Change Statement and Notice of Annual General Meeting MONTAUK HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2010/017811/06) (Share code: MNKI & ISIN: ZAE000197455) ("MNK", “Montauk” or "the Company") CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETING Shareholders are advised that Montauk’s integrated annual report, incorporating the audited annual financial statements for the year ended 31 March 2019, has been posted to shareholders. The audited annual financial statements contain the following modification to the reviewed provisional consolidated results for the year ended 31 March 2019, released on SENS on Thursday 9 May 2019: An earn out liability of US$2 million, recognised in connection with a business combination in the current year, has been reclassified from Long- term provisions to Non-current financial liabilities with the effect that Long-term provisions have decreased from US$7.5 million to US$5.5 million and Non-current financial liabilities have increased from US$0.8 million to US$2.8 million in the statement of financial position in the current year. The reclassification has no impact on the comparative results and has no impact on the statement of comprehensive income. BDO South Africa Incorporated audited the annual financial statements of Montauk and their unqualified report is available for inspection at the registered offices of the Company. Shareholders are advised that the integrated annual report for the year ended 31 March 2019 is also available on the Company’s website (www.montauk.co.za). The integrated annual report contains a notice of Annual General Meeting for Montauk shareholders, which will be held at the registered offices of the Company, Suite 801, 76 Regent Road, Sea Point, Cape Town, 8005 on Thursday, 12 September 2019 at 14:00. Shareholders should note the record date is Friday 6 September 2019 and last date to trade is Tuesday 3 September 2019 to be entitled to vote and participate at the Annual General Meeting. Cape Town 31 July 2019 Sponsor: Investec Bank Limited Date: 31/07/2019 05:00:00 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.