30 Jul - 10 min read

Prosus FAQ's regarding the voluntary share exchange offer to the holders of Naspers N ordinary shares

Prosus FAQ's regarding the voluntary share exchange offer to the holders of Naspers N ordinary shares

Naspers Limited
(Incorporated in the Republic of South Africa)
(Registration number 1925/001431/06)
JSE share code: NPN ISIN: ZAE000015889
LSE ADS code: NPSN ISIN: US6315122092
(“Naspers” or “the company”)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN OR INTO ANY JURISDICTION IN WHICH SUCH RELEASE,
PUBLICATION OR DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW.
PLEASE SEE THE IMPORTANT DISCLAIMERS AT THE END OF THIS ANNOUNCEMENT.

PROSUS FAQ'S REGARDING THE VOLUNTARY SHARE EXCHANGE OFFER TO
THE HOLDERS OF NASPERS N ORDINARY SHARES

Shareholders are referred to the prospectus (Prospectus) published by Prosus N.V.
(Prosus) on 12 July 2021 in respect of the voluntary share exchange offer by Prosus to
Naspers N Shareholders (Exchange Offer).

Further to the announcement issued by Prosus today, shareholders are advised that
since the publication of the Prospectus Prosus has received certain frequently asked
questions regarding the Exchange Offer and has therefore made certain materials
available today at www.share-exchange-offer.com, where these frequently asked
questions have been addressed by Prosus.

Cape Town
South Africa

30 July 2021


Enquiries

Investor Enquiries                         +1 347-210-4305
Eoin Ryan, Head of Investor Relations

Media Enquiries                             +27 78 802 6310
Shamiela Letsoalo, Media Relations Director
SA



About Naspers
Established in 1915, Naspers has transformed itself to become a global consumer internet company and one
of the largest technology investors in the world. Through Prosus, the group operates and invests globally in
markets with long-term growth potential, building leading consumer internet companies that empower people
and enrich communities. Prosus has a listing on Euronext Amsterdam and a secondary listing on the
Johannesburg Stock Exchange and Naspers is the majority owner of Prosus.

In South Africa, Naspers is one of the foremost investors in the technology sector and is committed to building
its internet and ecommerce companies in the country. These include Takealot, Mr D Food, Superbalist, OLX,
Autotrader, Property24 and PayU, in addition to Media24, South Africa’s leading print and digital media
business.

Naspers is also focused on stimulating South Africa’s local tech sector through?Naspers Foundry. This is a R1.4
billion investment targeting early stage technology companies in South Africa that seek to address big societal
needs. To help address youth unemployment in impoverished communities, in 2019, Naspers
launched?Naspers Labs, a social impact programme for young, unemployed South Africans aged between 17
and 25. Located in low income, urban settings, Naspers Labs provide a structured development journey
enabling young people to enter the economy.

Naspers has a primary listing on the Johannesburg Stock Exchange (NPN.SJ) and a secondary listing on the
A2X Exchange (NPN.AJ) in South Africa, and has an ADR listing on the London Stock Exchange (LSE: NPSN).

For more information, please visit?www.naspers.com.

Disclaimers

This press release contains information within the meaning of Article 7(1) of the European Market Abuse
Regulation (596/2014).

Shareholders should note that the Prosus Board reserves the right, in its discretion, to decide not to proceed
with the Exchange Offer and, as such, the Exchange Offer may or may not proceed.

This announcement is for information purposes only and is not an offer to sell or the solicitation of an offer to
buy securities and neither this document nor anything herein nor any copy thereof may be taken into or
distributed, directly or indirectly, in or into any jurisdiction in which to do so would be prohibited by applicable
law.

There will be no public offer of any securities in the United States. The securities referred to in this
announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended
(the “Securities Act”), and will not be offered or sold, directly or indirectly, in or into the United States or
to, or for the benefit or account of, any U.S. persons as defined in Regulation S under the Securities Act except
pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the
Securities Act.

Any offer or sale of the new Prosus Ordinary Shares N, directly or indirectly, in or into the United States or
to, or for the account or benefit of, U.S. persons will be made only to, or for the account or benefit of, persons
who are both a "qualified institutional buyer" as defined in Rule 144A under the Securities Act and a "qualified
purchaser" as defined in Section 2(a)(51)(A) of, and Rule 2a51-1(g) under, the U.S. Investment Company
Act of 1940, as amended.

