Update regarding the Disposal of the Electrical Manufacturers Division JASCO ELECTRONICS HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration Number: 1987/003293/06) Share Code: JSC ISIN: ZAE000003794 ("Jasco" or “the Group”) UPDATE REGARDING THE DISPOSAL OF THE ELECTRICAL MANUFACTURERS DIVISION Shareholders are referred to the detailed terms announcement released on SENS on Friday, 4 October 2019, which advised that Jasco, through its wholly owned subsidiary Jasco Trading (Pty) Limited, entered into a sale of business agreement with African Zaibatsu Corporation (Pty) Limited (“AZC”) (“Disposal Agreement”). In terms of the Disposal Agreement, AZC will acquire 100% of the Electrical Manufacturers Division (“EM”), as a going concern from Jasco Trading (Pty) Limited for a maximum expected aggregate purchase price of R65 million (“the Disposal”). The announcement date Friday, 4 October 2019 included the following condition precedent in paragraph 5.5 thereof: “By no later than 30 November 2019, the funding agreements between AZC and the IDC, in respect of the funding of the Disposal, are executed and become unconditional in accordance with their terms;” Shareholders are advised that the parties signed an addendum to the Disposal Agreement, which amended the date for the above condition precedent to 26 March 2020. Midrand 29 November 2019 Sponsor Grindrod Bank Limited Date: 29-11-2019 12:00:00 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.