Dealings in securities by directors Alexander Forbes Group Holdings Limited (Incorporated in the Republic of South Africa) (Registration number: 2006/025226/06) ISIN: ZAE000191516 Share Code: AFH (“Company”) DEALINGS IN SECURITIES BY DIRECTORS In compliance with the JSE Limited Listings Requirements, the following information is disclosed in respect of dealings in securities by directors of the Company. Vesting of awards granted and accepted in terms of Long Term Incentive Plan Conditional share awards granted and accepted in July 2014 in terms of the Company’s Long Term Incentive Plan, with a 3-year vesting period, , have vested on 24 July 2017, as indicated below: Director Number of awards Grant price Transaction value vested B Bydawell 54,750 R6.80 R372,300.00 V Naicker 109,500 R6.80 R744,600.00 S Price 91,250 R6.80 R620,500.00 Clearance to deal has been obtained in respect of each of the above transactions, the nature of each transaction is the vesting of conditional awards granted and accepted in respect of ordinary shares, the nature of each interest is direct, beneficial and the transactions were effected off-market. Disposal of shares Director : V Naicker Company : Alexander Forbes Group Holdings Limited Date of transaction : 24 July 2017 Nature of transaction : Sale of shares Class of securities : Ordinary shares Number of securities : 109,500 Sale price : R6.80 per share Total value of transaction : R744,600.00 Nature of director’s interest : Direct, beneficial Clearance obtained* : Yes Transaction completed : On-market Sandton 27 July 2017 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 27/07/2017 05:12:00 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.