Cautionary Statement

The Board of Directors of starafricacorporation Limited wishes to advise the company's shareholders that it is engaged in discussions with its sole supplier of raw sugar, following a significant raw sugar price increase and untenable trading conditions. While the negotiations are in progress, the company has had to shut down its sugar refining plant at Goldstar Sugars. The outcome of the deliberations and impact of the action taken by the company may have a material impact on the value of the company's shares.

The Board, therefore, advises the company's shareholders to exercise caution and to consult their professional advisers when dealing in the shares of starafricacorporation Limited until finalisation of the aforementioned matter. The company's shareholders and members of the public will be updated on the matter in accordance with the Zimbabwe Stock Exchange Listing Rules.

By Order Of The Board

A.J. Musemburi Company Secretary starafricacorporation Limited

14 February 2023

Directors: Dr R. J. Mbire (Chairman), *R. Nyabadza (Chief Executive), M. E. Chiremba, R. Magundani, C. Matorera,

*A. J. Musemburi, G. T . Nyamayi, Dr. M. Sibanda, *F. Myambuki - (*Executive)

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starafricacorporation Ltd. published this content on 14 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2023 11:09:25 UTC.