Resignation and appointment of director (chief executive officer) MONTAUK HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2010/17811/06) (Share code: MNK) (ISIN: ZAE000197455) (“Montauk” or “the Company”) RESIGNATION AND APPOINTMENT OF DIRECTOR (CHIEF EXECUTIVE OFFICER) Shareholders are advised that Mr David Herrman has resigned from his position as Chief Executive Officer (“CEO”) and executive director of the Company as of the 10th June 2016. Mr Herrman has indicated that he wishes to pursue new opportunities outside of the Company, following which the Board of Directors of the Company (“the Board”) accepted his resignation. The Company wishes to thank Mr Herrman for his valued contribution to the Company during his tenure as CEO, which included the listing of Montauk on the JSE, and wishes him well in his future endeavours. Mr Martin Ryan has been appointed by the Board as Chief Executive Officer and executive director with immediate effect. Mr Herrman has made himself available to assist with the transition of responsibilities to Mr Ryan. Mr Ryan joined the Company as Vice President and General Counsel in 2007 and has held that position since. The Board congratulates Mr Ryan on his new appointment and is confident that he has the appropriate expertise and experience for his new role. Cape Town 27 May 2016 Sponsor: Investec Bank Limited Date: 27/05/2016 03:25:00 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.