Cautionary announcement The Bidvest Group Limited (Incorporated in the Republic of South Africa) Registration number: 1946/021180/06 Share code: BVT ISIN ZAE 000117321 (“Bidvest” or “Bidvest Group”) Cautionary announcement Shareholders of Bidvest (“Shareholders”) are referred to the announcement released on the Stock Exchange News Service of the JSE Limited (“JSE”) on October 7 2015 (“the October 7 Announcement”) in terms of which Shareholders were advised that Bidvest was in the process of formalising the restructure of its business operations and management focus. Further to the rationale set out in the October 7 Announcement and in order to provide Shareholders with the opportunity to participate directly in Bidvest’s foodservice operations (the “Foodservice Business”), Bidvest intends to unbundle and separately list the Foodservice Business on the main board of the JSE (“the Proposed Transaction”). The successful completion of the Proposed Transaction will be subject to conditions precedent, including approval by the relevant regulatory authorities. If successfully concluded, the Proposed Transaction may have an effect on the price of Bidvest’s securities. Accordingly, Shareholders are advised to exercise caution when trading in Bidvest securities until a further announcement in this regard is made. Johannesburg February 8 2016 Financial advisor and transaction sponsor The Standard Bank of South Africa Limited Legal advisor ENSAfrica Tax advisor Cliffe Dekker Hofmeyr Sponsor Investec Date: 08/02/2016 07:05:00 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.