Repurchase Programme of Ordinary Shares ("the repurchase programme) CAXTON AND CTP PUBLISHERS AND PRINTERS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1947/026616/06) Share code: CAT ISIN: ZAE000043345 Preference share code: CATP ISIN: ZAE000043352 (“the company”) REPURCHASE PROGRAMME OF ORDINARY SHARES (“the repurchase programme”) Shareholders are advised that the company has with effect from Monday, 21 November 2016, commenced the repurchase programme. The company may, in accordance with the general authority to repurchase ordinary shares granted to the board of directors at the annual general meeting of the company held on 9 December 2015 (“the AGM”), purchase up to 20% of its issued ordinary share capital (79 606 130 ordinary shares). Since the date of the AGM the company has purchased 1 186 780 ordinary shares and it may therefore purchase an additional 78 419 350 ordinary shares in terms of the repurchase programme, subject to the provisions of the Companies Act, 2008 and the Listings Requirements of the Johannesburg Stock Exchange (“the JSE”) The repurchase programme will continue until the close of business on 31 March 2017, which period will include a closed period in respect of the publication of the company’s interim results for the six months ended 31 December 2016. These results are expected to be released on or about 22 February 2017. Shares purchased in terms of the repurchase programme will not be purchased at a price greater than 10% above the volume weighted average price per ordinary share of the company over the 5 trading days preceding any particular purchase and will be effected through the order book operated by the JSE. The repurchase programme may be discontinued at any stage during the period concerned and there is no obligation on the company to purchase any shares during the period. By order of the board Johannesburg 23 November 2016 Sponsor Arbor Capital Sponsors Proprietary Limited (Registration number 2006/033725/07) Date: 23/11/2016 07:05:00 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.