Update on the Global Credit Rating of the Company TRUSTCO GROUP HOLDINGS LIMITED Incorporated in the Republic of Namibia (Registration number 2003/058) Registered as an external company in South Africa (External registration number 2009/002634/10) NSX share code: TUC JSE share code: TTO ISIN Number: NA000A0RF067 (“Trustco” or “the Company”) Update on the Global Credit Rating of the Company Trustco Shareholders (“Shareholders”) are referred to the SENS announcement dated 31 August 2018 in terms where of the Company published its credit rating for the period 1 September 2018 to 31 August 2019 by the Global Credit Ratings Company (“GCR”). GCR previously published Trustco’s national scale long term rating of BBB+(NA) and its short term rating of A2(NA) to LD (NA). The Company is pleased to announce that after signature of the formal Standstill Agreement signed with the international debt Lenders Group the GCR consequently upgraded the Company’s long term credit rating to CCC(NA) and its short term rating to C(NA) with the outlook as evolving. The Standstill Agreement is effective until 15 June 2019. Restructuring of debt packages will be negotiated with the Lenders Group during the effective period of the Standstill Agreement. GCR will raise the rating post the successful restructuring of the debt. The rating is valid until August 2019 and the announcement is available on Trustco’s website at http://www.tgh.na/investors/global-credit-rating/ 28 December 2018 Amanda Bruyns Company Secretary: Trustco Group Holdings Limited JSE Equity Sponsor Vunani Corporate Finance JSE Debt Sponsor Merchantec Capital NSX Sponsor Simonis Storm Securities Proprietary Limited Date: 28/12/2018 04:20:00 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.