Dealings in securities by directors and the company secretary Remgro Limited (Incorporated in the Republic of South Africa) (Registration number 1968/006415/06) (ISIN: ZAE000026480) (Share code: REM) ("Remgro") DEALINGS IN SECURITIES BY DIRECTORS AND THE COMPANY SECRETARY As set out below, shares under the Conditional Share Plan (“CSP Shares”) and rights to ordinary shares under the Share Appreciation Rights Plan (“SARs”) were granted to executive directors and to the company secretary of Remgro on 5 December 2018 at a grant price of R205.0742 per ordinary share, representing the 5-day volume weighted average price of an ordinary share up to 4 December 2018. The off- market acceptance of the CSP Shares and SARs by executive directors and the company secretary occurred on 28 December 2018. NUMBER OF NUMBER OF DEEMED VALUE PERFORMANCE PERFORMANCE OF NATURE OF DIRECTOR CSP SHARES SARs TRANSACTIONS INTEREST Direct Mr JJ Durand 87 135 87 135 R35 738 280.83 beneficial Direct Mrs M Lubbe 14 648 14 648 R6 007 853.76 beneficial Direct Mr NJ Williams 28 465 28 465 R11 674 874.21 Beneficial COMPANY NUMBER DEEMED VALUE NATURE OF SECRETARY OF RETENTION CSP SHARES OF TRANSACTION INTEREST Direct Ms DI Heynes 907 R186 002.30 beneficial The purpose of the CSP Shares and/or SARs is to incentivise, motivate and retain the appropriate caliber of employees by awarding employees with shares as remuneration and the opportunity to share in the success of Remgro through the award of Performance CSP Shares and/or Performance SARs and/or Retention CSP Shares. The vesting of the shares will be subject to the satisfaction of the Performance Conditions, the Employment Condition and the Remaining Conditions (if any) set by the Remuneration and Nomination Committee. The Performance Conditions comprise financial measures which include Growth in Intrinsic Net Asset Value (INAV) and Growth in Free Cash flow at the Centre as well as Non-financial Individual Performance Conditions (“Vesting Conditions”). On condition and to the extent that Vesting Conditions have been met, the CSP Shares and/or SARs will vest as follows: - up to one third on or after the third anniversary of the date of grant, being 5 December 2021; - up to two thirds on or after the fourth anniversary of the date of grant, being 5 December 2022; - all of the remaining CSP Shares and/or SARs will vest on or after the fifth anniversary of the date of grant, being 5 December 2023; - all SARs (where applicable) must be exercised by the seventh anniversary of the date of grant, being 5 December 2025; - for vesting of the CSP Shares, dividend equivalents will be converted to additional shares. Approval for the individual allocations has been given, and all transactions occurred off-market. Stellenbosch 28 December 2018 Sponsor RAND MERCHANT BANK (a division of FirstRand Bank Limited) Date: 28/12/2018 01:52:00 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.