Early retirement of a director CALGRO M3 HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration Number 2005/027663/06) Share code: CGR ISIN: ZAE000109203 (“Calgro M3” or “the Company”) EARLY RETIREMENT OF DIRECTOR In accordance with paragraph 3.59(b) of the Listing Requirements of the JSE Limited, shareholders are advised that Mr Frederick Johannes Steyn (“Derek”) has resigned, taking early retirement, as an executive director of the Company’s Board of Directors (“the Board”), effective 30 June 2019. Derek, one of the founding members of Calgro M3 back in 1995, has served the Company with dedication and distinction for the past 24 years and his contribution to the success and continued growth of the Company has been immense. Fortunately, Derek has entered into a long-term consultancy and advisory agreement with Calgro M3 in terms of which he will remain responsible for identifying new projects for the Residential Property Developments segment of the business and will also provide strategic advice and input in respect thereof. The Company is delighted to be retaining Derek’s experience, know-how and expertise on this basis, and which has provided management with great comfort. The Board would like to thank Derek for his valued commitment and contribution during his tenure as Executive Director and look forward to his ongoing support and input in future. The Board furthermore wishes Derek well with his participation in various international clay pigeon shooting tournaments on shooting ranges around the world as part of the South African National team. Johannesburg 13 May 2019 Sponsor Grindrod Bank Limited Date: 13/05/2019 07:06:00 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.