Results of the Section 41(3) Shareholder Approval RARE HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration Number: 2002/025247/06 Share Code: RAR ISIN: ZAE000180626 (“the Company” or “RARE”) RESULTS OF THE SECTION 41(3) SHAREHOLDER APPROVAL 1. Shareholders are referred to the announcement released on SENS on 19 March 2014 pertaining to the update on the claw-back offer, the conclusion of an addendum to the underwriting agreement and the posting of a revised circular relating to section 41(3) shareholder approval (“the Update Announcement”). Terms used in this announcement shall bear the same meanings as in the Update Announcement. 2. The Revised Section 41(3) Circular posted to shareholders on 24 March 2014, contained a special resolution in terms of section 41(3) of the Companies Act which the board of directors of the Company proposed to shareholders to vote on in terms of section 60 of the Companies Act in order to obtain their approval to enable the Company to issue the Claw-Back Shares, the voting power of which will exceed 30% of the total voting power of all the shares held by RARE shareholders immediately before the implementation of the Revised Claw-Back Offer. 3. The Revised Section 41(3) Circular provides for a 20 business day period during which RARE shareholders are entitled to vote on the special resolution contained therein and which period expires on Wednesday, 23 April 2014. Shareholders are, however, advised that, as at the date of this announcement, 86.04% of the total votes able to be exercised on the special resolution has been received by the Company’s transfer secretaries and, accordingly, the requisite number of votes necessary to adopt the special resolution has been received. Consequently, the Company will be empowered to issue 25 million shares (equating to more 30% of the total issued share capital of the Company) for purposes of the Revised Claw-Back Offer. 4. A detailed announcement relating to full terms of the Revised Claw-Back Offer will be released in due course. Johannesburg 27 March 2014 Transaction Advisor and Designated Advisor: PSG Capital Proprietary Limited Date: 27/03/2014 03:43:00 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.