Specific Repurchase of Imperial Treasury Stock Imperial Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 1946/021048/06) Ordinary share code: IPL ISIN: ZAE000067211 (“Imperial” or the “Company”) SPECIFIC REPURCHASE OF IMPERIAL TREASURY STOCK 1. INTRODUCTION AND RATIONALE Imperial herewith announces the repurchase of 7,864,456 ordinary shares (equivalent to c. 3.8% of the Company’s issued ordinary shares), held as treasury stock, from Imperial Corporate Services (Pty) Limited, a wholly owned subsidiary of Imperial, in accordance with the specific authority approved by Imperial shareholders at the Annual General Meeting held on 31 October 2012 (“Repurchase”). The board resolved that Imperial should repurchase the treasury stock from the subsidiary in order to create new capacity for the Company to repurchase further Imperial shares through its subsidiaries. 3. THE TERMS OF THE REPURCHASE In terms of the approval, Imperial has repurchased 7,864,456 ordinary shares on 4 November 2016 at a price of R167.58 per ordinary share, being the closing share price of an Imperial ordinary share on the JSE on 3 November 2016. Following the completion of the repurchase, Imperial will have nil shares remaining as treasury stock. 4. SOURCE OF FUNDS No funds or cash resources have been utilised for the repurchase as this is an intra-group transaction. 6. FINANCIAL EFFECTS No significant cash will flow outside of the Group, as this repurchase is intra-group, as such the financial effects are immaterial and therefore have not been disclosed. 8. JSE LISTING Following the completion of the repurchase, the repurchased ordinary shares will be cancelled and restored to the status of authorised shares. The listing of the repurchased shares will be terminated upon granting approval by the JSE Limited. Bedfordview 9 November 2016 Sponsor: Merrill Lynch South Africa (Pty) Limited Date: 09/11/2016 05:40:00 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.