2025/11/06 – 16:10:00 – 1086527887953101584

Cautionary Announcement

STIMULUS INVESTMENTS LIMITED
(Incorporated in the Republic of Namibia)
Registration Number: 2004/482
NSX Share code: SILP
ISIN: NA00A1JN0Z7
(“Stimulus” or “the Company”)

Further Cautionary Announcement

Further to the cautionary announcements dated 14 August 2025 and 25 September
2025, shareholders are advised that negotiations are still in progress, which if
successfully concluded, may have a material effect on the price of the company’s
shares.

Accordingly, shareholders are advised to exercise caution when dealing in the
Stimulus’ preference shares until a further announcement is made.

By order of the Board
Windhoek
6 November 2025

SPONSOR
Cirrus Securities (Pty) Ltd
Member of the Namibia Securities Exchange

Date: 06-11-2025 04:10:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE’).
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.

Namibia Securities Exchange – NAM News