Voluntary Announcement – News Website Article AfroCentric Investment Corporation Limited (Incorporated in the Republic of South Africa) (Registration number 1988/000570/06) JSE Code: ACT ISIN: ZAE000078416 (“AfroCentric” or “the Company” or “the Group”) VOLUNTARY ANNOUNCEMENT – NEWS WEBSITE ARTICLE Shareholders and investors will have read an article published on a news website on 16 July 2018, wherein it was pondered as to whether AfroCentric had adequately disclosed the contingent extent of an unresolved damages claim launched by NHA against a subsidiary of the Company in 2007. While the Group’s legal advisors have consistently advised the Board that the NHA claim has no merit, the AfroCentric Board has annually disclosed all details of the claim (subject to a confidential arbitration process) to its auditors each year since it was instituted in 2007 and that the Group’s 2017 Annual Financial Statements records as a provision, the maximum loss relating to a component of the claim, in the unlikely event of the claim being awarded in favour of NHA. A hearing on the merits of the claim has yet to take place. AfroCentric remains confident that it enjoys strong prospects of successfully defending the claim and obtaining an award for costs against NHA. The full extent of the claim by NHA was also noted and disclosed as a contingent liability in the 2017 Annual Financial statements, but the probability of the claim materialising after 11 years still appears to be remote. Since the NHA claim was initiated, material transactions have taken place with vendors to and investors in AfroCentric, each conducting comprehensive due diligence exercises, which included consideration of the contingent claim by NHA. Finally it is important to note that in 2008, the shareholders of NHA sold NHA to a company in the Liberty Group and have not denied that NHA is today merely an empty corporate shell. The AfroCentric subsidiary has lodged an application for leave to appeal the judgement refusing security. Johannesburg 20 July 2018 Sponsor Sasfin Capital (a member of the Sasfin group) Date: 20/07/2018 01:40:00 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.