Results of the Claw-back Offer BEIGE HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1997/006871/06) (“Beige” or “the company”) ISIN Code: ZAE000034161 Share code: BEG RESULTS OF THE CLAW-BACK OFFER 1. Introduction Shareholders are referred to the claw-back offer circular dated 14 April 2015 setting out the details of the claw-back offer in terms of which the company issued 3 000 000 000 ordinary shares of no par value in its authorised ordinary share capital (“claw-back shares”) for subscription by The Lion Match Company (Pty) Ltd (“the subscriber”) for a subscription price of R0.02 per claw-back share (“subscription”), which claw-back shares could be clawed back by Beige shareholders (recorded in the share register on the record date, being 17 April 2015) from the subscriber in the ratio of 183.84365 claw-back shares for every 1 Beige share held. 2. Results of claw-back offer 2.1 Applications for 163 882 772 claw-back shares constituting 5.46% (excluding the allocation to which the subscriber is entitled) of the subscription (“applications”) and excess applications for 1 990 533 claw-back shares constituting 0.07% of the subscription (“excess applications”) were received from Beige shareholders (or their renouncees). The subscription price of R3 317 466.10 in respect of the applications and excess applications will be paid to the subscriber. The balance of 2 834 126 695 claw-back shares, constituting 94.47% of the subscription (including the allocation to which the subscriber is entitled), not applied for by Beige shareholders or their renounces, has been credited to the subscriber’s central securities depository participant. 2.2 Following the closing of the claw-back offer, the subscriber holds 4 115 605 724 Beige shares, representing 90.57%% of the total issued share capital of Beige. 12 May 2015 Designated Advisor Arbor Capital Sponsors Proprietary Limited Date: 12/05/2015 03:10:00 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.