Barloworld and Consortium of Investors Enter Implementation Agreement for Proposed Transaction

Barloworld, and a consortium of investors (“Consortium”) comprising Entsha (Pty) Ltd. (“Entsha”) and Gulf Falcon Holding Ltd. (“Falcon Holding”), entered into an implementation agreement (“Implementation Agreement”) in terms of which Newco has agreed to make an offer to Shareholders, other than the Barloworld subsidiaries who hold Shares (including any member of the Barloworld Group holding Shares as “Forfeitable Shares” as escrow agent), the Barloworld Empowerment Foundation Trust (“Barloworld Foundation”), Zahid Tractor & Heavy Machinery Co. Ltd, Dominic Sewela and the Katlego Le Masego Trust (“Excluded Shareholders”) (“Proposed Transaction”).

The Barloworld Foundation will remain a shareholder of Barloworld after the implementation of the Proposed Transaction. Barloworld has made significant strides in Broad Based Black Economic Empowerment (“B-BBEE”), which the Consortium is committed to maintaining under its ownership of Barloworld and ensuring that transformation will continue to be supported through local procurement and supplier development programmes across the value chain, as well as various other social upliftment components. Barloworld will continue to be a South African headquartered business and will maintain its status as a black-owned diversified business.

Pursuant to the release of this announcement, Shareholders were advised that caution is no longer required to be exercised when dealing in their Shares.