Acceptance Of Options Granted In Terms Of The Deneb Investments Long Term Incentive Scheme DENEB INVESTMENTS LIMITED (previously K2013091290 (Proprietary) Limited) Registration number: 2013/091290/06 (Incorporated in the Republic of South Africa) JSE share code: DNB ISIN: ZAE000197398 (“Deneb” or the “Company”) ACCEPTANCE OF OPTIONS GRANTED IN TERMS OF THE DENEB INVESTMENTS LONG TERM INCENTIVE SCHEME Shareholders are referred to the SENS announcement dated 4 February 2014 relating to the acceptance of options granted in terms of the Deneb Investments Long Term Incentive Scheme (“the Scheme”) (“Announcement”). Shareholders are advised that the final number of options granted to participants in terms of the Scheme differs from the information previously set out in the Announcement. Accordingly, the information set out in this announcement replaces the information set out in the Announcement. In compliance with rules 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information is disclosed: NAME OF DIRECTOR S A Queen COMPANY OF WHICH I AM A DIRECTOR Deneb STATUS: EXECUTIVE/NON-EXECUTIVE Executive TYPE OF SECURITIES Options to subscribe for ordinary shares CLASS OF SECURITIES Ordinary DATE OF SHARE OPTION ACCEPTANCE 4 February 2015 OPTION STRIKE PRICE (CENTS) 184 NUMBER OF OPTIONS ALLOCATED 1,091,401 TOTAL RAND VALUE OF OPTIONS R2 008 177.84 STRIKE DATES OF OPTIONS 10% from 27 January 2016 20% from 27 January 2017 30% from 27 January 2018 40% from 27 January 2019 PERIOD OF EXERCISE 8 years from grant of options NATURE AND EXTENT OF INTEREST IN Direct Beneficial TRANSACTION NATURE OF TRANSACTION Acceptance of options to subscribe for ordinary shares in terms of a share incentive scheme (off-market transaction) CLEARANCE OBTAINED Yes NAME OF DIRECTOR D Duncan COMPANY OF WHICH I AM A DIRECTOR Deneb STATUS: EXECUTIVE/NON-EXECUTIVE Executive TYPE OF SECURITIES Options to subscribe for ordinary shares in the share capital of Deneb CLASS OF SECURITIES Ordinary DATE OF SHARE OPTION ACCEPTANCE 4 February 2015 OPTION STRIKE PRICE (CENTS) 184 NUMBER OF OPTIONS ALLOCATED 1,564,245 TOTAL RAND VALUE OF OPTIONS R2 878 210.80 STRIKE DATES OF OPTIONS 10% from 27 January 2016 20% from 27 January 2017 30% from 27 January 2018 40% from 27 January 2019 PERIOD OF EXERCISE 8 years from grant of options NATURE AND EXTENT OF INTEREST IN Direct Beneficial TRANSACTION NATURE OF TRANSACTION Acceptance of options to subscribe for ordinary shares in terms of a share incentive scheme (off-market transaction) CLEARANCE OBTAINED Yes NAME OF DIRECTOR G D T Wege COMPANY OF WHICH I AM A DIRECTOR Deneb STATUS: EXECUTIVE/NON-EXECUTIVE Executive TYPE OF SECURITIES Options to subscribe for ordinary shares in the share capital of Deneb CLASS OF SECURITIES Ordinary DATE OF SHARE OPTION ACCEPTANCE 4 February 2015 OPTION STRIKE PRICE (CENTS) 184 NUMBER OF OPTIONS ALLOCATED 865,413 TOTAL RAND VALUE OF OPTIONS R1 592 359.92 STRIKE DATES OF OPTIONS 10% from 27 January 2016 20% from 27 January 2017 30% from 27 January 2018 40% from 27 January 2019 PERIOD OF EXERCISE 8 years from grant of options NATURE AND EXTENT OF INTEREST IN Direct Beneficial TRANSACTION NATURE OF TRANSACTION Acceptance of options to subscribe for ordinary shares in terms of a share incentive scheme (off-market transaction) CLEARANCE OBTAINED Yes NAME OF DIRECTOR I N Morris COMPANY OF WHICH I AM A DIRECTOR Prima Toy and Leisure Trading (Pty) Ltd STATUS: EXECUTIVE/NON-EXECUTIVE Executive TYPE OF SECURITIES Options to subscribe for ordinary shares in the share capital of Deneb CLASS OF SECURITIES Ordinary DATE OF SHARE OPTION ACCEPTANCE 4 February 2015 OPTION STRIKE PRICE (CENTS) 184 NUMBER OF OPTIONS ALLOCATED 644,581 TOTAL RAND VALUE OF OPTIONS R1 186 029.04 STRIKE DATES OF OPTIONS 10% from 27 January 2016 20% from 27 January 2017 30% from 27 January 2018 40% from 27 January 2019 PERIOD OF EXERCISE 8 years from grant of options NATURE AND EXTENT OF INTEREST IN Direct Beneficial TRANSACTION NATURE OF TRANSACTION Acceptance of options to subscribe for ordinary shares in terms of a share incentive scheme (off-market transaction) CLEARANCE OBTAINED Yes NAME OF DIRECTOR F Nussbaum COMPANY OF WHICH I AM A DIRECTOR Prima Toy and Leisure Trading (Pty) Ltd STATUS: EXECUTIVE/NON-EXECUTIVE Executive TYPE OF SECURITIES Options to subscribe for ordinary shares in the share capital of Deneb CLASS OF SECURITIES Ordinary DATE OF SHARE OPTION ACCEPTANCE 4 February 2015 OPTION STRIKE PRICE (CENTS) 184 NUMBER OF OPTIONS ALLOCATED 300,032 TOTAL RAND VALUE OF OPTIONS R552 058.88 STRIKE DATES OF OPTIONS 10% from 27 January 2016 20% from 27 January 2017 30% from 27 January 2018 40% from 27 January 2019 PERIOD OF EXERCISE 8 years from grant of options NATURE AND EXTENT OF INTEREST IN Direct Beneficial TRANSACTION NATURE OF TRANSACTION Acceptance of options to subscribe for ordinary shares in terms of a share incentive scheme (off-market transaction) CLEARANCE OBTAINED Yes Cape Town 5 February 2015 Sponsor PSG Capital Date: 05/02/2015 05:00:00 Produced by the JSE SENS Department. 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