Distribution of Circular and Notice of General Meeting EFFICIENT GROUP LIMITED Incorporated in the Republic of South Africa (Registration number 2006/036947/06) Share code: EFG ISIN: ZAE000151841 (“Efficient” or “the Company”) DISTRIBUTION OF CIRCULAR AND NOTICE OF GENERAL MEETING 1. DISTRIBUTION OF CIRCULAR Efficient shareholders (“Shareholders”) are referred to the “Specific Issue of Shares and Withdrawal of Cautionary Announcement” released on SENS on 29 July 2019 (“Terms Announcement”). Using the terms defined therein unless otherwise stated, Shareholders are hereby advised that the circular containing, inter alia, full details of the Specific Issue (“Circular”) has been distributed today, Tuesday, 27 August 2019. The Circular is available on the Company’s website at https://www.efgroup.co.za/investor-relations/reports. 2. NOTICE OF GENERAL MEETING Notice is hereby given that the general meeting of Shareholders (“General Meeting”) will be held at 10:00 on Wednesday, 25 September 2019 at the registered office of Efficient, 81 Dely Road, Hazelwood, Pretoria, 0081, to consider, and if deemed fit, to pass, with or without modification, the business stated in the notice of General Meeting, which is contained in the Circular. The board of directors of Efficient (“Board”) has determined that, in terms of section 62(3)(a), as read with section 59 of the Companies Act, 2008 (Act 71 of 2008), as amended, (“Companies Act”) the record date for the purposes of determining which Shareholders are entitled to participate in and vote at the General Meeting is Friday, 13 September 2019. Accordingly, the last day to trade Efficient shares (“Shares”) in order to be recorded in the Company’s securities register to be entitled to vote will be Tuesday, 10 September 2019. Pretoria 27 August 2019 Sponsor to Efficient Merchantec Capital Corporate Advisor to Efficient Bravura Capital Legal Advisors to Efficient Adams & Adams Date: 27/08/2019 05:11:00 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.