The information contained in this announcement does not constitute or form a part of any offer to the public
for the sale of, or subscription for, or an invitation, advertisement or the solicitation of an offer to purchase
and/or subscribe for, securities as defined in and/or contemplated by the South African Companies Act, No.
71 of 2008 ("South African Companies Act"). Accordingly, this announcement does not, nor does it intend
to, constitute a “registered prospectus” or an advertisement relating to an offer to the public, as contemplated
by the South African Companies Act and no prospectus has been, or will be, filed with the South African
Companies and Intellectual Property Commission in respect of this announcement.

The information contained in this announcement constitutes factual information as contemplated in Section
1(3)(a) of the South African Financial Advisory and Intermediary Services Act, 37 of 2002, as amended ("FAIS
Act") and should not be construed as an express or implied recommendation, guide or proposal that any
particular transaction in respect of the Prosus Ordinary Shares N and/or Naspers N Ordinary Shares or in
relation to the business or future investments of Prosus and/or Naspers, is appropriate to the particular
investment objectives, financial situations or needs of a prospective investor, and nothing contained in this
announcement should be construed as constituting the canvassing for, or marketing or advertising of, financial
services in South Africa. Prosus is not a financial services provider licensed as such under the FAIS Act.

In member states of the European Economic Area (“EEA”) (each, a “Relevant Member State”) no action
has been undertaken or will be undertaken to make an offer to the public of Securities requiring publication
of a prospectus in any Relevant Member State. As a result, this announcement and any offer if made
subsequently is directed exclusively at persons who are “qualified investors” within the meaning of the
Prospectus Regulation (“Qualified Investors”). For these purposes, the expression “Prospectus Regulation”
means Regulation 2017/1129/EU (and amendments thereto) and includes any relevant implementing
measure in the Relevant Member State.

This announcement does not constitute a prospectus within the meaning of the Prospectus Regulation and
has not been approved by the Dutch Authority for the Financial Markets (Stichting Autoriteit Financiële
Markten).

In the United Kingdom this announcement is only being distributed to, and is only directed at, and any
investment or investment activity to which this announcement relates is available only to, and will be engaged
in only with, qualified investors (as defined under Article 2(e) of the Prospectus Regulation as it forms part of
domestic law by virtue of the European Union (Withdrawal) Act 2018) who are (i) investment professionals
falling with Article 19(5) of the UK Financial Services and Markets Act 2000 (Financial Promotion) Order 2005
(the “Order”); (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order, or (iii) other
persons to whom it may otherwise be lawfully communicated (all such persons together being referred to as
“relevant persons”). Persons who are not relevant persons should not take any action on the basis of this
announcement and should not act or rely on it.

The release, publication, or distribution of this announcement in jurisdictions other than South Africa may be
restricted by law and therefore persons into whose possession this announcement comes should inform
themselves about, and observe, any applicable restrictions or requirements. Any failure to comply with such
restrictions may constitute a violation of the securities laws of any such jurisdiction. To the fullest extent
permitted by applicable law, Prosus disclaims any responsibility or liability for the violation of such
requirements by any person.

It is the responsibility of each Naspers N shareholder (including, without limitation, nominees, agents and
trustees for such persons) wishing to receive this announcement and/or participate in the Exchange Offer, or
a component thereof, to satisfy themselves as to the full observance of the applicable laws of any relevant
territory, including obtaining any requisite governmental or other consents, observing any other requirements
or formalities and paying any issue, transfer or other taxes due in such territories.

Investors are advised to read the Prospectus, which contains the terms and conditions of the Exchange Offer,
with care and in full. Any decision to implement the Exchange Offer or analysis of and/or acceptance and/or
election in respect of the Exchange Offer and/or other matters dealt with in the Prospectus should be made
only on the basis of such information.

Application will be made for all of the Prosus Ordinary Shares N proposed to be issued pursuant to the
Exchange Offer to be admitted to listing and trading on the AEX and on the Main Board of the JSE and A2X
Markets. The Prospectus to be issued by Prosus in respect of, among other things, the Exchange Offer will be
made available in due course, subject to applicable securities laws, on www.prosus.com. Investors should
have regard to the Prospectus before deciding to elect to participate in the Exchange Offer.

Any financial adviser of Prosus is acting exclusively for Prosus and no one else in connection with the Exchange
Offer. No financial adviser will regard any other person as its client in relation to the Exchange Offer and will
not be responsible to anyone other than Prosus for providing the protections afforded to its client nor for
giving advice in relation to the Exchange Offer or any other transaction or arrangement referred to in this
announcement.

