Signature of a Share Sale and Subscription Agreement with Black Management Forum Investment Company Limited PEMBURY LIFESTYLE GROUP LIMITED (Incorporated in the Republic of South Africa) (Registration number 2013/205899/06) (“PL Group” or “the Company”) ISIN Code: ZAE000222949 JSE Code: PEM SIGNATURE OF A SHARE SALE AND SUBSCRIPTION AGREEMENT WITH BLACK MANAGEMENT FORUM INVESTMENT COMPANY LIMITED (“BMFI”) Shareholders are advised that a binding share sale and subscription agreement has been signed between PL Group and BMFI, subject to certain conditions precedent. BMFI is not a related party to PL Group. In terms of the agreement, BMFI will acquire between 56 000 000 and 57 000 000 shares by way of acquisition of 37 000 000 existing shares from property vendors and the subscription for a minimum of 19 000 000 PL Group shares, up to a maximum of 20 000 000 PL Group shares at a subscription price of R0.90 per share, totalling a minimum purchase consideration of R17 100 000 and a maximum purchase consideration of R18 000 000 (“Subscription Shares"). The Subscription Shares will be issued under the general authority to issue shares for cash. The subscription price of R0.90 per share is at a small premium to the 30-day volume weighted average price at 1 June 2017. The resulting inflow of cash will be used to strengthen the Company’s cash flow position, providing it with more funds for property acquisitions and planned capital expenditure activities. Ultimately, the transaction will result in BMFI holding approximately 15% of PL Group’s shares in issue. The above transaction remains subject to the fulfilment of certain suspensive conditions, including, among others, the completion of a comprehensive due diligence by BMFI on the Company and board and regulatory approvals, where necessary. A further announcement will be made once the conditions precedent have been met. BMFI will be entitled to nominate one director to PL Group’s board and will retain such nominee for as long as it holds an equity interest in the Company. BY ORDER OF THE BOARD Johannesburg 2 June 2017 Designated Advisor Arbor Capital Sponsors Date: 02/06/2017 04:10:00 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.