Exercise of share appreciation rights and conditional share awards Transaction Capital Limited (Incorporated in the Republic of South Africa) Registration number: 2002/031730/06 JSE share code: TCP ISIN: ZAE000167391 ("Transaction Capital" or "the company") TransCapital Investments Limited (Incorporated in the Republic of South Africa) Registration No. 2016/130129/06 Bond Company code: TCII EXERCISE OF SHARE APPRECIATION RIGHTS AND CONDITIONAL SHARE AWARDS IN TERMS OF THE TRANSACTION CAPITAL SHARE APPRECIATION RIGHTS AND CONDITIONAL SHARE PLANS In compliance with paragraphs 3.63 to 3.65 of the JSE Limited Listings Requirements, notification is hereby given that the following directors and company secretary of the company and directors of major subsidiaries of the company have exercised share appreciation rights ("SARs") and conditional share plan awards ("CSPs") in terms of the Transaction Capital Share Appreciation Rights Plan and the Transaction Capital Conditional Share Plan. Share appreciation rights Name of director David McAlpin Name of company Transaction Capital Risk Services Holdings Proprietary Limited Date transaction was effected 27 November 2018 Class of security SARs in respect of ordinary shares Share Price R18.51 Number of shares to be delivered 446 384 Total Value R8 262 568 Nature of transaction Off market exercise of SARs Nature of interest Direct beneficial Clearance obtained Yes Name of director Carl de Villiers Name of company Transaction Capital Recoveries Proprietary Limited and MBD Legal Collections Proprietary Limited Date transaction was effected 27 November 2018 Class of security SARs in respect of ordinary shares Share Price R18.51 Number of shares to be delivered 29 693 Total Value R549 617 Nature of transaction Off market exercise of SARs Nature of interest Direct beneficial Clearance obtained Yes Name of director Riek Olivier Name of company SA Taxi Finance Holdings Proprietary Limited Date transaction was effected 28 November 2018 Class of security SARs in respect of ordinary shares Share Price R18.02 Number of shares to be delivered 89 148 Total Value R1 606 447 Nature of transaction Off market exercise of SARs Nature of interest Direct beneficial Clearance obtained Yes Name of director Ronen Goldstein Name of company Transaction Capital Limited Date transaction was effected 28 November 2018 Class of security SARs in respect of ordinary shares Share Price R18.02 Number of shares to be delivered 59 432 Total Value R1 070 965 Nature of transaction Off market exercise of SARs Nature of interest Direct beneficial Clearance obtained Yes Conditional shares Name of director David Hurwitz Name of company Transaction Capital Limited Date transaction was effected 28 November 2018 Class of security CSPs in respect of ordinary shares Share Price R18.02 Number of shares to be delivered 30 758 Total Value R554 259 Nature of transaction Off market exercise of CSPs Nature of interest Direct beneficial Clearance obtained Yes Name of director Ronen Goldstein Name of company Transaction Capital Limited Date transaction was effected 28 November 2018 Class of security CSPs in respect of ordinary shares Share Price R18.02 Number of shares to be delivered 23 249 Total Value R418 947 Nature of transaction Off market exercise of CSPs Nature of interest Direct beneficial Clearance obtained Yes Name of company secretary Theresa Palos Name of company Transaction Capital Limited Date transaction was effected 28 November 2018 Class of security CSPs in respect of ordinary shares Share Price R18.02 Number of shares to be delivered 3 381 Total Value R60 926 Nature of transaction Off market exercise of CSPs Nature of interest Direct beneficial Clearance obtained Yes Name of director Mark Herskovits Name of company Transaction Capital Limited and SA Taxi Finance Holdings Proprietary Limited Date transaction was effected 28 November 2018 Class of security CSPs in respect of ordinary shares Share Price R18.02 Number of shares to be delivered 22 647 Total Value R408 099 Nature of transaction Off market exercise of CSPs Nature of interest Direct beneficial Clearance obtained Yes Name of director Lorenzo Cardoso Name of company SA Taxi Finance Holdings Proprietary Limited Date transaction was effected 28 November 2018 Class of security CSPs in respect of ordinary shares Share Price R18.02 Number of shares to be delivered 35 651 Total Value R642 431 Nature of transaction Off market exercise of CSPs Nature of interest Direct beneficial Clearance obtained Yes Name of director Riek Olivier Name of company SA Taxi Finance Holdings Proprietary Limited Date transaction was effected 28 November 2018 Class of security CSPs in respect of ordinary shares Share Price R18.02 Number of shares to be delivered 8 870 Total Value R159 837 Nature of transaction Off market exercise of CSPs Nature of interest Direct beneficial Clearance obtained Yes Name of director David McAlpin Name of company Transaction Capital Risk Services Holdings Proprietary Limited Date transaction was effected 28 November 2018 Class of security CSPs in respect of ordinary shares Share Price R18.02 Number of shares to be delivered 25 376 Total Value R457 276 Nature of transaction Off market exercise of CSPs Nature of interest Direct beneficial Clearance obtained Yes Name of director Carl de Villiers Name of company Transaction Capital Recoveries Proprietary Limited and MBD Legal Collections Proprietary Limited Date transaction was effected 28 November 2018 Class of security CSPs in respect of ordinary shares Share Price R18.02 Number of shares to be delivered 16 653 Total Value R300 087 Nature of transaction Off market exercise of CSPs Nature of interest Direct beneficial Clearance obtained Yes Dunkeld West 30 November 2018 Enquiries: Phillipe Welthagen - Investor Relations Telephone: +27 (0) 11 049 6700 Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 30/11/2018 12:13:00 Produced by the JSE SENS Department. 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