Posting of Circular Relating to Scrip Distribution or Cash Dividend Election Metrofile Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 1983/012697/06) Share code: MFL ISIN: ZAE000061727 ("Metrofile" or the “Company”) POSTING OF CIRCULAR RELATING TO SCRIP DISTRIBUTION OR CASH DIVIDEND ELECTION Shareholders of Metrofile are referred to the Company’s interim results for the period ended 31 December 2018 published on the Stock Exchange News Service (“SENS”) on Friday, 15 March 2019 and the dividend declaration announcement published on SENS on Wednesday, 20 March 2019, wherein the board of directors of Metrofile informed shareholders that it had resolved to declare a distribution of fully-paid Metrofile ordinary shares with a par value of 0.6146 cent each (“Ordinary Shares”) (the “Scrip Distribution”). The Scrip Distribution will be to ordinary shareholders (“Shareholders”) recorded in the securities register of the Company at the close of business on Thursday, 18 April 2019 (“Record Date”). Shareholders will, however, be entitled to elect to receive a gross cash dividend of 5 cents per Metrofile Ordinary Share held on the Record Date, in respect of all or part of their ordinary shareholding, instead of the Scrip Distribution (the “Cash Dividend”). The number of Scrip Distribution shares to which Shareholders will become entitled pursuant to the Scrip Distribution (to the extent that such Shareholders have not elected to receive the Cash Dividend) will be determined by reference to such Shareholder’s ordinary shareholding in Metrofile (at the close of business on the Record Date) in relation to the ratio that 5 cents bears to the volume weighted average price of Metrofile Ordinary Shares traded on the JSE during the 10-day trading period ending on Wednesday, 3 April 2019. Shareholders are advised that a circular, setting out, inter alia, the terms of the Scrip Distribution and Cash Dividend (and including a Form of Election) will, where applicable, be posted to shareholders today, Monday, 1 April 2019 (“the Circular”). The Circular will also be available on the Company’s website, www.metrofilegroup.com. Johannesburg 1 April 2019 Sponsor The Standard Bank of South Africa Limited Transaction Advisor Apex Partners Proprietary Limited Date: 01/04/2019 09:22:00 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.