Conclusion of Group Five's disposal of its joint venture interest in Group Five Pipe Group Five Limited (Incorporated in the Republic of South Africa) (Registration number: 1969/000032/06) Share code: GRF ISIN: ZAE000027405 ("Group Five” or “the Company”) CONCLUSION OF GROUP FIVE’S DISPOSAL OF ITS JOINT VENTURE INTEREST IN GROUP FIVE PIPE Further to the announcement released on SENS on 22 November 2017, the Board of Group Five is pleased to announce that all conditions precedent relating to the disposal of its 50% share in its steel pipe business, Group Five Pipe, have been fulfilled. The total cash consideration of R80 million has been received by the Group, which will be retained in Group Five Construction and applied to its activities, as required. Group Five Pipe manufactures large bore spiral-welded steel pipes, mainly for water transport systems. The purchaser, LB Pipes Proprietary Limited is 51% owned by a black industrialist Mr Kuseni Dlamini, 26% by Marine Civil Proprietary Limited and 23% by the Industrial Development Corporation (“IDC”). The disposal into a predominantly black-owned company retains the engineering skills of Marine Civils alongside the financial backing of the IDC. The disposal was concluded at fair value as a going concern. Johannesburg 14 May 2018 Transaction Sponsor THE STANDARD BANK OF SOUTH AFRICA LIMITED Legal Advisor WERKSMANS ATTORNEYS Sponsor NEDBANK CORPORATE AND INVESTMENT BANKING Date: 14/05/2018 04:45:00 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.