AFRICAN RAINBOW CAPITAL INVESTMENTS LIMITED - Dealings in securities by a director of the company and a director of a related company

Dealings in securities by a director of the company and a director of a related company

African Rainbow Capital Investments Limited
(Incorporated in the Republic of Mauritius)
(Registration number C148430)
Share code: AIL
ISIN: MU0553S00000
("ARC Investments" or "the company")

DEALINGS IN SECURITIES BY A DIRECTOR OF THE COMPANY AND A DIRECTOR OF A RELATED COMPANY

In compliance with the JSE Limited Listings Requirements, shareholders are advised of the following
dealings in ARC Investments securities by a director of a company and a director of a related company:

      Name of director:                                   Mmamodiane Refiloe Nkadimeng
      Company:                                            ARC Investments
      Date of transaction:                                19 March 2021
      Nature of transaction:                              On-market purchase of securities
      Number of securities:                               51 106
      Class of securities:                                ARC Investments ordinary shares
      Purchase price:                                     400c per share
      Total value of the transaction:                     R204 424.00
      Clearance obtained:                                 Yes
      Nature of interest:                                 Direct beneficial


      Name of director:                                   Thomas Andrew Boardman
      Office held:                                        Chairman of UBI General Partner
                                                          Proprietary Limited Investment
                                                          Committee
      Name of related company:                            UBI General Partner Proprietary
                                                          Limited, the general partner of the
                                                          ARC Fund*
      Name of associate:                                  Navigumus Investments (Pty) Ltd
      Relationship to associate:                          Director of associate
      Date of transaction:                                18 March 2021
      Nature of transaction:                              On-market purchase of securities
      Number of securities:                               1 700 000
      Class of securities:                                ARC Investments ordinary shares
      Purchase price:                                     383.47c per share
      Total value of the transaction:                     R6 518 990.00
      Clearance obtained:                                 Yes
      Nature of interest:                                 Indirect beneficial

*ARC Investments is a Limited Partner in the ARC Fund, an en-commandite partnership. Full details of
the structure were disclosed in the Pre-Listing Statement published on 28 August 2017.

Ebene, Mauritius (with simultaneous circulation in Johannesburg)
23 March 2021

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 23-03-2021 02:28:00
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