Distribution of Circular and Notice of General Meeting PSV Holdings Limited Incorporated in the Republic of South Africa (Registration number 1998/004365/06) Share code: PSV ISIN: ZAE000078705 ("PSV" or “the Company”) DISTRIBUTION OF CIRCULAR AND NOTICE OF GENERAL MEETING 1. DISTRIBUTION OF CIRCULAR Shareholders are referred to the “Proposed Rights Offer and Conclusion of Underwriting Agreement” announcement released on SENS on 11 September 2019. Using the terms defined therein, unless otherwise stated, shareholders are hereby advised that the circular containing details of the authority to issue additional PSV shares in excess of PSV’s current issued share capital in terms of section 41(3) of the Companies Act and the waiver of the right to receive a mandatory offer in terms of Takeover Regulation 86(4), has been distributed today, 25 September 2019. The circular is available on the Company’s website at: http://www.psvholdings.com/Investor-Relations/circulars.asp. 2. NOTICE OF GENERAL MEETING Notice is hereby given that the General Meeting will be held at 10:00 on Friday, 25 October 2019 at the registered office of PSV, corner Serenade Road and North Reef Road, Elandsfontein Rail, Germiston, 1429, to consider, and, if deemed fit, to pass, with or without modification, the business stated in the notice of General Meeting, which is contained in the circular. The Board has determined that, in terms of section 62(3)(a), as read with section 59 of the Companies Act, the record date for the purposes of determining which shareholders of the Company are entitled to participate in and vote at the General Meeting is Friday, 18 October 2019. Accordingly, the last day to trade in PSV shares in order to be recorded in the Company’s securities register to be entitled to vote will be Tuesday, 15 October 2019. Johannesburg 25 September 2019 Corporate and Designated Adviser Merchantec Capital Date: 25/09/2019 03:39:00 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.