Fulfilment of conditions precedent and withdrawal of cautionary announcement ARB HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration Number: 1986/002975/06) Share Code: ARH ISIN: AE000109435 ("ARB" or "the Company" or "the Group") FULFILMENT OF CONDITIONS PRECEDENT AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT Shareholders are referred to the renewal of cautionary announcement released on SENS on Wednesday, 7 November 2018, and the detailed terms announcement released on SENS on Wednesday 15 August 2018, which advised that ARB and its subsidiary, Eurolux Proprietary Limited, signed definitive agreements (the “Agreements”) with South Ocean Holdings Limited (“South Ocean”) and its subsidiary Radiant Group Proprietary Limited (“Radiant”), in terms of which ARB, through Eurolux, will acquire 100% of the total issued share capital of Radiant and the properties that Radiant operate out of, from South Ocean (the “Transaction”). Shareholders are advised that following the South Ocean general meeting held on 29 November 2018 on which shareholder approval was obtained, Competition Commission approval has also been obtained for the Transaction to proceed with the only restriction being a maximum of merger specific retrenchments of 25 employees for a period of 24 months following the merger date. Shareholders are further advised that the finalisation date of the Transaction has been postponed to 1 January 2019, in order to align the financial year end dates of ARB and South Ocean to facilitate the implementation of the Transaction. South Ocean have announced on SENS that the purchase consideration for the Transaction will be between R175 million and R185 million. Given that the effective date and the final purchase consideration have been determined and all the conditions precedent has been fulfilled, shareholders are no longer required to exercise caution when dealing in the Company’s securities. Durban 5 December 2018 Sponsor Grindrod Bank Limited Date: 05/12/2018 09:10:00 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.