity	1	0.01	334 154	0.04
American Depository Receipts	1	0.01	142 500	0.02
Sovereign Wealth	1	0.01	121 167	0.01
Unclassified	11 327	96.86	99 150 064	10.84
Total	11 692	100.00	913 655 874	100.00

Public/non-public shareholders	Number	%	Shares	%
Non-public shareholders	8	0.07	303 215 454	33.19
Strategic Holdings (more than 10%)	1	0.01	100 000 000	10.95
Treasury stock	1	0.01	14 682 814	1.61
Directors and associates	6	0.05	188 532 640	20.63
Public shareholders	11 684	99.93	610 440 420	66.81
Total	11 692	100.00	913 655 874	100.00

Beneficial shareholders holding 2% or more	Shares	%
Shotput Investments (Pty) Ltd	100 000 000	10.95
Levy B M	89 024 101	9.74
Levy M S	82 964 896	9.08
Peresec South Africa (Pty) Ltd	69 843 632	7.64
Allan Gray Balanced Fund	47 885 025	5.24
Zarclear Securities Lending (Pty) Ltd	34 648 095	3.79
ERZ Telecoms CC	26 943 510	2.95
Centriq Sasol Equity Portfolio	25 000 000	2.74
Basa Ventures (Pty) Ltd	24 636 817	2.70
Government Employees Pension Fund (PIC)	19 853 077	2.30
Allan Gray Equity Fund	18 588 349	2.17
Total	539 387 502	59.30

Shareholders holding 2% or more	Shares	%
Allan Gray (Pty) Ltd	122 445 116	13.40
Shotput Investments (Pty) Ltd	100 000 000	10.95
Levy B M	89 024 101	9.74
Levy M S	82 964 896	9.08
Peresec South Africa (Pty) Ltd	69 843 632	7.64
Sanlam Investment Management (Pty) Ltd	57 793 035	6.33
Zarclear Securities Lending (Pty) Ltd	34 648 095	3.79
Metal Industries Benefit Fund Administrators (Pty) Ltd	27 982 823	3.06
ERZ Telecoms CC	26 943 510	2.95
Basa Ventures (Pty) Ltd	24 636 817	2.70
Total	636 282 025	69.64