Repurchase Of Shares On The Open Market Lewis Group Limited Registration Number: 2004/009817/06 Share Code: LEW ISIN Code: ZAE 000058236 (“Lewis” or “the company”) REPURCHASE OF SHARES ON THE OPEN MARKET 1. INTRODUCTION In terms of paragraph 5.79 and 11.27 of the JSE Listing Requirements, shareholders are advised that Lewis has purchased 2 941 739 (3% of issued share capital at beginning of share repurchase program) of its own ordinary shares in terms of the general authority granted by shareholders at the company’s annual general meeting held on 21 October 2016. The company has fully utilised its authority to conduct a general repurchase of shares granted at said annual general meeting. The general repurchase was effected through the order book operated by the JSE trading system without any prior understanding or arrangement between Lewis and the counter parties. No shares were repurchased during any prohibited period. The repurchase was funded from available cash resources. 2. DETAILS OF THE REPURCHASE Dates of repurchase of securities: Between 30 May 2017 and 29 September 2017 Highest price paid per Share: R 35.50 Lowest price paid per Share: R 28.62 Number of Shares repurchased: 2 941 739 Value of Shares repurchased: R 94 151 406 The number of Shares which may still be Nil repurchased by the Company in terms of the General Authority: The percentage of Shares which may still be Nil repurchased by the Company in terms of the General Authority: Total shares in issue after the share 95 116 220 repurchase (Note 1): Number of treasury shares held after the 9 216 928 treasury shares held by Lewis Stores share repurchase Proprietary Limited as a consequence of a share repurchase program conducted in 2005, 2006 and 2007. Note 1: The 95 116 220 shares reflected above assume that all 2 941 739 shares have been delisted by the JSE. At the date of this announcement, 2 257 040 shares have been delisted reflecting an issued share capital of 95 800 919 shares. The remaining shares repurchased will be delisted on 4 October 2017. 3. STATEMENT BY THE DIRECTORS The directors of Lewis confirm that, after considering the effect of the above share repurchases, for a period of 12 months after the date of this announcement: - Lewis and its subsidiaries (“the group”) will be able in the ordinary course of business to pay its debts; - the assets of Lewis and the group will be in excess of the liabilities of Lewis and the group; - the share capital and reserves of Lewis and the group will be adequate for ordinary business purposes; and - the working capital of Lewis and the group will be adequate for ordinary business purposes. 4. IMPACT OF SHARE REPURCHASE PROGRAM ON FINANCIAL INFORMATION The impact of the share repurchase program on the financial statements of the company and the group is not material. The net effect has been a cash outflow of R 94.2 million and a corresponding reduction in shareholder’s equity and will result in the interest earned on the cash resources being forgone in future. Cape Town 2 October 2017 Sponsor: UBS South Africa Proprietary Limited Date: 02/10/2017 04:35:00 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.