Private Placement Issue Price STADIO HOLDINGS LIMITED (Previously Embury Holdings Proprietary Limited) (Incorporated in the Republic of South Africa) Registration number: 2016/371398/06 JSE share code: SDO ISIN ZAE000248662 (“STADIO”) PRIVATE PLACEMENT ISSUE PRICE Shareholders are referred to the SENS announcement released by STADIO on 30 October 2017, in which it was announced that STADIO intends to raise up to approximately R200 million through a private placement (“Private Placement”) by way of an offer to Brimstone Investment Corporation Limited and Black Persons (being natural persons defined as Black People in the B-BBEE Act and the B-BBEE Codes) that are invited to subscribe (“Invited Investors”) for approximately 67 000 000 to 80 000 000 (but no more than 87 000 000) STADIO Shares (“Private Placement Shares”). Details of STADIO and the Private Placement appear in the prospectus which was published by STADIO on 30 October 2017 (“Prospectus”), which remains available on STADIO’s website (www.stadio.co.za). As stated in the announcement and the Prospectus, the Private Placement Shares will be issued at a price per Private Placement Share being the lower of R2.96 and the volume weighted average price of a STADIO Share for the 30 trading day period after 3 October 2017, being the date on which STADIO was listed on the JSE, less a 20% discount (“Discounted Trading Price”), which will be advised by PSG Capital to Invited Investors and will be announced on SENS (“Private Placement Issue Price”). STADIO accordingly herewith confirms that the final Private Placement Issue Price per Private Placement Share will be R2.96 (as it is lower than the Discounted Trading Price). Should you have any specific queries with regards to the Private Placement, you are welcome to contact Willie Honeyball on willieh@psgcapital.com or 021-887-9602 / 071-173-4729; or Johannes Human on johannesh@psgcapital.com or 021-887-9602 / 074-894-7189. Durbanville 14 November 2017 Transaction Advisor, Sole Bookrunner and Sponsor: PSG Capital Proprietary Limited Date: 14/11/2017 03:00:00 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.