Cautionary Announcement ASTORIA INVESTMENTS LTD (Incorporated in the Republic of Mauritius) Registration number 1297585 C1/GBL SEM share code: ATIL.N0000 JSE share code: ARA ISIN: MU0499N00007 (“Astoria”) CAUTIONARY ANNOUNCEMENT Astoria Shareholders are referred to the results announcement of RECM & Calibre Limited (“RAC”) for the financial year ended 31 March 2020, published on SENS on 30 July 2020. The announcement refers to the fact that Astoria is in discussions with RAC with the intention of acquiring a number of assets from RAC. These discussions are still in progress and, if successfully concluded, may have a material effect on the price of Astoria Shares. Astoria Shareholders are advised to exercise caution when dealing in their Astoria Shares until a further announcement is made. Astoria has primary listings on the Stock Exchange of Mauritius and the Alternative Exchange of the JSE. This announcement is issued pursuant to SEM Listing Rules 11.3 and Rule 5(1) of the Securities (Disclosure Obligations of Reporting Issuers) Rules 2007. The board of directors of Astoria accepts full responsibility for the accuracy of the information contained in this announcement. Mauritius 30 July 2020 JSE designated advisor Questco Corporate Advisory Proprietary Limited Company Secretary Clermont Consultants (MU) Limited Date: 30-07-2020 11:39:00 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.