Results of the Mandatory Offer MONTAUK HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2010/17811/06) (Previously HCI International Holdings Limited and Elgabrite Proprietary Limited) Share code: MNK ISIN: ZAE000197455 (“Montauk”) RESULTS OF THE MANDATORY OFFER Shareholders are referred to the Stock Exchange News Service (“SENS”) announcement released by Montauk on Wednesday, 4 March 2015 (“Offer SENS”), as well as the mandatory offer document posted to shareholders on 25 March 2015, which contained details of the mandatory offer made by a consortium to acquire all the Montauk shares that it does not already own for a cash consideration of 320 cents per Montauk share. The abovementioned mandatory offer closed at 12:00 on Friday, 15 May 2015. Shareholders are hereby advised that in terms of the mandatory offer, the consortium received acceptances from Montauk shareholders holding 17,675,183 Montauk shares, constituting approximately 13.1% of the issued ordinary shares of Montauk. Prior to the mandatory offer, the consortium held 44.1% of the issued share capital of Montauk. Subsequent to the closing of the mandatory offer, the consortium holds approximately 57.2% of the issued share capital of Montauk. Cape Town 18 May 2015 Investment Bank: Investec Bank Limited Sponsor to Montauk: Investec Bank Limited Legal Advisers: Edward Nathan Sonnenbergs Inc Date: 18/05/2015 02:02:00 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.