Update on the Offer to Subscribe for Shares by Verityhurst and the Disposal of the PLG Retirement Villages PEMBURY LIFESTYLE GROUP LIMITED (Incorporated in the Republic of South Africa) (Registration number 2013/205899/06) (“PL Group” or “the Company”) ISIN Code: ZAE000222949 JSE Code: PEM UPDATE ON THE OFFER TO SUBSCRIBE FOR SHARES BY VERITYHURST AND THE DISPOSAL OF THE PLG RETIREMENT VILLAGES Shareholders are referred to the announcements released on SENS on 30 July 2020 and 6 August 2020 (“Announcements”). As set out in the Announcements (and using the terms defined therein unless otherwise stated) shareholders were advised, inter alia, that the Board had accepted an offer from Verityhurst to enter into a Share Subscription Agreement in terms of which Verityhurst has agreed to subscribe for 180 000 000 Subscription Shares for cash at a subscription price of 10.5 cents per share for a total consideration of R18 900 000, subject to certain suspensive conditions, namely: - the signature of a Subscription Agreement on or before 7 August 2020; - the immediate disposal of the PLG Retirement Villages subsidiary at R1.00 to Mr AR McLachlan, his nominee or a third party, which is currently reflected in the PL Group results as discontinuing operations, is incurring monthly losses and has liabilities in excess of R20 million; - the listing of the Subscription Shares on the JSE within five business days of the lifting of the suspension of trading in the Company’s shares; and - the restructure of the Board. Further to the release of the aforementioned Announcements on SENS, the JSE has requested that the Company notify shareholders that: - given that the Company was suspended on 1 July 2020, the Subscription Price pertaining to the subscription of the Subscription Shares by Verityhurst is subject to discussions with the JSE in terms of the Company’s general authority; and - in so far as paragraph 9.7 of the Listings Requirements of the JSE is concerned and to which the disposal of the PLG Retirement Villages is subject, the JSE has, via the Designated Advisor, engaged with the Company in order to reach a determination of the categorisation of such disposal prior to signature of the disposal agreement. By order of the Board Johannesburg 14 August 2020 Designated Advisor Corporate Advisor to Verityhurst Merchantec Capital AcaciaCap Advisors Date: 14-08-2020 10:33:00 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.