Dealing in securities by an associate of a Director CALGRO M3 HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration Number 2005/027663/06) Share code: CGR ISIN: ZAE000109203 (“Calgro M3” or “the company” or “the Group”) DEALING IN SECURITIES BY AN ASSOCIATE OF A DIRECTOR In accordance with the requirements of paragraph 3.63 to 3.74 of the JSE Limited Listings Requirements (“Listings Requirements”), the following dealing in securities by a director should be noted: Name of director : Ben Pierre Malherbe Name of Associate : BPM Family Trust Director’s relationship : Mr Malherbe is a trustee of the with Associate BPM Family Trust Name of company of which he : Calgro M3 Holdings Limited is a director Status : Non-Executive Director Class of securities : Ordinary shares Nature of transactions : An on-market sale of shares by the BPM Family Trust Nature of interests : Indirect beneficial Date of transaction : 22 May 2019 No of shares : 167 000 Volume Weighted average transaction price : R5.6868 per share (Highest trading price R6.00 and lowest trading price R5.50). Total value of transaction : R 949 695.60 Date of transaction : 23 May 2019 No of shares : 59 438 Transaction price : R5.8078 per share Total value of transaction : R 345 204.02 Clearance to trade has been obtained in terms of section 3.66 of the Listings Requirements. Johannesburg 24 May 2019 Sponsor Grindrod Bank Limited Date: 24/05/2019 03:00:00 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.