Dealing In Securities By Associate Of A Director Wilderness Holdings Limited (Registration number 2004/2986) (Registered as an external company in South Africa Registration number 2009/022894/10) ISIN: BW0000000868 Share code: WIL (“Wilderness” or “the Company”) Dealing In Securities By Associate Of A Director In terms of the Wilderness Holdings Share Scheme 2011 certain share appreciation rights (SARs) were granted to senior management of the Wilderness Holdings Group on 13 June 2011. The SARs are settled in Wilderness Holdings Limited ordinary shares. In compliance with the Botswana Stock Exchange (“BSE”) and Johannesburg Stock Exchange (“JSE”) Listings Requirements shareholders are advised that an associate of a director has acquired the following shares: Name of associate: Kerry Azoulay (associate of Amihai Azoulay) Date of transaction: 31 December 2018 Name of Company: Wilderness Holdings Limited Number of securities: 22 513 Class of securities: Ordinary shares Nature of transaction: Off-market issue and acceptance of shares to settle the rights that have vested in terms of the Wilderness Group Share Plan 2011. Price per share: The shares were issued for no consideration. The deemed issue price of the shares is the closing price on 31 December 2018 of P6.56 on the Botswana Stock Exchange (“BSE”) and R5.50 on the Johannesburg Stock Exchange (“JSE”). Nature of interest: Direct beneficial Extent of interest: 0.00948% Deemed value of transaction: BWP147 685 based on the BSE closing price of BWP6.56 on 31 December 2018 (R123 822 based on the closing price of R5.50 on the JSE). How traded: New Issuance Clearance to deal obtained: No, not required for an associate The Company’s primary listing is on the BSE and its secondary listing is on the JSE. By Order of the Board 7 February 2019 Sponsor Arbor Capital Sponsors Proprietary Limited Date: 07/02/2019 12:00:00 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.