General Repurchase of Shares Announcement Indequity Group Limited Incorporated in the Republic of South Africa Registration number 1998/015883/06 Share code: IDQ ISIN Code ZAE000016606 (“Indequity” or “the Company”) GENERAL REPURCHASE OF SHARES ANNOUNCEMENT 1. INTRODUCTION The board of directors of Indequity (“the Board”) hereby advises shareholders that Indequity Specialised Insurance (“ISI”) has cumulatively repurchased 802 752 ordinary shares in aggregate, representing 6.13% of the Company’s issued share capital in terms of the general authority granted by shareholders at the annual general meeting (“AGM”) held on 07 December 2016 (“Repurchases”). 2. DETAILS OF THE GENERAL REPURCHASE Details of the Repurchases are as follows: Dates of Repurchases: 29 November 2017 to 06 February 2018 Number of shares repurchased: 245 770 Lowest repurchase price per share (cents): 700 Highest repurchase price per share (cents): 800 Total value of shares repurchased: R1 932 999.50 The repurchases were effected through the order book operated by the JSE Limited and done without any prior understanding or arrangement between the Company and the counter parties. Indequity holds 802 752 shares as treasury shares, representing 6.13% of the Company’s issued share capital. The repurchase of shares increased the number of treasury shares by 245 770. Following the repurchase, the extent of the general authority to repurchase shares outstanding is 1 818 374 ordinary shares, representing 13.87% of the total issued share capital of Indequity, at the time the authority was granted. 3. OPINION OF THE BOARD The Board has considered the effect of the Repurchase and is of the opinion that, for a period of 12 months following the date of this announcement: - The Company and the group will be able, in the ordinary course of business, to pay its debts; - The assets of the Company and the group will be in excess of the liabilities of the company and the group. For this purpose, the assets and liabilities were recognised and measured in accordance with the accounting policies used in the latest audited annual group financial statements; - The share capital and reserves of the Company and the group will be adequate for ordinary business purposes; and - The Company and the group have passed the solvency and liquidity test and since the test was performed, there have been no material changes to the financial position of the group. 4. SOURCE OF FUNDS The repurchase was funded from the Company’s available cash resources. 5. FINANCIAL INFORMATION Cash decreased by R1 945 180.72 as a result of the Repurchase. The impact on other areas of the Company’s financial information is deemed to be negligent. Treasury shares were purchased with excess cash generated throughout the year. The company still holds sufficient cash resources to service day-to-day operational needs as well as to comply with all regulatory requirements. 6. COMPLIANCE WITH PARAGRAPH 5.72(h) OF THE LISTING REQUIREMENTS No repurchases were undertaken during a prohibited period. 07 February 2018 Sponsor on the JSE KPMG Services (Proprietary) Limited Date: 07/02/2018 05:15:00 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.