Allocation and acceptance of performance shares by executive directors and directors of major subsidiaries Adcorp Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 1974/001804/06) (“Adcorp” or “Group”) Share code: ADR ISIN: ZAE000000139 ALLOCATION AND ACCEPTANCE OF PERFORMANCE SHARES BY EXECUTIVE DIRECTORS AND DIRECTORS OF MAJOR SUBSIDIARIES In compliance with paragraphs 3.63 to 3.74 of the Listings Requirements of the JSE Limited, shareholders are advised that performance shares in Adcorp have been offered to eligible Group employees. These Performance Shares were offered on 28 February 2013 at a strike price of 3118 cents per share. This allocation was approved by the Nominations and Remunerations Committee. The acceptance date in respect of the off-market awards of Performance Shares by the beneficiaries listed below is 28 February 2013. Approval to grant and accept these performance shares was obtained from the Chairman of the Nominations and Remunerations Committee. Name of director: R L Pike Name of company: Adcorp Holdings Limited Date of transaction: 28 February 2013 Nature of transaction: Acceptance of Performance Shares Number of shares: 450 000 Allocated Price: 3118 cents per share Total value: R14 031 000 Vesting date: 28 February 2015 Nature of interest: Direct Beneficial Name of director: P C Swart Name of company: Adcorp Holdings Limited Date of transaction: 28 February 2013 Nature of transaction: Acceptance of Performance Shares Number of shares: 412 500 Allocated Price: 3118 cents per share Total value: R12 861 750 Vesting date: 28 February 2015 Nature of interest: Direct Beneficial Name of director: C Bomela Name of company: Adcorp Holdings Limited Date of transaction: 28 February 2013 Nature of transaction: Acceptance of Performance Shares Number of shares: 115 000 Allocated Price: 3118 cents per share Total value: R3 585 700 Vesting date: 28 February 2015 Nature of interest: Direct Beneficial Name of director: A M Sher Name of company: Adcorp Holdings Limited Date of transaction: 28 February 2013 Nature of transaction: Acceptance of Performance Shares Number of shares: 145 000 Allocated Price: 3118 cents per share Total value: R4 521 100 Vesting date: 28 February 2015 Nature of interest: Direct Beneficial Name of director: M A Jurgens Name of company: Paracon Holdings Limited Date of transaction: 28 February 2013 Nature of transaction: Acceptance of Performance Shares Number of shares: 105 000 Allocated Price: 3118 cents per share Total value: R3 273 900 Vesting date: 28 February 2015 Nature of interest: Direct Beneficial Name of director: M J Levenstein Name of company: Paxus Australia (Pty) Limited Date of transaction: 28 February 2013 Nature of transaction: Acceptance of Performance Shares Number of shares: 70 000 Allocated Price: 3118 cents per share Total value: R2 182 600 Vesting date: 28 February 2015 Nature of interest: Direct Beneficial 28 February 2013 Bryanston Sponsor Deloitte & Touche Sponsor Services (Pty) Ltd Date: 28/02/2013 03:47:00 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.