Small Related Party Transaction Update TRUSTCO GROUP HOLDINGS LIMITED Incorporated in the Republic of Namibia (Registration number 2003/058) Registered as an external company in South Africa (External registration number 2009/002634/10) NSX share code: TUC JSE share code: TTO OTCQX share code: TSCHY ISIN Number: NA000A0RF067 (“Trustco” or “the Company”) SMALL RELATED PARTY TRANSACTION - UPDATE REGARDING THE PROPOSED ACQUISITION OF THE BANKING AND FINANCE SEGMENT BY INSURANCE AND ITS INVESTMENTS SEGMENT. Trustco Shareholders (“Shareholders”) are referred to the SENS announcement released on 28 October 2019 (“previous SENS”) regarding its intention to dispose of all businesses held in its Banking and Finance Segment to its Insurance and its Investment Segment (“Restructuring Transaction”). It was mentioned in the previous SENS that the Restructuring Transaction agreements (“Agreements”) are subject to certain condition precedents, one being the obtaining of all regulatory approvals, specifically from the Bank of Namibia, which are necessary for the implementation of the Agreements. Shareholders are advised that the Company has not yet received the required approval for the Restructuring Transaction from Bank of Namibia yet and therefore has not yet appointed an Independent Expert for the fairness opinion required by the JSE for small related party transactions. Subsequent to receiving the approval from the Bank of Namibia, Trustco will appoint an Independent Expert and a further announcement will be made once the requisite opinion for the Independent Expert is available in accordance with paragraph 10.7(c) of the JSE Listings Requirements. Windhoek, Namibia 24 February 2020 Heleen Steyn Acting Company Secretary: Trustco Group Holdings Limited JSE Sponsor Vunani Sponsors - Johannesburg NSX Sponsor Simonis Storm Securities Proprietary Limited – Namibia OTCQX Sponsor J. P Galda – New York Date: 24-02-2020 09:30:00 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.