Updated cash dividend declaration and finalisation announcement ROLFES HOLDINGS LIMITED (Registration number 2000/002715/06) Incorporated in South Africa Share Code: RLF ISIN: ZAE000159836 (“Rolfes” or “the Group”) www.rolfesza.com UPDATED CASH DIVIDEND DECLARATION AND FINALISATION ANNOUNCEMENT Shareholders are referred to the unaudited condensed consolidated interim results for the period ended 31 December 2016, which was released on SENS on 20 February 2017, and are advised that the local dividend tax rate was increased to 20% with an effective date of 22 February 2017. The cash dividend declaration data has therefore been updated accordingly, as indicated below. CASH DIVIDEND DECLARATION AND FINALISATION DATA In accordance with Board policy to review dividend payments to shareholders at the end of each reporting period, notice is hereby given that the Board declared a final gross cash dividend of 4 cents per ordinary share for the 6 months ended 31 December 2016 ("interim dividend"). The interim dividend will be payable to shareholders recorded in the register of the Company at the close of business on the record date appearing below. The number of ordinary shares in issue at the date of this declaration is 161 942 800. The salient dates applicable to the interim dividend are as follows: Declaration date: Monday, 20 February 2017 Last date to trade cum dividend: Tuesday, 28 March 2017 Shares commence trading ex-dividend: Wednesday, 29 March 2017 Record date: Friday, 31 March 2017 Payment Date: Monday, 3 April 2017 In accordance with paragraphs 11.17(c) (i) to (x) and 11.17(c) of the JSE Listings Requirements, the following additional information is disclosed: - The local dividends tax rate is 20%; - The dividends will be paid from income reserves; - The gross dividend to be used in determining the dividends tax is 4 cents per ordinary share; - The dividend tax to be withheld by the Company is equal to 0.80000 cents per ordinary share; - The gross dividend amount is 4 cents per ordinary share for shareholders exempt from dividends tax; - The net dividend amount is 3.20000 cents per ordinary share for shareholders not exempt from dividends tax; - Rolfes Holdings Limited has 161 942 800 ordinary shares in issue (which includes 641 332 treasury shares); and - Rolfes Holdings Limited’s income tax reference number is 9492/089/14/0. Where applicable, payment in respect of certificated shareholders will be transferred electronically to shareholders’ bank accounts on the payment date. In the absence of specific mandates, payment cheques will be posted to certificated shareholders at their risk on the payment date. Shareholders who have dematerialised their shares will have their accounts at their Central Securities Depository Participant or broker credited on the payment date. No share certificates may be dematerialised between Wednesday, 29 March 2017 and Friday, 31 March 2017 both days inclusive. 24 February 2017 SPONSORS Grindrod Bank Limited Date: 24/02/2017 03:17:00 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.