Clarification with Regard to Outstanding Taxes Paragraph in the Provisional Reviewed Condensed Group Results GOLD BRANDS INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2015/168426/06) JSE code: GBI ISIN: ZAE000212791 (“Gold Brands” or “the Company” or “the Group”) CLARIFICATION WITH REGARD TO OUTSTANDING TAXES PARAGRAPH IN THE PROVISIONAL REVIEWED CONDENSED GROUP FINANCIAL RESULTS FOR THE YEAR ENDED 28 FEBRUARY 2018 Shareholders are referred to the Reportable Irregularity paragraph of the Provisional Reviewed Condensed Group Financial Results for the Year Ended 28 February 2018 released on SENS on 2 July 2018, wherein it was stated that: “During the financial year, Gold Brands Investments Limited and its subsidiaries did not make payments relating to Valued-Added Tax and Employees Tax to the South African Revenue Services.” The directors hereby provide the following clarification in respect of the paragraph: Gold Brands Investments Limited has a VAT refund due by South African Revenue Services (“SARS”). The reportable irregularity relates to only two subsidiaries in the Group where Value-added Taxation and Employees Taxation returns were submitted to SARS, however, no or not all payments due to SARS were made. Gold Brands is currently in communication with SARS to agree upon payment terms to settle the amounts due. Johannesburg 3 July 2018 Designated Adviser Merchantec Capital Date: 03/07/2018 12:29:00 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.
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