Fraction rate announcement Brait SE (Registered in Malta as a European Company) (Registration No.SE1) Share code: BAT ISIN: LU0011857645 Bond code: WKN: A1Z6XC ISIN: XS1292954812 LEI code: 549300VB8GBX4UO7WG59 (“Brait”, “the Company”) FRACTION RATE ANNOUNCEMENT Shareholders are referred to the Company’s audited financial results for the year ended 31 March 2017, released on the website of the Luxembourg Stock Exchange (“LuxSE”) and the Stock Exchange News Service of the Johannesburg Stock Exchange (“JSE”) on 13 June 2017. The Bonus Share Issue with Cash Dividend Alternative proposed by the directors was approved by shareholders at the annual general meeting, as announced on 26 July 2017. Shareholders were further advised that where a shareholder's entitlement to New Shares calculated in accordance with the conversion ratio gives rise to a fraction of an ordinary share, such fraction of an ordinary share will be rounded down to the nearest whole number with the fraction being paid in cash, irrespective of whether the shareholder has completed a cash election form or not. The fraction paid in cash will be deemed a cash dividend and treated as such for tax purposes. The fraction rate has been calculated, in accordance with listing requirements as the volume weighted average price of a Brait share traded on the LuxSE and JSE on Wednesday, 2 August 2017 (being the day on which the Brait share began trading ‘ex’ the entitlement to receive the Bonus share issue or cash dividend alternative), as EUR3.59653/ZAR56.31621 (EUR3.99614/ZAR62.57357 discounted by 10%). After applying a 20% dividend tax, where applicable, the fraction rate is EUR2.87722/ZAR45.05297 net of dividend tax. Malta 3 August 2017 Brait’s primary listing is on the Euro MTF market of the Luxembourg Stock Exchange and its secondary listing is on the Johannesburg Stock Exchange. Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 03/08/2017 01:00:00 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.