Changes To The Board Of Directors Of The Company GRAND PARADE INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1997/003548/06) Share code: GPL ISIN: 000119814 (“GPI” or “the Company”) CHANGES TO THE BOARD OF DIRECTORS OF THE COMPANY Shareholders are referred to the results announcement published on SENS today, 6 December 2018, detailing the results of the votes exercised at the adjourned general meeting of the Company held on 5 December 2018 (“GM”). The board of directors of the Company (“Board”), in accordance with paragraph 3.59 of the JSE Limited Listings Requirements, wishes to confirm that Mr RA Hargey (“Mr Hargey”) and Ms N Mlambo (“Ms Mlambo”) have been removed as non-executive directors of the Company at the GM, with effect from 5 December 2018. In addition to the above, the Board wishes to confirm that Mr M Bowman (“Mr Bowman”) and Ms R van Dijk (“Ms Van Dijk”) have been appointed as non-executive directors of the Company with effect from 5 December 2018. The Board would like to thank Mr Hargey and Ms Mlambo for their valuable contribution to the Company and wishes each of them well in their future endeavours. The Board welcomes Mr Bowman and Ms Van Dijk and look forward to their contribution to the Company. Cape Town 6 December 2018 Sponsor PSG Capital Date: 06/12/2018 05:10:00 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.