WITHDRAWAL OF

CAUTIONARY STATEMENT

The Board of Directors of starafricacorporation Limited ("the Company") is pleased to inform its stakeholders that the refinery at Goldstar Sugars (GSS) resumed operations on Sunday, 19 February 2023. This followed the successful resolution of the pricing of raw sugar and the trading terms thereon, between the Company and the raw sugar supplier.

GSS has resumed the supply of granulated white sugar to the market and will continue to do so for the foreseeable future. Customers have been advised of this development and the resultant refined sugar prices. Consequently thereof, the Cautionary Statement published in the Herald, NewsDay and the Company's website on 15 February 2023 is, hereby, withdrawn.

The Company is grateful for the support received from its stakeholders, including the regulatory authorities, during this challenging period and regrets any inconvenience caused by the temporary closure of the refinery.

By Order of the Board

A.J. Musemburi Company Secretary

5

starafricacorporation Limited

CANE

1

CANE

22 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 22 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 February 2023 10:36:10 UTC.