Court Approval of Scheme RARE HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration Number: 2002/025247/06 Share Code: RAR ISIN: ZAE000180626 ("Rare" or "the Company") COURT APPROVAL OF SCHEME Rare shareholders are referred to the announcement published by Rare on 22 June 2016, regarding the firm intention of Mayfair Speculators Proprietary Limited (“the Offeror”) to make an offer to acquire all ordinary shares in Rare, excluding those ordinary shares held by the Offeror, Stafric Investment and Management Services Proprietary Limited and Doculate Investments Proprietary Limited (“Scheme”). Shareholders are furthermore referred to the announcement published by Rare on 24 August 2016 wherein it was announced that the resolutions proposed at the Scheme meeting were approved by 82.41% of eligible Rare shareholders. The Company has been notified by certain of the shareholders who voted against the resolutions that they require the Company to seek court approval, in terms of section 115(3) of the Companies Act of 2008, as amended, to proceed to implement the Scheme. IMPORTANT DATES AND TIMES Accordingly, shareholders are advised that the important remaining dates and times relating to the Scheme, as set out in the announcement released by Rare on 25 July 2016 and in the Scheme circular (which is available on Rare’s website at www.rare.co.za), may change. To the extent required, the Company will advise shareholders in due course as to the amended important dates and times. By order of the Board Kliprivier 1 September 2016 Transaction Advisor and Designated Advisor: PSG Capital (Pty) Limited Date: 01/09/2016 04:40:00 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.