Announcement to shareholders regarding its investment in Classic FM South Africa Proprietary Limited (“Classic”) AFRICAN MEDIA ENTERTAINMENT LIMITED (Incorporated in the Republic of South Africa) (Registration number 1926/008797/06) Share Code: AME ISIN: ZAE000055802 (“AME” or “the company”) ANNOUNCEMENT TO SHAREHOLDERS REGARDING ITS INVESTMENT IN CLASSIC FM SOUTH AFRICA PROPRIETARY LIMITED (“Classic”) Shareholders are advised that the company has been informed by the board of directors of Classic that, at a board meeting of Classic held on Friday, 27 September 2019, a resolution was adopted approving the voluntary commencement of business rescue proceedings in terms of the Companies Act, 2008. The board of that company believes that Classic will remain on air. AME acquired a shareholding in Classic in January 2018 and is a substantial creditor to Classic on loan account. Shareholders are further advised that the goodwill and trade mark intangible assets that related to the acquisition were fully impaired in the annual financial statements for the year ended 31 March 2019, and in the interim results for the six months ended 30 September 2019, additional write-offs will be implemented to reduce the company’s exposure to Classic to nil. The interim results are expected to be released in or about the last week of November 2019. By order of the board. Johannesburg 1 October 2019 Sponsor Arbor Capital Sponsors Proprietary Limited Date: 01/10/2019 10:33:00 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.