Underlying investment realisation by Brait SE EPE CAPITAL PARTNERS LTD (Incorporated in the Republic of Mauritius) (Registration number: C138883 C1/GBL) ISIN: MU0522S00005 Share Code: EPE ("Ethos Capital" or "the Company") UNDERLYING INVESTMENT REALISATION BY BRAIT SE Ethos Capital is an investment holding company, registered and incorporated in Mauritius. It is listed on the Johannesburg Stock Exchange and offers shareholders long-term capital appreciation by making commitments and investments into Funds or co-investments that are actively managed by Ethos Private Equity (Pty) Limited ("Ethos"), providing the Company with exposure to a diversified portfolio of unlisted private equity type investments ("Portfolio Companies"). Realisation of Iceland Foods by Brait SE Brait SE ("Brait") today announced the disposal of its 63% stake in Iceland Topco Limited ("Iceland Foods") to a newly established company, wholly owned by the founder and executive chairman and chief executive officer of Iceland Foods. This disposal, as well as the sale of DGB that was announced in May 2020, is in line with the new strategy announced by the Brait Board on 27 November 2019, that Brait would focus on maximising value through the realisation of the existing assets in its portfolio over the next five years. The sale (including deferred consideration) will realise c. R2.4 billion in Brait proceeds which will significantly reduce its debt facility. The announcement notes the Brait indicative carrying value of Iceland Foods at 31 March 2020 at R1,391 million, with the transaction value of the sale representing an 83% uplift over the above carrying value. Further details can be found at: https://brait.investoreports.com/wp-content/uploads/2020/06/Brait-SE-Market-Announcement-NAV- update-and-transaction-announcement-2020-06-08.pdf The financial information on which this announcement is based, has not been audited, reviewed and reported on by the Company’s external auditors. Ebene, Mauritius (with simultaneous circulation in Johannesburg) 08 June 2020 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 08-06-2020 03:52:00 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.