General Repurchase Of Ordinary Shares GRAND PARADE INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration Number 1997/003548/06) Share code: GPL ISIN: ZAE000119814 (“GPI” or “the Company” or “the Group”) GENERAL REPURCHASE OF ORDINARY SHARES In the notice of the GPI annual general meeting held 2 December 2015 (“AGM”), shareholders approved the repurchase of ordinary shares by way of a special resolution. Shareholders were further advised that any repurchases under the general authority would be at market value in accordance with the provisions set out under the relevant special resolution. At the AGM, shareholders granted a general authority to the board of GPI to repurchase up to 5% of the issued ordinary share capital of GPI. Shareholders are hereby advised that GPI has repurchased 14 905 569 ordinary shares, representing 3.05% of the issued ordinary share capital as at the date of the authority to repurchase the ordinary shares was granted, out of the Company’s available cash resources. The aforementioned ordinary shares were repurchased for an aggregate value of R52 349 331 Date of Number of Highest price Lowest price Aggregate repurchases ordinary per ordinary per ordinary value shares share share repurchased repurchased repurchased 29 June 2016 14 905 569 R3.61 R3.42 R52 349 331 to 28 July 2016 The repurchases were made in terms of the general authority granted by shareholders at the AGM, and were effected through the order book operated by the JSE trading system without any prior understanding or arrangement between the Company and the counterparties. The general repurchase of ordinary shares has been complied with in terms of paragraph 5.72(a) of the JSE Listings Requirements. The repurchases took place in accordance with a repurchase programme submitted to the JSE prior to the prohibited period in terms of paragraph 5.72(h) of the JSE Listings Requirements. The ordinary shares repurchased will be held as Treasury shares by a wholly-owned subsidiary of GPI. GPI is entitled to repurchase a further 14 809 443 ordinary shares (3.03% of the ordinary shares in issue as at the date of the authority), in terms of the current general authority, which is valid until GPI’s next AGM. As at the date of this announcement, the Company held 36 705 152 ordinary shares in treasury. The impact of the repurchase of the ordinary shares on the financial information of the Company is immaterial. The ordinary shares were repurchased from excess cash resources of the Company. Opinion Of The Board Of The Company The board of GPI has considered the effect of the repurchases and is of the opinion that, for a period of 12 months following the date of this announcement: - the Company and the Group will be able, in the ordinary course of business, to repay their debts for a period of 12 months after the date of this announcement; - the consolidated assets of the Company and the Group will be in excess of the consolidated liabilities of the Company and the Group for a period of 12 months after the date of this announcement; - the Company’s and the Group’s share capital and reserves will be adequate for the purposes of the business of the Company and the Group for a period of 12 months after the date of this announcement; and - the Company and the Group will have sufficient working capital for ordinary business purposes. Cape Town 29 July 2016 Sponsor PSG Capital Date: 29/07/2016 03:15:00 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.