Changes to the board and its committees SABVEST LIMITED (Incorporated in the Republic of South Africa) Registration number 1987/003753/06 ISIN: ZAE000006417 SBV Ordinary shares ISIN: ZAE000012043 SVN N Ordinary shares (“Sabvest” or “the Company”) CHANGES TO THE BOARD AND ITS COMMITTEES Shareholders are advised that Philip Coutts-Trotter (Philip) and Carl Coutts-Trotter (Carl) will resign as directors of the Company with effect from 31 October 2017. Philip stepped down as Chairman of Sabvest earlier this year but continued in office as a director. He has also relinquished his executive responsibilities at S A Bias Industries (Pty) Limited (S A Bias Industries) - Sabvest’s largest investee company - but continues in the role of Non- Executive Chairman of S A Bias. In line with the reduction in his business commitments it has been agreed that Philip will retire from the Sabvest board this month. Carl’s role as Chief Executive Officer of the S A Bias Group, an international Group with operations in 12 countries, currently requires his full time attention, particularly now that Philip is no longer serving in an executive capacity. It has accordingly been agreed that Carl will also step off the Sabvest board this month and focus solely on his S A Bias Industries responsibilities. Both Philip and Carl have been extremely valuable board members for many years and we thank them very sincerely for their participation and support. The relationship may have changed in form but will continue to be close and interactive through S A Bias Industries in the future. The Sabvest board will comprise five directors – two executive and three independent non-executive. The board committees will be reconstituted as follows: Audit & Risk Committee Nigel Hughes (independent non-executive Chairman) Dawn Mokhobo (independent non-executive) Bheki Shongwe (independent non-executive) Remuneration Committee Bheki Shongwe (independent non-executive Chairman) Nigel Hughes (independent non-executive) Dawn Mokhobo (independent non-executive) Nominations Committee Dawn Mokhobo (independent non-executive Chairman) Nigel Hughes (independent non-executive) Bheki Shongwe (independent non-executive) Sandton 24 October 2017 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 24/10/2017 12:30:00 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.