Global Credit Rating Announcement Trustco Group Holdings Limited Incorporated in the Republic of Namibia (Registration number 2003/058) NSX share code: TUC JSE share code: TTO ISIN Number: NA000A0RF067 (“Trustco” or "the Group") Global Credit Rating Announcement Global Credit Rating Company (“GCR”) has affirmed Trustco’s national scale long term rating of BBB+(NA) and affirmed its short term rating of A2(NA); with the outlook accorded as stable. GCR notes the following in its rating rationale: - The ratings of Trustco reflect an entrenched financial services position (in education finance and mass-market insurance), and value-adding property investments in Namibia. - Furthermore, the ratings (and outlook) consider Trustco’s very strong capitalisation, increasing operational scale, improved organisational efficiency, and long-term earnings diversification plans (which include securing and developing opportunities in the diamond sector), against a challenging domestic environment (characterised by weaker economic and property price growth rates) support the ratings. - Significant synergies that exist between Trustco’s operating segments, and its strategy of enhancing sustainability and diversification of earnings, while prioritising stakeholder needs, support the Group’s earnings prospects. The rating is valid until August 2018 and the full report is available at http://globalratings.net and on http://www.tgh.na/investors/global-credit-rating/ A Bruyns Company Secretary 25 August 2017 JSE Debt Sponsor Sasfin Capital: (a member of the Sasfin Group) NSX Sponsor Simonis Storm Securities (Pty) Limited Date: 25/08/2017 10:57:00 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.