No Change Statement,Publication Of Audited Consolidated Annual Financial Statements, Update On Corporate Development Steinhoff Africa Retail Limited (Previously K2017221869 (South Africa) Proprietary Limited) (Incorporated in the Republic of South Africa) (Registration number: 2017/221869/06) Share Code: SRR ISIN: ZAE000247995 (“STAR” or the “Company”) NO CHANGE STATEMENT AND PUBLICATION OF AUDITED CONSOLIDATED ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2017, AND UPDATE ON CORPORATE DEVELOPMENTS 1. Audited consolidated financial statements STAR shareholders are hereby advised that STAR´s full audited consolidated financial statements ("financial statements") for the year ended 30 September 2017 was published on its corporate website today, 15 December 2017. The financial statements contain no modifications to the audited results, which were announced on SENS on 4 December 2017 and may be accessed at www.steinhoffafricaretail.co.za. Shareholders are further advised to review the financial statements in combination with the annual results webcast and presentation, which are also available on STAR’s corporate website. STAR´s annual integrated report will be published during January 2018, in line with regulatory reporting timeframes. 2. Refinancing of loans granted by Steinhoff Africa Holdings (Pty) Ltd and its subsidiaries (“Steinhoff shareholder loans”) The Steinhoff shareholder loans amounted to c. R16 billion at 30 September 2017 as included in STAR’s financial statements. FirstRand Bank Limited, acting through its Rand Merchant Bank division (“RMB”), has been appointed to facilitate the refinancing of the shareholder loans with ring-fenced funding facilities to STAR (“New Facilities”). The New Facilities will be used to repay Steinhoff shareholder loan funding and provide the STAR group with stand-alone financing facilities. RMB is in the process of engaging certain banks and financial institutions with regards to the New Facilities. Stellenbosch 15 December 2017 Sponsor PSG Capital Date: 15/12/2017 07:05:00 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.