ENFORCEABLE UNDERTAKING IN TERMS OF SECTION 151(1) OF THE FINANCIAL SECTOR REGULATION ACT, 2017 (MUNICIPAL EMPLOYEES’ PENSION FUND 12/8/5625

4.1 The MEPF undertakes to, by 26 September 2025, being more than 75 days before 11 December 2025, provide the municipal managers or chief executive officers, as the case may be, of all participating employers/municipalities with written notice of the general meeting to be held on 11 December 2025 (“the first notice”) which notice must stipulate that they are required to send their completed returns and nominations of employee representatives to the MEPF by 28 October 2025, being at least 45 days before 11 December 2025. All the participating employers/municipalities will be required to conduct fresh elections for employee representatives, notwithstanding any previous elections for employee representatives conducted prior to the date of the first notice.

4.2. On 10 October 2025, the MEPF will send a notice to the municipalities/participating employers, serving as a reminder of the 28 October 2025 deadline for the submission of completed returns and nomination documents.

4.3. On 17 October 2025, the MEPF will send a further notice to the municipalities/participating employers, serving as a final reminder of the 28 October 2025 deadline for the submission of completed returns and nomination documents.

4.4. In the event that returns and/or nomination documents remain outstanding from any municipality between 28 October 2025 and 19 November 2025, the MEPF will continue to engage with such municipalities on a weekly basis (via notices, correspondence or other means) to procure all necessary returns and/or nomination documents;

4.5. By 19 November 2025, being at least 21 days before 11 December 2025, the MEPF will provide all employee representatives, as well as municipal managers or chief executive officers of all participating employers, with written notice of the 2025 General Meeting, stipulating details including specific date, time and venue of the Meeting; and

4.6. Between 19 November 2025 and the date of the 2025 General Meeting, the MEPF will provide any and all nominated/elected employee representatives whose particulars were only provided to the MEPF after 19 November 2025 (as well as the municipal managers or chief executive officers of the relevant participating employers) with copies of the written notice of the 2025 General Meeting, stipulating details including the specific date, time and venue of the Meeting.

The aforesaid Enforceable Undertaking is accepted by the Financial Sector Conduct Authority in terms of section 151(1) of the Financial Sector Regulation Act, 2017.