Dealings in securities by associates of a director Invicta Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 1966/002182/06) Ordinary Share code: IVT Ordinary Share ISIN ZAE000029773 Preference Share code: IVTP Preference Share ISIN: ZAE000173399 ("Invicta" or “the Company”) Dealings in securities by associates of a director In compliance with rule 3.63 to 3.74 of the JSE Listings Requirements, shareholders are advised of the following transaction by associates of an Invicta director: Name of director: Arnold Goldstone (Chief Executive Officer) Name of associate (Transferor): Trostin (Pty) Ltd Relationship to director (Transferor): Mr Goldstone is a director of the associate and a beneficiary of the trust that owns the associate Name of associate (Transferee): The A and A Family Trust Relationship to director (Transferee): Mr Goldstone is a trustee and beneficiary of the associate Date of transaction: 6 March 2019 Nature of transaction: Off-market transfer of Zero Cost Collars entered in respect of 795 328 Invicta ordinary shares Nature of interest: Indirect beneficial Trade: Off-market The aforementioned Zero Cost Collars entered into by the director as announced on SENS on 27 July 2018 have been transferred to The A and A Family Trust, an associate of the director, in which the director is a trustee and beneficiary. All the terms of the Zero Cost Collars remain unchanged. Clearance for the trade by the director was provided in terms of section 3.66 of the JSE Listings Requirements. Cape Town 12 March 2019 Sponsor Deloitte & Touche Sponsor Services (Pty) Ltd Date: 12/03/2019 03:04:00 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.