Update regarding the Acquisition of ATFS' Loan Book and Withdrawal of Cautionary Announcement Sasfin Holdings Limited (Incorporated in the Republic of South Africa) (Registration Number 1987/002097/06) Ordinary share code: SFN ISIN: ZAE000006565 Preference share code: SFNP ISIN: ZAE000060273 (“Sasfin” or “the Company”) UPDATE REGARDING THE ACQUISITION OF ABSA TECHNOLOGY FINANCE SOLUTIONS PROPRIETARY LIMITED’S (“ATFS”) LOAN BOOK AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT 1. Introduction Sasfin shareholders (“Shareholders”) are referred to the announcement published on 13 March 2017 wherein they were advised that Sasfin had concluded a binding offer with ATFS, in terms of which, subject to the fulfilment or waiver (where capable of waiver) of certain conditions precedent, Sasfin or its nominee will acquire ATFS’ entire loan book, ATFS’ staff and information technology systems related to the management of the loan book (“Acquisition”). Shareholders are also referred to the subsequent renewal of cautionary announcements published on 28 April 2017, 8 June 2017, 21 July 2017 and 21 August 2017. 2. Update regarding the Acquisition Shareholders are advised that the parties have entered into the definitive agreements relating to the Acquisition. However, the Acquisition is still subject to the fulfilment or waiver (where capable of waiver) of several conditions precedent including regulatory approvals and Sasfin Shareholder approval. The Acquisition is a Category 1 transaction in terms of the JSE Limited Listings Requirements and therefore requires Shareholder approval. A circular incorporating a notice convening a general meeting and setting out information regarding the Acquisition (“Circular”) will be despatched to Shareholders in due course. 3. The net assets and profits attributable to the Acquisition The value of the net assets that are the subject of the Acquisition was R1 404 169 987 as at 30 June 2017. This information has been extracted from ATFS’ statement of financial position as at 30 June 2017 as set out in ATFS’ unaudited management accounts. The profit after tax attributable to such net assets for the twelve months ended 30 June 2017 was R25 587 364. This information was derived by: - deducting ATFS’ unaudited management accounts for the six months ended 30 June 2016 from ATFS’ audited results for the year ended 31 December 2016 (prepared in accordance with International Financial Reporting Standards); and - aggregating same with ATFS’ unaudited management accounts for the six months ended 30 June 2017 in order to reflect the most recent twelve months of profit after tax attributable to the Acquisition. The accounting policies applied when preparing the aforementioned management accounts were consistent with those applied when preparing the audited financial statements for the year ended 31 December 2016. The Company is satisfied with the quality of the unaudited management accounts from which this financial information has been extracted or derived. ATFS’ audited financial information for the three years ended 31 December 2016, the interim results for the six months ended 30 June 2016 and 30 June 2017 (which will be reviewed for purposes of the Circular) and the detailed pro forma financial effects (“Financial Effects”) of the Acquisition will be presented in the Circular. 4. Withdrawal of cautionary announcement Shareholders are referred to the most recent renewal of cautionary announcement published on the Stock Exchange News Service on 21 August 2017. Further to the information regarding the net assets and profits attributable to the Acquisition set out in paragraph 3 above, caution is no longer required to be exercised by Shareholders when dealing in their Sasfin securities. Johannesburg 11 October 2017 Corporate Adviser and Lead Sponsor Sasfin Capital (a member of the Sasfin Group) Independent Sponsor Deloitte & Touche Sponsor Services Proprietary Limited Legal Adviser to Sasfin regarding the Acquisition Werksmans Attorneys Reporting Accountant on the Financial Effects Grant Thornton Date: 11/10/2017 04:48:00 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.