Dealings in securities by the Pinnacle Holdings Limited Forfeitable Share Plan Pinnacle Holdings Limited (Incorporated in the Republic of South Africa) Registration number 1986/000334/06 Share Code: PNC ISIN: ZAE000184149 (“Pinnacle” or “The Company”) DEALINGS IN SECURITIES BY THE PINNACLE HOLDINGS LIMITED FORFEITABLE SHARE PLAN (“FSP”) In compliance with Schedule 14.9 and paragraphs 3.63 to 3.74 of the Listings Requirements of the JSE Limited, shareholders are hereby advised of the following dealings in Pinnacle securities by the FSP: NAME OF SCHEME Pinnacle Holdings Limited Forfeitable Share Plan TYPE OF SECURITIES Shares CLASS OF SECURITIES Ordinary DATE OF THE TRANSACTION 20 January 2017 (1) CENTS PER SHARE 1 849.92 (1) NUMBER OF SECURITIES TRANSACTED 93 149 (1) TOTAL RAND VALUE OF SECURITIES R1 723 181.98 (1) DATE OF THE TRANSACTION 24 January 2017 (2) CENTS PER SHARE 1 850.00 (2) NUMBER OF SECURITIES TRANSACTED 44 907 (2) TOTAL RAND VALUE OF SECURITIES R830 779.50 (2) DATE OF THE TRANSACTION 25 January 2017 (3) CENTS PER SHARE 1 841.43 (3) NUMBER OF SECURITIES TRANSACTED 250 806 (3) TOTAL RAND VALUE OF SECURITIES R4 618 416.93 (3) DATE OF THE TRANSACTION 26 January 2017 (4) CENTS PER SHARE 1 850.00 (4) NUMBER OF SECURITIES TRANSACTED 7 500 (4) TOTAL RAND VALUE OF SECURITIES R138 750.00 (4) Purchase of securities to settle obligations of the NATURE OF TRANSACTIONS FSP to participants (On-market transaction) NATURE OF INTEREST Direct Beneficial CLEARANCE OBTAINED Yes Midrand 27 January 2017 Sponsor Deloitte & Touche Sponsor Services (Pty) Ltd Date: 27/01/2017 04:26:00 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.