Rand Merchant Investment Holdings Limited Internal Group Restructure MMI Holdings Limited (Incorporated in the Republic of South Africa) Registration number 2000/031756/06) JSE share code: MMI NSX share code: MIM (“MMI Holdings” or “The Company”) MMI GROUP LIMITED (Incorporated in the Republic of South Africa) (Registration No. 1904/002186/06) Company code: MMIG RAND MERCHANT INVESTMENT HOLDINGS LIMITED INTERNAL GROUP RESTRUCTURE Shareholders are referred to the announcement released by Rand Merchant Investment Holdings Limited (“RMI”) on the Stock Exchange News Service, simultaneously with this announcement. In accordance with section 122(3)(b) of the Companies Act, 71 of 2008 (“the Act”) and paragraph 3.83(b) of the JSE Limited Listings Requirements, shareholders are advised as follows: Prior to implementation of its internal group restructure, RMI held a direct 25.45% interest in MMI. Following the internal group restructure on 29 June 2018, RMI’s 25.45% interest in MMI is now held indirectly through its asset holding entity, RMI Asset Holdings Proprietary Limited, a wholly-owned subsidiary of RMI. As required in terms of section 122(3)(a) of the Act, MMI has filed the required notice with the Takeover Regulation Panel. CENTURION 3 July 2018 Sponsor in South Africa Merrill Lynch South Africa (Pty) Limited Sponsor in Namibia Simonis Storm Securities (Pty) Limited Date: 03/07/2018 10:30:00 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.