Dealings In Shares By Associates Of Directors TISO BLACKSTAR GROUP SE (Incorporated in England and Wales) (Company number: SE 110) (registered as an external company with limited liability in the Republic of South Africa under registration number 2011/008274/10) Share code: TBG ISIN: GB00BF37LF46 (“TBG” or “the Company”) DEALINGS IN SHARES BY ASSOCIATES OF DIRECTORS Shareholders are referred to the announcement released on SENS on 1 July 2019 relating to the small related party guarantee agreement (“Previous Announcement”). The dealings set out below relate to the disposal and acquisition of the 9 000 000 ordinary shares in the issued share capital of TBG (“TBG Shares”) as set out in the Previous Announcement. In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information regarding the dealings in securities is disclosed: A. NAME OF DIRECTOR Andrew David Bonamour COMPANY OF WHICH A DIRECTOR Tiso Blackstar Group SE STATUS: EXECUTIVE/NON-EXECUTIVE Executive TYPE AND CLASS OF SECURITIES Ordinary shares NATURE OF TRANSACTIONS Purchase of shares by an associate of a director (off-market transaction) DATE OF TRANSACTIONS 28 June 2019 PRICE PER SECURITY (CENTS) 310 cents NUMBER OF SECURITIES TRANSACTED 9 000 000 TOTAL RAND VALUE OF SECURITIES R27 900 000 TRANSACTED NAME OF ASSOCIATE K2018537321 (South Africa) Proprietary Limited RELATIONSHIP WITH DIRECTOR Andrew David Bonamour indirectly owns a beneficial interest of 40% of the issued share capital of the associate and is a director of the associate NATURE AND EXTENT OF INTEREST IN Indirect, beneficial THE TRANSACTIONS B. NAME OF DIRECTOR David Kwame Tandoh Adomakoh COMPANY OF WHICH A DIRECTOR Tiso Blackstar Group SE STATUS: EXECUTIVE/NON-EXECUTIVE Non-executive TYPE AND CLASS OF SECURITIES Ordinary shares NATURE OF TRANSACTION Sale of shares by an associate of a director (off-market transaction) DATE OF TRANSACTION 28 June 2019 PRICE PER SECURITY 310 cents NUMBER OF SECURITIES TRANSACTED 3 000 000 TOTAL RAND VALUE OF SECURITIES R9 300 000 TRANSACTED NAME OF ASSOCIATE Tiso Investment Holding (RF) Proprietary Limited RELATIONSHIP WITH DIRECTOR David Kwame Tandoh Adomakoh indirectly owns a beneficial interest of 50% of the issued share capital of the associate and is a director of the associate NATURE AND EXTENT OF INTEREST IN Indirect, beneficial THE TRANSACTION C. NAME OF DIRECTOR Nkululeko Leonard Sowazi COMPANY OF WHICH A DIRECTOR Tiso Blackstar Group SE STATUS: EXECUTIVE/NON-EXECUTIVE Non-executive TYPE AND CLASS OF SECURITIES Ordinary shares NATURE OF TRANSACTION Sale of shares by an associate of a director (off-market transaction) DATE OF TRANSACTION 28 June 2019 PRICE PER SECURITY 310 cents NUMBER OF SECURITIES TRANSACTED 3 000 000 TOTAL RAND VALUE OF SECURITIES R9 300 000 TRANSACTED NAME OF ASSOCIATE Tiso Investment Holding (RF) Proprietary Limited RELATIONSHIP WITH DIRECTOR Nkululeko Leonard Sowazi indirectly owns a beneficial interest of 50% of the issued share capital of of the associate and is a director of the associate NATURE AND EXTENT OF INTEREST IN Indirect, beneficial THE TRANSACTION Note: Although not an associate of David Kwame Tandoh Adomakoh and Nkululeko Leonard Sowazi, the balance of the TBG Shares, amounting to 6 000 000 ordinary shares in the issued share capital of TBG, was disposed of by the Tiso Foundation Charitable Trust. London 1 July 2019 Sponsor PSG Capital Date: 01/07/2019 05:10:00 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.