No representation or warranty, express or implied, is made or given, and no responsibility is accepted, by or
on behalf of any financial adviser or any of its affiliates or any of its respective directors, officers or employees
or any other person, as to the accuracy, completeness, fairness or verification of the information or opinions
contained this announcement and nothing contained in this announcement is, or shall be relied upon as, a
promise or representation by any financial adviser or any of their respective affiliates as to the past or future.
Accordingly, any financial advisers and its affiliates and respective directors, officers and employees disclaim,
to the fullest extent permitted by applicable law, all and any liability, whether arising in tort or contract or
that they might otherwise be found to have in respect of this announcement and/or any such statement.

Nothing contained in this announcement constitutes, or is intended to constitute, investment, tax, legal,
accounting, or other professional advice.

Forward-looking statements

This announcement contains statements about Prosus and/or Naspers that are, or may be, forward-looking
statements. All statements (other than statements of historical fact) are, or may be deemed to be, forward-
looking statements, including, without limitation, those concerning: strategy; the economic outlook for the
industries in which Prosus and/or Naspers operates or invests as well as markets generally; production; cash
costs and other operating results; growth prospects and outlook for operations and/or investments,
individually or in the aggregate; liquidity, capital resources and expenditure, statements in relation to the
approval by shareholders or implementation of the Exchange Offer and/or the benefits of the Exchange Offer.
These forward-looking statements are not based on historical facts, but rather reflect current expectations
concerning future results and events and generally may be identified by the use of forward-looking words or
phrases such as "believe", "aim", "expect", "anticipate", "intend", "foresee", "forecast", "likely", "should",
"planned", "may", "estimated", "potential" or similar words and phrases. Examples of forward-looking
statements include statements regarding a future financial position or future profits, cash flows, corporate
strategy, implementation of the Exchange Offer and/or the benefits of the Exchange Offer, anticipated levels
of growth, estimates of capital expenditures, acquisition and investment strategy, expansion prospects or
future capital expenditure levels and other economic factors, such as, among others, growth and interest
rates.

By their nature, forward-looking statements involve known and unknown risks and uncertainties because they
relate to events and depend on circumstances that may or may not occur in the future. Prosus cautions that
forward-looking statements are not guarantees of future performance. Actual results, financial and operating
conditions, returns and the developments within the industries and markets in which Prosus and/or Naspers
operates and/or invests may differ materially from those made in, or suggested by, the forward-looking
statements contained in this announcement. All these forward-looking statements are based on estimates,
predictions and assumptions, as regards Prosus or Naspers, all of which estimates, predictions and
assumptions, although Prosus believes them to be reasonable, are inherently uncertain and may not eventuate
or eventuate in the manner Prosus expects. Factors which may cause the actual results, performance or
achievements to be materially different from any future results, performance or achievements expressed or
implied in those statements or assumptions include matters not yet known to Prosus or not currently
considered material by Prosus.

Investors should keep in mind that any forward-looking statement made in this announcement or elsewhere
is applicable only at the date on which such forward-looking statement is made. New factors that could cause
the business of Prosus or Naspers not to develop as expected may emerge from time to time and it is not
possible to predict all of them. Further, the extent to which any factor or combination of factors may cause
actual results, performance, or achievement to differ materially from those contained in any forward-looking
statement is not known. Prosus has no duty to, and does not intend to, update, or revise the forward-looking
statements contained in this announcement or any other information herein, except as may be required by
law. Any forward-looking statement has not been reviewed nor reported on by Prosus's external auditor or
any other expert.

Date: 30-07-2021 05:00:00
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.
Information on this Website is provided for general information purposes only and is not a substitute for professional advice. ASX Information (including company announcements and prices) is delayed by at least 20 minutes. JSE Information (including company announcements and prices) is delayed by at least 15 minutes. Reliance on the information you access on or from this Website is solely at your own risk. We make no representation or warranty in relation to the future performance of the companies that appear on this Website. Investment in securities involves risk and you should obtain independent professional legal, financial, investment or company advice before acting on any of the information you access on this Website. Using, browsing or otherwise accessing this Website is subject to our Terms and Conditions and our Privacy Policy.

© 2021 Listcorp. ABN 60 166 140 307

Never miss news from Naspers Limited - N (JSE:NPN) when you join Listcorp.