Fulfilment of conditions precedent to the acquisition of certain commercially viable assets of Jet THE FOSCHINI GROUP LIMITED Reg. No.: 1937/009504/06 Code : TFG ISIN : ZAE000148466 (“TFG” and “Company) FULFILMENT OF CONDITIONS PRECEDENT TO THE ACQUISITION OF CERTAIN COMMERCIALLY VIABLE ASSETS OF JET 1. Introduction Shareholders of TFG ("Shareholders") are referred to the Company’s SENS announcement on 17 August 2020 in which Shareholders were advised that on 14 August 2020, TFG had successfully negotiated and concluded a sale of assets agreement (“Agreement”) with Edcon Limited and its Business Rescue Practitioners to acquire certain commercially viable stores and selected assets of JET in South Africa (“Proposed Transaction”). 2. Fulfilment of conditions precedent Shareholders are hereby notified that all conditions precedent to the Proposed Transaction as set out in the Agreement have either been fulfilled or waived, as the case may be. Accordingly, the Proposed Transaction, including the transfer of 382 South African JET stores and approximately 4,800 employees, is now unconditional in accordance with the terms of the Agreement and was implemented with an effective date of 25 September 2020. Shareholders are further advised that the acquisition by TFG of the JET stores and assets located within the Republic of Botswana, the Republic of Namibia, the Kingdom of Lesotho and the Kingdom of eSwatini, remain subject to satisfactory fulfilment or waiver, as the case may be, of conditions precedent including, inter alia, approval by regulatory authorities in these jurisdictions. Cape Town 25 September 2020 Sponsor: UBS South Africa Proprietary Limited Date: 25-09-2020 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.