Dealings in Securities by a Subsidiary Director Wilderness Holdings Limited (Registration number 2004/2986) (Registered as an external company in South Africa Registration number 2009/022894/10) ISIN: BW0000000868 Share code: WIL (“Wilderness” or “the Company”) DEALING IN SECURITIES BY A SUBSIDIARY DIRECTOR In terms of the Wilderness Holdings Share Scheme 2011 certain share appreciation rights (SARs) were granted to senior management of the Wilderness Holdings Group on 13 June 2011. The SARs are settled in Wilderness Holdings Limited ordinary shares. In compliance with paragraphs 3.63 to 3.74 of the Listings Requirements of the Johannesburg Stock Exchange (“JSE”), shareholders are advised that a director of Wilderness Safaris Proprietary Limited, a subsidiary of Wilderness Holdings Limited has acquired of shares as follows: Name of director: Francis Antrobus Date of transaction: 14 July 2017 Name of Company Wilderness Holdings Limited Number of securities: 44 757 Class of securities: Ordinary shares Nature of transaction: Off-market issue and acceptance of shares to settle the rights that have vested in terms of the Wilderness Group Share Plan 2011. Price per share: The shares were issued for no consideration. The deemed issue price of the shares is the closing price on 19 July 2017 of P5.25 on the Botswana Stock Exchange (“BSE”) and R7.15 on the Johannesburg Stock Exchange (“JSE”). Nature of interest: Direct beneficial Extent of interest: 0.02% Value of transaction: R320 012.55 based on the closing price of R7.15 on the JSE (BWP234 974.25 based on the BSE closing price of BWP5.25 on 19 July 2017). How traded Off Market Clearance to deal obtained: Yes By Order of the Board Gaborone, 20 July 2017 +267 392 6886 Sponsor Arbor Capital Sponsors Proprietary Limited Date: 20/07/2017 04:00:00 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.