Results announcement

Ebene, Mauritius (with simultaneous circulation in Johannesburg)

DATE:

01-08-2016

Financial adviser, sole global coordinator, bookrunner and sponsor Rand Merchant Bank, a division of FirstRand Bank Limited

Legal advisers Webber Wentzel, South African legal adviser to Ethos Capital
Bedell Cristin (Mauritius) Partnership, Mauritian legal adviser to Ethos Capital
Cliffe Dekker Hofmeyr Inc., South African tax adviser to Ethos Capital
Bowman Gilfillan Inc., South African legal adviser to the Global Coordinator

Independent reporting accountants and auditors
Deloitte

DISCLAIMER

This announcement is not and shall not constitute an offer, or an invitation or solicitation to the public to
acquire the Offer Shares in any jurisdiction.

No action has been or will be taken by Ethos Capital or Rand Merchant Bank, a division of FirstRand Bank
Limited (‘RMB’) to permit a public offering of the Offer Shares in any jurisdiction. No action has been, or will
be, taken to permit the possession or distribution of this announcement or the Pre-listing Statement (or any
other offering or publicity materials or application form(s) relating to the Offer Shares) in any jurisdiction
where action for that purpose may be required or doing so is restricted by law. Accordingly, neither this
announcement, the Pre-listing Statement, nor any advertisement, nor any other offering material may be
distributed or published in any jurisdiction except under circumstances that will result in compliance with any
applicable laws and regulations.

This announcement is not for distribution, directly or indirectly, in or into the United States (including its
territories and possessions, any State of the United States and the District of Columbia), Australia, Canada
or Japan. This announcement does not constitute or form a part of any offer or solicitation to purchase or
subscribe for securities in the United States, Australia, Canada or Japan. The Offer Shares have not been,
and will not be, registered under the Securities Act. The Offer Shares may not be offered or sold in the
United States except pursuant to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act.

RMB and its directors, officers, employees, advisers or agent do not accepts any responsibility or liability
whatsoever for/or makes any representation or warranty, express or implied, as to the truth, accuracy or
completeness of the information in this announcement (or whether any information has been omitted from
the announcement) or any other information relating to Ethos Capital, its subsidiaries or associated
companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made
available or for any loss howsoever arising from any use of the announcement or its contents or otherwise
arising in connection therewith.

RMB is acting exclusively for Ethos Capital and no-one else in connection with the Offer. RMB will not
regard any other person as it client in relation to the Offer and will not be responsible to anyone other than
Ethos Capital for providing the protections afforded to its clients, nor for providing advice in relation to the
Offer, the contents of this announcement or any transaction, arrangement or other matter referred to herein.

In connection with the Offer, RMB and any of its affiliates, acting as an investor for its own account, may
take up A Ordinary Shares in the Offer and in that capacity may retain, purchase or sell for its own account
such securities and any A Ordinary Shares or related investments and may offer or sell such A Ordinary
Shares or other investments otherwise than in connection with the Offer. Accordingly, references in the
announcement to A Ordinary Shares being offered or placed should be read as including any offering or
placement of A Ordinary Shares to RMB or any of its affiliates acting in such capacity. In addition, RMB or its
affiliates may enter into financing arrangements (including swaps) with investors in connection with which
RMB (or its affiliates) may from time to time acquire, hold or dispose of A Ordinary Shares. RMB does not
intend to disclose the extent of any such investment or transactions otherwise than in accordance with any
legal or regulatory obligation to do so.

Date: 01/08/2016 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE’).
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.