Finalisation Announcement in respect of the Special Dividend Iliad Africa Limited Incorporated in the Republic of South Africa (Registration number 1997/011938/06) Share Code: ILA ISIN: ZAE000015038 (“Iliad” or “the Company”) FINALISATION ANNOUNCEMENT IN RESPECT OF THE SPECIAL DIVIDEND Iliad shareholders are referred to the announcement published on the Stock Exchange News Service (“SENS”) of the JSE Limited (“JSE”) on 15 December 2015 regarding finalisation of the Scheme of arrangement (“scheme”) between Steinhoff International Holdings Limited and the Iliad Shareholders as well as Iliad declaring a Special Dividend of 24 cents per share (gross) as all the conditions precedent to the Scheme have been met. Shareholders are advised that the Special Dividend of 24 cents per share (gross) is a dividend as defined in the Income Tax Act, Act 58 of 1962 (“act”), and in terms of this act; a dividend withholding tax rate of 15% is applicable to Shareholders who are not exempt from the dividend withholding tax, resulting in a net dividend amount of 20.4 cents per share. There are 138 217 794 Iliad Ordinary Shares in issue and the gross amount of the Special Dividend to be declared will be R32 177 102.40. Iliad’s tax reference number is 9269/002/71/4. Iliad has no secondary tax on companies credits available to cover the dividend withholding tax rate of 15% on shareholders not exempt. Johannesburg 17 December 2015 Sponsor and Corporate Advisor to Iliad: Bridge Capital Advisors Proprietary Limited Date: 17/12/2015 11:41:00 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.