Update on Strategic review Barloworld Limited (Incorporated in the Republic of South Africa) (Registration number 1918/000095/06) (Income Tax Registration number 9000/051/71/5) (Share code: BAW) (JSE ISIN: ZAE000026639) (Share code: BAWP) (JSE ISIN: ZAE000026647) (Namibian Stock Exchange share code: BWL) ("Barloworld” or “the Company") Update on Strategic review During the Final Results presentation, the Company provided a further update on its strategic review and the implementation of the group’s new corporate strategy (Strategic Review). The following key initiatives were identified and have been previously reported on: - Fix and address underperforming businesses - Optimise returns from the existing portfolio - Look at high growth opportunities based on existing capabilities The Company wishes to provide a further update based on the continued implementation of some of the initiatives. The group has significant capital allocated to leasing assets. In order to further optimise capital allocation into higher returning opportunities, various options are currently under consideration in relation to the groups’ vehicle leasing assets. The group believes that by funding these assets more effectively it will enhance its overall return on capital while creating opportunities for the businesses directly or indirectly involved in leasing activities further capacity to pursue growth. The board has not taken any decisions in this regard. Sandton 7 December 2017 Sponsor: J.P. Morgan Equities South Africa Proprietary Limited Date: 07/12/2017 12:15:00 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.