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Transaction Capital Motor Holdco Proprietary Limited (“TCMH”), a wholly-owned subsidiary of Transaction Capital, has concluded a subscription agreement, a sale agreement and a warranty agreement (collectively “transaction agreements”) to (i) subscribe for shares in WBC Holdings Proprietary Limited (“WBC Holdco”) and acquire shares from certain of the existing shareholders in WBC Holdco (“subscription and sale transaction”); and (ii) exchange the existing shares held by TCMH in We Buy Cars Proprietary Limited (“WeBuyCars”) for newly issued shares in WBC Holdco (“exchange transaction”), such that following the implementation of the transaction agreements, TCMH will hold 74.9% of the issued shares in WBC Holdco on a fully diluted basis (the

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