Fulfilment of Outstanding Scheme Condition and Finalisation Announcement MASTER PLASTICS LIMITED Incorporated in the Republic of South Africa (Registration number 2016/323930/06) Share code: MAP ISIN: ZAE000242921 ("Master Plastics") FULFILMENT OF OUTSTANDING SCHEME CONDITION AND FINALISATION ANNOUNCEMENT 1. INTRODUCTION Unless otherwise indicated, capitalised words and terms contained in this announcement shall bear the same meanings ascribed thereto in the circular, dated Wednesday, 21 November 2018 ("Circular"). Shareholders are referred to: 1.1 the joint announcement by Master Plastics, MCGF II Partnership and MCGF II Investments released on SENS on 7 November 2018 and published in the South African press on 8 November 2018 of a firm intention by MCGF II Partnership and MCGF II Investments to make an offer to acquire all the Shares of Master Plastics (other than certain excluded Shares), dated 7 November 2018; 1.2 the announcement by Master Plastics regarding posting of the Circular and the Notice convening the Scheme Meeting, dated 21 November 2018; 1.3 the Circular; 1.4 the joint announcement by Master Plastics, MCGF II Partnership and MCGF II Investments released on SENS on 30 November 2018 and published in the South African press on 3 December 2018 regarding an increase in the offer consideration payable under the Scheme and the revised terms of the offer by MCGF II Partnership and MCGF II Investments to acquire all the issued ordinary Shares of Master Plastics (other than certain excluded Shares), dated 30 November 2018; and 1.5 the announcement by Master Plastics released on SENS on 20 December 2018 and published in the South African press on 21 December 2018 regarding the results of Scheme Meeting, dated 20 December 2018. The Board is pleased to announce that, following receipt from the Panel of a compliance certificate in terms of section 119(4)(b) of the Companies Act in respect of the Scheme on 8 January 2019, all outstanding Scheme Conditions to the implementation of the Scheme have now been fulfilled. 2. SALIENT DATES AND TIMES Shareholders are reminded of the following salient dates and times relating to the Scheme as set out in the Circular. 2019 Scheme LDT, being the last day to trade Shares on the JSE in order to be recorded in the Register to receive the Scheme Consideration, on Tuesday, 29 January Suspension of listing of Shares on AltX expected to take place at the commencement of trade on Wednesday, 30 January Scheme Consideration Record Date, being the date on which Scheme Friday, 1 February Participants must be recorded in the Register to receive the Scheme Consideration, by close of trade on Date on which the Scheme is implemented Monday, 4 February Scheme Consideration expected to be paid/posted to Scheme Participants who are Certificated Shareholders (provided their Forms of Surrender and Transfer (blue) and Documents of Title are received on or prior to 12:00 on the Scheme Consideration Record Date) on or about Monday, 4 February Scheme Participants who are Dematerialised Shareholders expected to have their accounts (held at their CSDP or broker) credited with the Scheme Consideration, on or about Monday, 4 February Termination of listing of Shares on AltX to take place at the commencement of trade on or about Tuesday, 5 February Notes: 1. All times given in this document are local times in South Africa. 2. Shares may not be dematerialised or rematerialised after the Scheme LDT, which date will be Tuesday, 29 January 2019. Johannesburg 9 January 2019 Corporate Advisor and Transaction Sponsor to Master Plastics Merchantec Capital Legal Advisor to Master Plastics Webber Wentzel Financial and Corporate Advisor to the Offerors The Standard Bank of South Africa Limited Legal Advisor to the Offerors Cliffe Dekker Hofmeyr Inc. Independent Expert Nodus Capital TS Proprietary Limited Date: 09/01/2019 12:30:00 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.