PSG Konsult Credit Rating And Outlook Unchanged PSG KONSULT LIMITED (Incorporated in the Republic of South Africa) Registration Number: 1993/003941/06 JSE Share Code: KST NSX Share Code: KFS ISIN Code: ZAE000191417 (“PSG Konsult” or “the Company”) PSG KONSULT TREASURY LIMITED Incorporated in the Republic of South Africa (Registration No. 2014/196582/06) Company Code: BICAP Stock Code: KST01 ISIN Code: ZAG000145285 PSG KONSULT CREDIT RATING AND OUTLOOK UNCHANGED Shareholders are advised that the rating agency Global Credit Rating Company (“GCR”) has affirmed the national scale Issuer ratings assigned to PSG Konsult of A-(ZA) and A1-(ZA) in the long term and short term respectively, with the outlook for both ratings remaining stable. GCR states, “PSG Konsult’s ratings reflect its established franchise in wealth management, complemented by its small but growing asset management and insurance divisions. The synergistic nature of the divisions creates a solid platform for cross-selling opportunities, leveraging off its large and growing advisor distribution network that has allowed for good customer loyalty to be maintained over the years. PSG Konsult’s financial risk profile benefits from limited capital needs, despite insurance risk, and minimal debt on its standalone balance sheet. GCR takes into consideration adjusted gearing (includes guarantees), with debt to operating income reported at a very conservative 12%. PSG Konsult’s net interest coverage ratio is in excess of 30x, whilst discretionary cash flow cover of adjusted debt was also strong at well over 100%. The group is highly cash generative, which has afforded meaningful financial flexibility to pursue several acquisitions with internal resources. This combined with entrance into the debt capital markets further enhance the liquidity buffer.” Tyger Valley 23 July 2018 Sponsor PSG Capital NSX sponsor: PSG Wealth Management (Namibia) Proprietary Limited, member of the Namibian Stock Exchange Date: 23/07/2018 04:32:00 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.