Voluntary Announcement pertaining to the Acquisition of Strategic Vacant Land and an update on student numbers STADIO HOLDINGS LIMITED (Previously Embury Holdings Proprietary Limited) (Incorporated in the Republic of South Africa) Registration number: 2016/371398/06 JSE share code: SDO ISIN: ZAE000248662 (“STADIO” or “the Company”) VOLUNTARY ANNOUNCEMENT PERTAINING TO THE ACQUISITION OF STRATEGIC VACANT LAND IN THE WESTERN CAPE AND AN UPDATE ON CURRENT STUDENT NUMBERS 1. ACQUISITION OF STRATEGIC VACANT LAND IN THE WESTERN CAPE The Board of Directors of STADIO is pleased to advise shareholders that the Company, through its wholly-owned subsidiary Stadio Corporate Services Proprietary Limited (“Purchaser”), has entered into a sale agreement on or about 25 May 2018, in terms of which the Purchaser will acquire vacant land located in Durbanville of approximately 7.8446 hectares (“the Property”), as part of its plans to roll out a new campus (“the Acquisition”). STADIO intends to develop the Property with the aim of opening the doors of its new campus in 2021. It is anticipated that the new campus will accommodate several faculties, including Education, Commerce, Law and the Creative Industries (including, fashion design, advertising, marketing and communication and the film industry), as well as future faculties to be developed and acquired by STADIO. In this regard it is noted that STADIO is actively exploring the feasibility of developing a School of Engineering and a Health, Sciences and Medical School, the establishment of which still requires further engagement with various role-players, including the Council for Higher Education (CHE), the South African Qualifications Authority (SAQA), the Department of Higher Education and Training (DHET) and other professional councils. It is further envisaged that the new campus will accommodate between 4 000 and 5 000 contact learning students over time. STADIO will also embark on the registration of several distance learning programmes to support its vision of widening access to higher education. STADIO intends to fund the Acquisition through existing cash resources and bank funding. The Acquisition is subject to various conditions precedent and is uncategorised in terms of the JSE Listings Requirements. As such, the information contained in this announcement has been voluntarily disclosed by STADIO. 2. UPDATE ON CURRENT STUDENT NUMBERS Shareholders are referred to a previous announcement released on SENS on 26 October 2017, confirming that the acquisition of LISOF Proprietary Limited (“LISOF”) was concluded, effective 1 January 2018, and to an announcement released on 22 March 2018, confirming that the acquisition of MBS Education Investments Proprietary Limited (“Milpark”) was successfully implemented on 19 March 2018. Taking into account the first semester intake of students across the STADIO Group (including the students of LISOF and Milpark), STADIO is pleased to inform shareholders that student numbers are currently approximately 26 500. Considering the second semester intake and further anticipated acquisitions by STADIO, student numbers could reach 30 000 by the end of 2018. Durbanville 4 June 2018 Transaction Advisor and Sponsor PSG Capital Date: 04/06/2018 08:50:00 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.