Changes to the board of directors Tiso Blackstar Group SE (Incorporated in England and Wales) (Company number SE 110) (registered as an external company with limited liability in the Republic of South Africa under registration number 2011/008274/10) Share code: TBG ISIN: GB00BF37LF46 (“Tiso Blackstar” or the “Company”) CHANGES TO THE BOARD OF DIRECTORS In compliance with paragraph 3.59 of the JSE Limited Listings Requirements, Tiso Blackstar shareholders are advised that Mr Marcel Ernzer has resigned as an independent non-executive director and chairman of the audit committee of Tiso Blackstar, with immediate effect. Following Mr Ernzer’s resignation, Mr John Mills, lead independent director and member of the audit committee of the Company, assumes the role of chairman of the audit committee of the Company, with immediate effect. The board of directors of Tiso Blackstar (the “Board”) will commence a process to identify and nominate an additional independent non-executive director who will bring the required experience, insight and professional skills to the Board to ensure effective leadership of the Company. The Board would like to thank Mr Ernzer for his valuable service and contribution to the Company during his tenure. London 28 November 2018 For further information, please contact: Tiso Blackstar Group SE Leanna Isaac +44(0) 20 7887 6017 JSE Sponsor: One Capital Taryn Carter +27(0) 11 550 5000 Date: 28/11/2018 05:00:00 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.