Director & Associate: Change of Interest in Securities MONTAUK HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2010/017811/06) (Share code: MNK & ISIN: ZAE000197455) ("MNK" or "the company") DIRECTOR & ASSOCIATE: CHANGE OF INTEREST IN SECURITIES In compliance with Rules 3.63 - 3.74 of the JSE Limited Listings Requirements, the following information is disclosed: Name of Director : B.S. Raynor Designation : Non-Executive director Nature of transaction : Change of interest from direct beneficial to that of an associate. The change is a result of the restructure of Mr Raynor’s retirement benefit scheme, whereby a portion of his interest in the Company, as held by his retirement benefit scheme, was transferred off-market to the retirement benefit scheme of his spouse, J. Raynor. Class of shares : Ordinary shares Nature of interest : Direct beneficial Date of transaction : 21.03.2019 Number of shares : 396 573 Transfer price : 4 840 cps Total value of transaction : R19 194 133.20 Name of Associate : J. Raynor Nature of transaction : Off-market acquisition of shares by an associate The acquisition is a result of the restructure of Mr B.S. Raynor’s retirement benefit scheme, whereby a portion of his interest in the Company, as held by his retirement benefit scheme, was transferred off-market to the retirement benefit scheme of his spouse, J.Raynor. Class of shares : Ordinary shares Nature of interest : Direct beneficial Date of transaction : 21.03.2019 Number of shares : 396 573 Transfer price : 4 840 cps Total value of transaction : R19 194 133.20 Clearance : Clearance in respect of par 3.66 of the JSE Listings Requirements was obtained Cape Town 29 March 2019 Sponsor: Investec Bank Limited Date: 29/03/2019 03:13:00 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.