Strategic acquisition of Masterfreight Internationale Spedition GMBH, Germany SANTOVA LIMITED (Registration Number: 1998/018118/06) ("Santova") Share Code: SNV ISIN: ZAE000159711 STRATEGIC ACQUISITION OF MASTERFREIGHT INTERNATIONALE SPEDITION GMBH, GERMANY INTRODUCTION The Board of Santova is pleased to announce that Santova has acquired 100% of the share capital in Masterfreight Internationale Spedition GmbH ("Masterfreight"), a company based in Frankfurt Germany, from the founding shareholders of Masterfreight who are independent third parties. RATIONALE Masterfreight is a freight forwarding and clearing agent established in 1989 that specialises in air freight imports and exports. The acquisition of Masterfreight is part of Santova's stated strategy to expand its international footprint to include all major international shipping routes and provides Santova with a solid platform from which to grow and leverage its presence in Germany. CONSIDERATION AND CATEGORISATION The total maximum purchase consideration for Masterfreight may be up to R4.7 million depending on the achievement of future profit warranties, which is less than 5% of the company's market capitalisation and is thus neither a category 1 or 2 transaction in terms of the JSE Listings Requirements. The board, however, considers it prudent to inform shareholders of this strategic acquisition for Santova. The effective date of the acquisition will be 1 December 2014. The acquisition is not subject to any conditions precedent and the purchase price will be settled fully in cash from existing cash resources. The acquisition is expected to have a positive impact on the Group's results, however the full effects of this will only be felt in future financial periods and will not materially affect the Group's results for the 2015 financial year end. 13 November 2014 Durban Sponsor and Corporate Advisor River Group Date: 13/11/2014 07:45:00 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.