General repurchase of shares and cancellation of shares SABVEST LIMITED (Incorporated in the Republic of South Africa) Registration number 1987/003753/06 Ordinary share code: SBV and ISIN: ZAE000006417 N ordinary share code: SVN and ISIN: ZAE000012043 ("Sabvest" or "the Company") GENERAL REPURCHASE OF SHARES AND CANCELLATION OF SHARES Shareholders are advised that Sabvest has directly purchased 200 000 N shares through the market under its general repurchase authority and these shares have accordingly been cancelled. The details are as follows: Dates of Repurchase 6 December 2019 Total number of shares repurchased 163 374 N shares Total value of shares repurchased R5 352 622 (before costs) Average purchase price 3276.30 cents Highest price paid per share repurchased 3400 cents Lowest price paid per share repurchased 3200 cents Dates of Repurchase 9 December 2019 Total number of shares repurchased 36 626 N shares Total value of shares repurchased R1 264 098 (before costs) Average purchase price 3451.37 cents Highest price paid per share repurchased 3 500 cents Lowest price paid per share repurchased 3 400 cents These transactions result in a total of 550 000 N shares having been repurchased and cancelled in 2019. Shareholders are referred to the dual share simplification announcement released on SENS on 28 October 2019. If the scheme is approved by shareholders, the number of extra shares to be issued in the implementation thereof is 508 030 shares. The Board has effected the repurchases and cancellations referred to herein in a number that exceeds this small expected dilution. Sandton 10 December 2019 Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited) Date: 10-12-2019 03:49:00 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.