Reliance on Market Notice and update relating to the impact of the COVID-19 pandemic BELL EQUIPMENT LIMITED (Incorporated in the Republic of South Africa) Registration number 1968/013656/06 ISIN: ZAE000028304 Share Code: BEL (“the Company”) RELIANCE ON MARKET NOTICE AND UPDATE RELATING TO THE IMPACT OF THE COVID-19 PANDEMIC Further to the SENS announcement released by the Company on 1 April 2020 notifying shareholders of the extension granted to the Company by the JSE to 30 April 2020 in order for the Company to finalise its year-end financial results for the year ended 31 December 2019, shareholders are referred to the JSE announcement published on SENS on 3 April 2020 advising the market that the outbreak of the COVID-19 pandemic and subsequent national lockdown in South Africa has caused business continuity challenges and significant financial reporting challenges for issuers. The JSE also advised that the Financial Sector Conduct Authority (‘FSCA’) had considered a request made by the JSE to extend certain financial reporting deadlines. On 3 April 2020, the FSCA issued a market notice announcing that issuers with year-ends of 31 December 2019, 31 January 2020, 29 February 2020 and 31 March 2020 will receive temporary relief of two months within which to complete their year-end financial reporting process (‘Market Notice’) should this be required by the issuers. Shareholders are advised that the Company will be placing reliance on the Market Notice and will be utilising the two month extension in order to finalise the year-end financial results. Accordingly, the Company now expects to release its 2019 results before 31 May 2020. Bell Equipment supports the South African government’s structured and gradual phasing out of the country’s lockdown. There is still widespread uncertainty associated with the COVID- 19 pandemic and the group is closely monitoring the situation and adapting the business to mitigate some of the impact as the situation develops. The safety and well-being of the group’s employees is paramount and will remain the group’s first priority. In this regard measures were implemented by the group prior to the South African lockdown to prevent and minimise potential infections and transmissions of the virus within its operations globally. The group’s employees received and continue to receive ongoing education and communication on the COVID-19 pandemic and the appropriate preventative measures to be taken. Significant short-term decisions have been taken by the group including the undesirable but unavoidable step of implementing 20% short time across the global operations, starting in May 2020 for an initial three-month period; the group executive committee has committed to a 25% salary reduction for the corresponding period and the non-executive directors of the Bell Equipment Limited board have committed to a 30% reduction in their meeting fees for a six month period. In addition to these measures, action has been taken to delay capex, halt any non- essential expenses and restructure supplier payments where possible. Further information in this regard will be provided in the audited annual financial statements. The group continues to engage with its employees, financiers, suppliers, customers and other stakeholders, including Government and the board would like to wish all its stakeholders safety during this uncertain time. The group looks forward to improved business when the countries it operates in rebound from the COVID-19 pandemic. Richards Bay 29 April 2020 Sponsor: INVESTEC BANK LIMITED Date: 29-04-2020 12:40:00 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.