Results of Scheme Meeting MASTER PLASTICS LIMITED Incorporated in the Republic of South Africa (Registration number 2016/323930/06) Share code: MAP ISIN: ZAE000242921 ("Master Plastics") RESULTS OF SCHEME MEETING 1. INTRODUCTION Unless otherwise indicated, capitalised words and terms contained in this announcement shall bear the same meanings ascribed thereto in the Circular, dated Wednesday, 21 November 2018 ("Circular"). Shareholders are referred to: 1.1 the joint announcement of a firm intention by MCGF II Partnership and MCGF II Investments to make an offer to acquire all the Shares of Master Plastics (other than certain excluded Shares), dated 7 November 2018; 1.2 the announcement by Master Plastics regarding posting of the Circular and the Notice convening the Scheme Meeting, dated 21 November 2018; 1.3 the Circular; and 1.4 the joint announcement regarding an increase in the offer consideration payable under the Scheme and the revised terms of the offer by MCGF II Partnership and MCGF II Investments to acquire all the issued ordinary Shares of Master Plastics (other than certain excluded Shares), dated 30 November 2018 ("Revised Offer Announcement"). The Board is pleased to announce that, pursuant to the Scheme Meeting held on 20 December 2018, all the resolutions as set out in the Notice convening the Scheme Meeting (as amended pursuant to the Revised Offer Announcement), were passed by the requisite majority of Shareholders entitled to vote, as detailed below. 2. RESULTS OF SCHEME MEETING The number of Shares voted in person or by proxy was 94 905 438, representing 81% of all the issued Shares. The resolutions proposed at the Scheme Meeting, together with the percentage of Shares abstained, as well as the percentage of votes carried for and against each resolution, are set out below: % of votes % of votes % of carried for the against the Shares Resolution resolution resolution abstained Special Resolution Number 1: Approval of the Scheme in accordance with the requirements of 100.00% 0.00% 0.00% sections 114 and 115 of the Companies Act 1 Special Resolution Number 2: Revocation of Special Resolution Number 1 if the Scheme is 100.00% 0.00% 0.02% terminated Ordinary Resolution Number 1: Authority granted to directors to take all actions necessary to implement the Scheme Resolution: Approval of the 100.00% 0.00% 0.00% Scheme in accordance with the requirements of sections 114 and 115 of the Companies Act 1 The chairman of the Scheme Meeting noted a clarification in respect of Special Resolution Number 1 in that the reference to the Scheme Consideration in Special Resolution Number 1 (and the Circular) should be construed as a reference to the Increased Scheme Consideration (as defined in the Revised Offer Announcement). 3. REMAINING SCHEME CONDITION Shareholders are further advised that the Scheme remains subject to inter alia the fulfilment of one outstanding Scheme Condition, namely the issue by the Takeover Regulation Panel of a compliance certificate contemplated in section 121(b)(i) of the Companies Act. Master Plastics did not receive any notices from its Shareholders in terms of section 164 of the Companies Act, objecting to the Scheme. Master Plastics has received the consent of Nedbank Limited to the Scheme under the Company's debt funding arrangements as well as approval from the Competition Authorities in terms of the Competition Act. Once the last remaining Scheme Condition has been fulfilled, a further announcement regarding the relevant dates for the implementation of the Scheme will be made. Johannesburg 20 December 2018 Corporate Advisor and Transaction Sponsor to Master Plastics Merchantec Capital Legal Advisor to Master Plastics Webber Wentzel Financial and Corporate Advisor to the Offerors The Standard Bank of South Africa Limited Legal Advisor to the Offerors Cliffe Dekker Hofmeyr Inc. Independent Expert Nodus Capital TS Proprietary Limited Date: 20/12/2018 02:10:00 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.