Update on Transactions and Cautionary Announcement TRUSTCO GROUP HOLDINGS LIMITED Incorporated in the Republic of Namibia (Registration number 2003/058) Registered as an external company in South Africa (External registration number 2009/002634/10) NSX share code: TUC JSE share code: TTO OTCQX share code: TSCHY ISIN Number: NA000A0RF067 (“Trustco” or “the Group”) Update on Transactions and Cautionary Announcement Trustco shareholders are referred to the announcements released on SENS on 11 February 2020 and 27 March 2020, and using the definitions therein, are advised that: • The terms of the disposal of Herboths to Constantia are currently being re-evaluated by the parties, the outcome of which may have an effect on the terms of the Herboths Transaction; and • the terms of the LSH Disposal are currently being re-evaluated by the parties, the outcome of which, may have an impact on the terms of the LSH Transaction. Accordingly, shareholders are advised to exercise caution when dealing in Trustco’s securities until a further announcement is made. Windhoek, Namibia, 4 December 2020 Komada Holdings (Pty) Ltd Company Secretary and Investor Relations Services to Trustco Group Holdings Limited JSE Sponsor Vunani Corporate Finance - Johannesburg NSX Sponsor Simonis Storm Securities Proprietary Limited – Windhoek OTCQX Sponsor J.P Galda & Co – New York Date: 04-12-2020 07:30:00 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.