Stellar Capital / Prescient - Joint cautionary announcement STELLAR CAPITAL PARTNERS LIMITED PRESCIENT LIMITED (Incorporated in the Republic of South Africa) (Incorporated in the Republic of South Africa) (Registration number 1998/015580/06) (Registration number 1936/008278/06) (“Stellar Capital”) (“Prescient”) Share code: SCP Share code: PCT ISIN: ZAE000198586 ISIN: ZAE000163531 JOINT CAUTIONARY ANNOUNCEMENT Shareholders of Stellar Capital and Prescient are advised that Stellar Capital and Prescient have entered into exclusive discussions regarding a potential transaction (the “Proposed Transaction”) in respect of Prescient’s financial services operations (“PFH” or the “Business”). The Proposed Transaction will be facilitated by Stellar Capital and includes three primary, inter- conditional steps: 1. The unbundling of PFH to Prescient’s shareholders; 2. The introduction of a significant black economic empowerment (“BEE”) shareholder to PFH; and 3. A strategic investment by Stellar Capital in PFH via the acquisition of shares from Prescient’s shareholders who wish to exit their PFH holding gained as a result of the unbundling. The management team of PFH will remain invested in the Business following the Proposed Transaction. The Proposed Transaction, if successfully concluded, may have a material effect on the prices of Stellar Capital’s and Prescient’s shares. Accordingly, shareholders of Stellar Capital and Prescient are advised to exercise caution when dealing in Stellar Capital’s and Prescient’s shares, respectively, until a further announcement is made. Johannesburg Cape Town 19 April 2016 Merchant bank and sponsor to Stellar Capital Sponsor to Prescient RAND MERCHANT BANK (A division of Bridge Capital Advisors Proprietary Limited FirstRand Bank Limited) Legal advisor to Stellar Capital Cliffe Dekker Hofmeyr Incorporated Date: 19/04/2016 12:00:00 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.