ENGAGEMENT LETTER AND MANDATE AGREEMENT

Date: 20 February 2026    Ref: DQ-EL-2026-0042

This Engagement Letter ("Letter") is issued by DebtQuity (Pty) Ltd, a company registered under the laws of the Republic of South Africa (Registration No. 20XX/XXXXXX/07), Registered Credit Provider NCR Reg. No. NCRCP XXXX ("DebtQuity"), to Nkosi Holdings (Pty) Ltd ("the Client").

1. Mandate. DebtQuity agrees to originate and facilitate a secured credit facility of up to N$15,000,000 (Fifteen Million Namibia Dollars) under the Institutional Mandate, subject to credit committee approval and satisfactory completion of due diligence.

2. Term. The facility term shall be 36 months from the date of first drawdown, with interest accruing at the prevailing prime lending rate plus 3.5% per annum.

3. Breakage Fee. Should the Client fail to exercise the approved term sheet within 60 calendar days of issuance, DebtQuity reserves the right to charge a breakage fee of 1% of the approved facility amount, calculated as compensation for origination and due diligence costs incurred.

4. Compliance. This agreement is subject to the National Credit Act 34 of 2005, the Financial Advisory and Intermediary Services Act 37 of 2002, and the Protection of Personal Information Act 4 of 2013.

5. Acceptance. By signing below, the Client confirms acceptance of the terms and conditions set forth herein and authorises DebtQuity to proceed with the origination process.