Feedback On Engagement With Shareholders GRAND PARADE INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration Number 1997/003548/06) Share code: GPL ISIN: ZAE000119814 (“GPI” or “the Company”) FEEDBACK ON ENGAGEMENT WITH SHAREHOLDERS Further to the announcement released on SENS on 12 June 2020 relating to GPI’s invitation to shareholders to engage with the Company on the remuneration policy and the implementation of the remuneration policy, shareholders are advised that the video conference (“Video Conference”) took place today, 2 July 2020. Details thereof are as follows: 1. Of the 49.66% who voted against the policy and the 48.61% who voted against the implementation of the policy, 6 parties, representing 25.05% shareholding in GPI, participated in the Video Conference (“Participating Shareholders”). 2. The Participating Shareholders raised concerns regarding historical short-term and long- term incentives paid to executives as well as the targets and weighting of KPI’s for executive management given the change in the businesses strategy going forward. 3. The remuneration and nomination committee of GPI ("Committee") advised that it remains committed to ensuring that the current management team is being fairly paid and properly incentivised to achieve the business strategy however the final details of the executive remuneration structure will be firmed up over the next few months in light of the current challenges facing the business as a result of the Covid-19 pandemic. Cape Town 3 July 2020 Sponsor PSG Capital Date: 03-07-2020 10:00:00 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.