Acceptance of long term incentive awards by group company secretary Alexander Forbes Group Holdings Limited (Incorporated in the Republic of South Africa) (Registration number: 2006/025226/06) ISIN: ZAE000191516 Share Code: AFH (“the Company” or “Alexander Forbes” or “the Group”) ACCEPTANCE OF LONG TERM INCENTIVE AWARDS BY GROUP COMPANY SECRETARY In accordance with paragraph 3.63 of the JSE Limited Listings Requirements, shareholders are advised that the Group Company Secretary of the Company received allocations and accepted awards in accordance with the Company’s long-term incentive conditional share plan (“the Conditional Awards”) and forfeitable share plan (“the Forfeitable Awards”) as follows. The allocations and their acceptances have received clearance from the Remuneration Committee. Group Company Secretary : CH Wessels Company : Alexander Forbes Group Holdings Limited Date of acceptances : 8 December 2017 Nature of transaction : Off market acceptance of Conditional Awards Class of securities : Conditional Awards in respect of ordinary shares Number awarded : 165 079 3 day VWAP : R6.30 Transaction value : R1 039 997.70 Nature of interest : Direct beneficial Vesting period : Three years from date of allocation Nature of transaction : Off market acceptance of Forfeitable Awards Class of securities : Forfeitable Awards in respect of ordinary shares Number awarded : 645 583 3 day VWAP : R6.30 Transaction value : R4 067 172.90 Nature of interest : Direct beneficial Vesting period : 239 802 awards on 1 April 2018 286 481 awards on 1 April 2019 78 030 awards on 1 April 2020 41 270 awards on 24 July 2020 Carina Wessels Group Company Secretary 11 December 2017 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 11/12/2017 12:51:00 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.