Capital Group Ltd Notice of Intention to Declare Redundancy

This memo provides an important update following our recent staff engagement sessions.

The media landscape—like many other industries—continues to undergo significant disruption. Shifting consumer trends, evolving government policies, and increased competition have all impacted our operations. Capital Group has not been immune to these changes, and we have experienced notable declines in business volumes.

To adapt and ensure long-term sustainability and competitiveness, we initiated a comprehensive business review. This evaluation has led to a necessary reorganization of our structure and operations, aimed at better aligning with our revised business model and future strategic direction. While this was a difficult decision, it was made purely on operational grounds to safeguard Capital Group's future.

As a result of this restructuring, various positions will regrettably be declared redundant, effective August 25th, 2025. We wish to emphasize that this decision is in no way a reflection of the affected employees' performance or conduct. We recognize the significant impact of this decision and deeply appreciate the dedication and contributions of all team members.

Before arriving at this course of action, we thoroughly explored all possible alternatives, including major reductions in non-staff-related expenses. Unfortunately, these measures alone were not sufficient to address the financial and structural challenges we face.

We are committed to conducting this process with care, fairness, and full compliance with the Employment Act, 2007. All affected employees will be engaged to ensure transparency, offer support, and explore possible redeployment opportunities. Employees whose roles are declared redundant will receive terminal dues per their contracts and the law, including:

• Salary up to the final working day
• One (1) month's pay in lieu of notice
• Severance pay: 15 days' salary for each completed year of service, less any amounts owed to the company
• Payment for accrued but unused leave days

We understand this news may raise questions. Our management and HR team will remain available to provide clarity and support throughout the transition period. We will also engage directly with each affected individual to discuss next steps.

We sincerely thank you for your understanding, professionalism, and continued commitment during this time. We are confident that these strategic adjustments will position Capital Group Limited for renewed growth, resilience, and long-term success.

Sincerely,

Symon Bargurei
Managing Director