Acceleration of loan on Blackpool New Frontier Properties Ltd (Incorporated in the Republic of Mauritius on 5 June 2014) (Registration number 123368C1/GBL) SEM share code: NFP.N000 JSE share code: NFP ISIN: MU0453N00004 (“New Frontier” or “the Company”) ACCELERATION OF LOAN ON BLACKPOOL Shareholders are referred to New Frontier’s unaudited results for the three months ended 31 May 2019 wherein shareholders were, inter alia, advised that the New Frontier group of companies (the “Group”) had exceeded its loan-to-value (“LTV”) covenants and that whilst the Group had the support of its funders, its loan terms were effectively repayable on demand. BCC Eiffel Limited (“BCC Eiffel”), a wholly-owned subsidiary of New Frontier, received a notice of acceleration from Deutsche Pfannbriefbank on its loan secured on Houndshill Shopping Centre, Blackpool (the “Blackpool loan”). The demand required the BCC Eiffel to repay the outstanding loan of £56.9 million by 13.00 (London Time) on 30 October 2019. The latest valuation of the centre by the Group’s valuers was £48.0 million, resulting in an LTV of 119%. A further valuation of £46.8 million was subsequently obtained from a second valuer. The directors of BCC Eiffel have concluded that it is not possible to settle the demand for repayment and have informed Deutsche Pfannbriefbank of this fact. New Frontier will keep shareholders informed as further information in respect of the acceleration of the Blackpool loan becomes available. New Frontier holds primary listings on the Stock Exchange of Mauritius Ltd (“SEM”) and the Alternative Exchange of the Johannesburg Stock Exchange (“JSE”). 30 October 2019 This notice is issued pursuant to SEM Listing Rule 11.3. The board of New Frontier Properties Ltd accepts full responsibility for the accuracy of the information in this notice For further information please contact: JSE sponsor Java Capital +27 11 722 3050 Company secretary Osiris Corporate Solutions (Mauritius) Ltd +230 650 4030 Date: 30/10/2019 02:45:00 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.