New Detailed Cautionary Announcement and Renewal of Cautionary Announcement VISUAL INTERNATIONAL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2006/030975/06) (“the Company”) ISIN Code: ZAE000187407 Share code: VIS NEW DETAILED CAUTIONARY ANNOUNCEMENT AND RENEWAL OF CAUTIONARY ANNOUNCEMENT NEW DETAILED CAUTIONARY ANNOUNCEMENT Shareholders are advised that Visual has entered into an agreement to unwind the acquisition of 31.2% of Mosegedi ab initio. This will result in the parties being put back into the same position as had they not entered into the agreement. The full details and financial information will be announced as soon as is practicable. This cancellation may have a material effect on the price at which the Company’s securities trade. RENEWAL OF CAUTIONARY ANNOUNCEMENT Shareholders are referred to the new and renewal of cautionary announcement published on 30 January 2018 and are advised that the acquisition negotiations and disposal conditions are still in progress. Accordingly, shareholders are advised to continue to exercise caution when dealing in the securities of the Company until further announcements are made. Cape Town 16 February 2018 Designated Advisor Arbor Capital Sponsors Proprietary Limited Date: 16/02/2018 05:48:00 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.