Dealings in securities African Rainbow Capital Investments Limited Incorporated in the Republic of Mauritius Company number: C148430 ISIN: MU0553S00000 Share code: AIL ("ARC Investments") DEALINGS IN SECURITIES The following information relating to dealings in securities of ARC Investments is disclosed: Director : Machiel Reyneke Associate : Reyneke Family Trust (Family Trust) Company : UBI General Partner Proprietary Limited, the general partner of the ARC Fund* Date of transaction : 13 March 2018 Nature of transaction : On market purchase of securities by an associate Number of securities : 162 000 Class of securities : ARC Investments ordinary shares Volume weighted average purchase price : 615.61 cents per share Total value of transaction : R997 282.82 Highest purchase price : 630.00 cents per share Lowest purchase price : 600.00 cents per share Nature of interest : Dealings by an associate Director : Johan van Zyl Associate : Mr AB van Zyl (Son) Company : UBI General Partner Proprietary Limited, the general partner of the ARC Fund* Date of transaction : 13 March 2018 Nature of transaction : On market purchase of securities by an associate Number of securities : 7 950 Class of securities : ARC Investments ordinary shares Purchase price : 628.63 cents per share Total value of transaction : R49 976.09 Nature of interest : Dealings by an associate Director : Johan van Zyl Associate : Mr JF van Zyl (Son) Company : UBI General Partner Proprietary Limited, the general partner of the ARC Fund* Date of transaction : 13 March 2018 Nature of transaction : On market purchase of securities by an associate Number of securities : 4 750 Class of securities : ARC Investments ordinary shares Purchase price : 628.63 cents per share Total value of transaction : R29 859.93 Nature of interest : Dealings by an associate Director : Johan van Zyl Associate : Miss M van Zyl (Daughter) Company : UBI General Partner Proprietary Limited, the general partner of the ARC Fund* Date of transaction : 13 March 2018 Nature of transaction : On market purchase of securities by an associate Number of securities : 6 030 Class of securities : ARC Investments ordinary shares Purchase price : 628.63 cents per share Total value of transaction : R37 906.39 Nature of interest : Dealings by an associate *ARC Investments is a Limited Partner in the ARC Fund, an en-commandite partnership. Full details of the structure were disclosed in the Pre-Listing Statement published on 28 August 2017. Ebene, Mauritius (with simultaneous circulation in Johannesburg) 20 March 2018 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 20/03/2018 05:41:00 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.