Finalisation Announcement and Timetable for Scheme of Arrangement RARE HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration Number: 2002/025247/06 Share Code: RAR ISIN: ZAE000180626 ("Rare" or "the Company") FINALISATION ANNOUNCEMENT AND TIMETABLE FOR SCHEME OF ARRANGEMENT Rare shareholders are referred to the joint circular issued by Rare and Mayfair Speculators Proprietary Limited (“Mayfair”) to Rare shareholders dated 25 July 2016 (“the Circular”) regarding Mayfair’s offer to acquire all the ordinary shares in Rare, excluding those ordinary shares held by Mayfair, Stafric Investment and Management Services Proprietary Limited and Doculate Investments Proprietary Limited, being 5 345 825 ordinary shares (“the Scheme”). The Scheme was approved by Rare shareholders on 24 August 2016. Shareholders are further referred to the conditions precedent to the Scheme (“Scheme Conditions”), as detailed in the Circular, and are hereby advised that all Scheme Conditions have been fulfilled. As a result of the Scheme becoming unconditional, the Company wishes to draw shareholders’ attention to the following important dates in relation to the implementation of the Scheme. Terms appearing in title case below that are not otherwise defined bear the meanings assigned to them in the Circular. The important dates and times relating to the Scheme are set out below. 2016 Scheme last day to trade expected on Tuesday, 20 September Listing of Rare Shares suspended on the Wednesday, 21 JSE from commencement of trade on September Scheme Consideration Record Date, being Friday, 23 the date on which the Scheme Participants September must be recorded in the Register in order to receive the Scheme Consideration, expected to be on Operative Date of the Scheme on Monday, 26 September Scheme Consideration to be paid/posted to Monday, 26 Certificated Scheme Participants on September Dematerialised Scheme Participants Monday, 26 expected to have their accounts (held at September their CSDP or Broker) credited with the Scheme Consideration on or about Termination of listing of Rare Shares on Tuesday, 27 the JSE to take place at the commencement September of trade on the JSE on Note: All times referred to above are references to South African time. Johannesburg 12 September 2016 Transaction Advisor and Designated Advisor: PSG Capital (Pty) Limited Date: 12/09/2016 02:14:00 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.