Declaration Of Special Dividend HOSKEN PASSENGER LOGISTICS AND RAIL LIMITED (Previously Niveus Invest 17 Proprietary Limited) (Incorporated in the Republic of South Africa) Registration number: 2015/250356/06 JSE share code: HPR ISIN: ZAE000255907 (“HPLR” or the “Company”) DECLARATION OF SPECIAL DIVIDEND Shareholders are referred to the Company’s SENS announcement on 21 December 2018 regarding the disposal of the Company’s rights to receive payment of an amount owing to it by Warshay Investments Proprietary Limited and an accompanying unconditional guarantee issued by Investec Bank Limited, for a disposal consideration of R 240 248 107 (“Disposal Consideration”). The announcement indicated that the Company intends to utilise the Disposal Consideration mainly to declare a special dividend to HPLR shareholders. Accordingly, notice is hereby given that the directors of HPLR have approved and declared a special dividend of 80 cents (gross) per HPLR share from distributable reserves. From an exchange control and JSE perspective this dividend constitutes a “special dividend”. SARB approval has been obtained for the declaration of the special dividend. The salient dates for the payment of the dividend are as follows: Announcement date Tuesday, 29 January 2019 Last day to trade cum dividend Tuesday, 12 February 2019 Trading ex-dividend commences Wednesday, 13 February 2019 Record date Friday, 15 February 2019 Payment date Monday, 18 February 2019 Share certificates may not be dematerialised or rematerialised between Wednesday, 13 February 2019 and, Friday, 15 February 2019, both days inclusive. In terms of legislation applicable to Dividends Tax (“DT”) the following additional information is disclosed: • The special dividend shall constitute a “dividend” as defined in the Income Tax Act, 58 of 1962. • The local DT rate is 20%. • The DT amounts to 16 cents per share, calculated at the local DT rate. • The net local dividend amount is 64 cents per share for all shareholders who are not exempt from the DT. • The number of ordinary shares in issue at the date of the declaration is 290 000 000. • HPLR’s income tax reference number is 9754/276/16/1. In terms of DT legislation, any DT amount due will be withheld and paid over to the South African Revenue Service by a nominee company, stockbroker or Central Securities Depository Participant (collectively “regulated intermediary”) on behalf of shareholders. All shareholders should declare their status to their regulated intermediary as they may qualify for a reduced DT rate or exemption. Cape Town 29 January 2019 Sponsor and corporate adviser PSG Capital Date: 29/01/2019 10:00:00 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.