Disclosure of significant holding of Alexander Forbes shares ALEXANDER FORBES GROUP HOLDINGS LIMITED Incorporated in the Republic of South Africa (Registration number: 2006/025226/06) JSE Share Code: AFH ISIN: ZAE000191516 (“Alexander Forbes” or “the Company”) DISCLOSURE OF SIGNIFICANT HOLDING OF ALEXANDER FORBES SHARES In accordance with paragraph 3.83 of the JSE Limited Listings Requirements and section 122 of the Companies Act 71 of 2008 (“the Act”), shareholders are advised as follows: Alexander Forbes has received formal notification that Mercer Africa Limited (“Mercer”) has acquired an interest in the ordinary shares of the Company, such that its total interest in Alexander Forbes has increased by 248 750 046 ordinary shares (“second tranche”). In this regard, shareholders are referred to the Company’s Abridged Pre-Listing Statement released on the Stock Exchange News Service on 7 July 2014, wherein Mercer’s obligation to acquire the second tranche from Selling Shareholders pursuant to a Sale of Shares Agreement was disclosed. In accordance with the terms of the Sale of Shares Agreement, and following the approval of the Financial Services Board on 30 September 2014, the acquisition by Mercer of the second tranche became unconditional and effective on 8 October 2014. Consequently, Mercer’s ordinary shareholding in Alexander Forbes increases from 14.9% (194 051 083 ordinary shares) to 34% (442 801 129 ordinary shares). As required in terms of section 122(3)(a) of the Act, the Company has filed the required notice with the Takeover Regulation Panel. 9 October 2014 Sandton Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 09/10/2014 04:32:00 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.