VOLUNTARY JOINT ANNOUNCEMENT PERTAINING TO AN UPDATE ON THE RESTRUCTURE OF TRADEHOLD’S NON-PROPERTY BUSINESSES Tradehold Limited VestIN Holdings Limited (Registration number: 1970/009054/06) (Registration number: 47305) Incorporated in the Republic of South Africa Incorporated in Bermuda JSE Share code: TDH ISIN: ZAE000152658 ‘A’ Ordinary Share Code: VIN ("Tradehold" or "the Group") ISIN: BMG934031060 (“VestIN”) VOLUNTARY JOINT ANNOUNCEMENT PERTAINING TO AN UPDATE ON THE RESTRUCTURE OF TRADEHOLD’S NON-PROPERTY BUSINESSES 1. Introduction Tradehold and VestIN shareholders (“Shareholders”) are referred to the announcement released in Bermuda and on SENS on 22 August 2017 in which Tradehold advised that it had taken the first steps in what will be a series of transactions which will give effect to the reorganisation of its group through the separation of its property interests from its non-property interests (“the Restructure”). 2. Update on the Restructure Pursuant to the above, Shareholders are advised that the final condition precedent to be met, being Tradehold entering into a written guarantee, warranty and indemnity agreement with a third party in terms whereof Tradehold and its shareholders are indemnified against any losses that may arise as a result of them acquiring and holding the shares in VestIN remains unfulfilled. Tradehold has been engaging with such parties to fulfil the remaining condition precedent, failing which it will seek an alternative structure so as to achieve the same result for its shareholders. 3. Proposed effective date Shareholders are advised that the above mentioned outstanding condition precedent has resulted in a delay to the original transaction timetable. It is therefore now anticipated that the Restructure will be effective by the end of Tradehold’s financial year, 28 February 2018. Cape Town 28 November 2017 JSE Sponsor to Tradehold Bravura Capital Proprietary Limited Designated Advisor to VestIN in South Africa Questco Corporate Advisory Proprietary Limited Sponsor to VestIN in Bermuda Global Custody and Clearing Limited (LOM Financial Limited) Joint financial Advisors Rand Merchant Bank, a division of FirstRand Bank Limited Mettle Corporate Finance Proprietary Limited Attorneys Cliffe Dekker Hofmeyr Inc. Date: 28/11/2017 04:11:00 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.