Closing of the Huso Transaction TRUSTCO GROUP HOLDINGS LIMITED Incorporated in the Republic of Namibia (Registration number 2003/058) Registered as an external company in South Africa (External registration number 2009/002634/10) NSX share code: TUC JSE share code: TTO ISIN Number: NA000A0RF067 (“Trustco” or “the Company”) CLOSING OF THE HUSO TRANSACTION 1. Introduction Trustco shareholders (“Shareholders”) are referred to the announcement and definitions therein published on the Stock Exchange News Service (“SENS”) on 24 July 2018 relating to the Huso Transaction. Shareholders were advised that the Huso Transaction was still subject to the fulfilment of certain conditions (“Conditions Precedent”). The fulfilment of the Conditions Precedent would be regarded as the closing date for the Huso Transaction (i.e the date on which the Huso Transaction becomes effective). The only outstanding Condition Precedent was the issuing of a mining license to NNDC by the Ministry of Mines and Energy (“MME”), in terms of the Minerals Act No 33 of 1992 (“Minerals Act”). NNDC received a notice of preparedness to grant application for mining license for a period of 15 (fifteen) years in terms of the Minerals Act from MME on 20 July 2018 (“the Notice”) which notice was subject to acceptance of the terms and conditions by NNDC. NNDC subsequently accepted the Notice. 2. Closure of the Huso Transaction Trustco is pleased to announce receipt of a mining license issued in terms of the Minerals Act to NNDC by MME on 4 September 2018. The mining license is valid for a 15 (fifteen) year period from 31 July 2018 to 30 July 2033. The Huso Transaction, as amended, has now become effective and unconditional and as such the Huso Transaction has closed. Windhoek, Namibia 4 September 2018 Amanda Bruyns Company Secretary: Trustco Group Holdings Limited JSE Sponsor Vunani Corporate Finance NSX Sponsor Simonis Storm Securities Proprietary Limited Date: 04/09/2018 04:10:00 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.