Repurchase of Treasury Shares Indequity Group Limited Incorporated in the Republic of South Africa Registration number 1998/015883/06 Share code: IDQ ISIN Code ZAE000016606 (“Indequity” or “the Company” or “the Indequity Group”) REPURCHASE OF TREASURY SHARES Indequity shareholders (“Shareholders”) are referred to the circular distributed to Shareholders on Friday, 19 December 2014 (“Circular”) relating to the proposed repurchase of 1 099 368 Indequity ordinary Shares (“Repurchase Shares”), held as treasury shares, from Indequity Specialised Insurance Limited (“Indequity Insurance”), a wholly owned subsidiary of Indequity (“Repurchase”) and the announcement published on the Stock Exchange News Services of the JSE Limited (“JSE”) on Wednesday, 21 January 2015, relating to the results of the special general meeting that was held on the same day (“General Meeting”). Shareholders are hereby advised that on Monday, 26 January 2015, Indequity repurchased the Repurchase Shares at a price of R5.50 per share, which Repurchase constitutes a repurchase of 8.78% of the issued ordinary share capital of Indequity at that date. The Repurchase constitutes a specific repurchase in terms of section 48(8)(b) and section 114, read with sections 115 and 164 of the Companies Act (71 of 2008), as amended (“the Act”). The Repurchase was authorised by the board of directors of Indequity on Friday, 5 December 2014 and subsequently approved by Shareholders at the General Meeting. The required compliance certificate has been received from the Takeover Regulation Panel in accordance with section 119(4)(b) of the Act. Indequity applied for, and was granted, a delisting of the Repurchased Shares from the JSE with effect from Monday, 26 January 2015. Immediately subsequent to the delisting from the JSE, the relevant Repurchase Shares will be cancelled. Immediately following the Repurchase, Indequity will have no ordinary shares in issue which would be classified as treasury shares. Johannesburg 26 January 2015 Sponsor: KPMG Services (Pty) Ltd Date: 26/01/2015 04:00:00 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.