Acceptance of Share Appreciation Rights in terms of the Transaction Capital Limited Share Appreciation Rights Plan Transaction Capital Limited (Incorporated in the Republic of South Africa) Registration number: 2002/031730/06 JSE share code: TCP ISIN: ZAE000167391 (“the company”) ACCEPTANCE OF SHARE APPRECIATION RIGHTS IN TERMS OF THE TRANSACTION CAPITAL LIMITED SHARE APPRECIATION RIGHTS PLAN In compliance with paragraphs 3.63 to 3.65 of the JSE Limited Listings Requirements, notification is hereby given that the following directors of the company and directors of major subsidiaries of the company have accepted share appreciation rights (“SARs”) in terms of the Transaction Capital Share Appreciation Rights Plan. Subject to performance criteria, SARs vest 3 years from the date of issue, and are exercisable for a period of 1 year after vesting. The SARs were granted at R7.67 per share, being the 10 day volume weighted average price per share at the date of issue. Clearances in terms of the JSE Listing Requirements were obtained. Name of director David Hurwitz Name of company Transaction Capital Limited Date transaction was effected 6 December 2013 Class of security SARs in respect of ordinary shares Total value of securities R7 509 306 Number of SARs 979 049 Nature of transaction Off market acceptance of allocation of SARs Nature of interest Direct beneficial Name of director David Spangenberg Name of company SA Taxi Finance Holdings Proprietary Limited Date transaction was effected 6 December 2013 Class of security SARs in respect of ordinary shares Total value of securities R3 588 555 Number of SARs 467 869 Nature of transaction Off market acceptance of allocation of SARs Nature of interest Direct beneficial Name of director Bradley Shirras Name of company SA Taxi Finance Holdings Proprietary Limited Date transaction was effected 6 December 2013 Class of security SARs in respect of ordinary shares Total value of securities R717 705 Number of SARs 93 573 Nature of transaction Off market acceptance of allocation of SARs Nature of interest Direct beneficial Name of director Bonisile Makubalo Name of company SA Taxi Finance Holdings Proprietary Limited Date transaction was effected 6 December 2013 Class of security SARs in respect of ordinary shares Total value of securities R358 849 Number of SARs 46 786 Nature of transaction Off market acceptance of allocation of SARs Nature of interest Direct beneficial Name of director Lorenzo Cardoso Name of company SA Taxi Finance Holdings Proprietary Limited Date transaction was effected 6 December 2013 Class of security SARs in respect of ordinary shares Total value of securities R2 153 130 Number of SARs 280 721 Nature of transaction Off market acceptance of allocation of SARs Nature of interest Direct beneficial Name of director Terry Kier Name of company SA Taxi Finance Holdings Proprietary Limited Date transaction was effected 6 December 2013 Class of security SARs in respect of ordinary shares Total value of securities R7 509 306 Number of SARs 979 049 Nature of transaction Off market acceptance of allocation of SARs Nature of interest Direct beneficial Sandton 10 December 2013 Enquiries: Phillipe Welthagen - Investor Relations Telephone: +27 (0) 11 555 5004 Sponsor: Deutsche Securities (SA) Proprietary Limited Date: 10/12/2013 11:30:00 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.