Non-beneficial dealings in securities by an associate of directors of Pivotal THE PIVOTAL FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2005/030215/06) JSE share code: PIV ISIN: ZAE000196440 (“Pivotal”) NON-BENEFICIAL DEALINGS IN SECURITIES BY AN ASSOCIATE OF DIRECTORS OF PIVOTAL Shareholders are advised that the Path Trust (of which Thys Neser and Dave Savage, both directors of Pivotal, are trustees and potential beneficiaries), in terms of the Abcon Staff Incentive Scheme (“the share scheme”), has entered into an on-market sale of shares on behalf of and at the request of participants of the share scheme, being employees of Abcon Proprietary Limited (but not employees of Pivotal), as further set out below: Transaction date: 20 August 2015 Class of securities: Ordinary shares Number of securities: 113 676 Price per security: R21.00 Total value: R2 387 196.00 Nature and extent of directors’ interest: None Transaction date: 21 August 2015 Class of securities: Ordinary shares Number of securities: 24 144 Price per security: R21.00 Total value: R507 024.00 Nature and extent of directors’ interest: None Transaction date: 25 August 2015 Class of securities: Ordinary shares Number of securities: 10 000 Price per security: R20.85 Total value: R208 500.00 Nature and extent of directors’ interest: None Transaction date: 26 August 2015 Class of securities: Ordinary shares Number of securities: 20 000 Price per security: R20.85 Total value: R417 000.00 Nature and extent of directors’ interest: None Transaction date: 28 August 2015 Class of securities: Ordinary shares Number of securities: 89 240 Highest traded price per security: R20.60 Weighted average price per security: R20.3948 Lowest traded price per security: R20.30 Total value: R1 820 031.10 Nature and extent of directors’ interest: None Transaction date: 31 August 2015 Class of securities: Ordinary shares Number of securities: 22 960 Highest traded price per security: R20.49 Weighted average price per security: R20.20266 Lowest traded price per security: R20.20 Total value: R463 853.10 Nature and extent of directors’ interest: None 1 September 2015 Sponsor Java Capital Date: 01/09/2015 03:30:00 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.