Distribution of a circular to shareholders HUGE GROUP LIMITED (Registration number 2006/023587/06) Share code: HUG ISIN: ZAE000102042 (“Huge” or “the Company”) DISTRIBUTION OF A CIRCULAR TO SHAREHOLDERS Shareholders are referred to the announcement released on SENS on 30 August 2019 relating to the conclusion of Executive Option Agreements between the Company and certain executive directors, which agreements are regarded as related party transactions (Transactions) and require approval by shareholders. The Company is required to issue a circular to shareholders containing, inter alia, information relating to the Transactions and the convening of a general meeting of shareholders (Circular). The Circular is required to include the pro forma effects of the Transactions on the most recent financial results of the Company, which are currently the results of the Company for the year ended 28 February 2019, as included in the Integrated Report which had previously been circulated to shareholders. In compiling the Circular, the Company is required to include a fairness opinion in respect of the Transactions. The Company decided to delay obtaining the fairness opinion until after the publication of the Company’s interim results for the six months ended 31 August 2019 (Interim Results). This has resulted in a delay in finalising the Circular. The Company is of the view that it is more meaningful to shareholders if the fairness opinion and pro forma effects of the Transactions were based on the Interim Results. Accordingly, the pro forma financial information to be included in the Circular will be based on the Interim Results. The JSE has condoned the delay in distributing the Circular and has granted the Company until the end of January 2020 to do so. The Company expects to publish its Interim Results prior to 29 November 2019. Johannesburg 4 November 2019 Transaction Sponsor Questco Proprietary Limited Date: 04/11/2019 04:10:00 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.