Disclosure of beneficial interest in RFG ordinary shares RFG HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration number 2012/074392/06 JSE share code: RFG ISIN: ZAE000191979 (“RFG” or “the Company”) DISCLOSURE OF BENEFICIAL INTEREST IN RFG ORDINARY SHARES In accordance with section 122(3)(b) of the Companies Act 71 of 2008 (“the Act”) and paragraph 3.83(b) of the JSE Limited Listings Requirements, shareholders are advised that RFG has received notification in terms of section 122(1) of the Act that: Old Mutual Limited has increased its holding in RFG, such that the total interest in the ordinary shares of the Company held by Old Mutual Limited amounts to 15% (previously 10.03%) of the total issued ordinary share capital of RFG. As required in terms of section 122(3) of the Act, the Company has filed the required notice with the Takeover Regulation Panel. The board of directors of RFG accepts responsibility for the information contained in this announcement as it relates to the Company and confirms that, to the best of its knowledge and belief, such information relating to RFG is true and that this announcement does not omit anything likely to affect the importance of such information. Groot Drakenstein 15 April 2020 Sponsor RAND MERCHANT BANK (a division of FirstRand Bank Limited) Date: 15-04-2020 11:45:00 Supplied by www.sharenet.co.za 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.