Proposed acquisition of a cannabis business and cautionary announcement Nutritional Holdings Limited (Registration number: 2004/002282/06) (Incorporated in the Republic of South Africa) (Share Code: NUT ISIN Code: ZAE000156485) (“Nutritional Holdings” or “the Company”) Proposed acquisition of a cannabis business and cautionary announcement Shareholders are advised that Nutritional Holdings has entered into a Memorandum of Understanding with The Wellness Trust 29 on the 17th December 2019 to acquire a 100% shareholding in Ukusekela Holdings (Pty) Ltd (“Ukusekela”) for a total consideration of R140 million payable by a combination of cash and the issue of Nutritional Holdings shares at 4.5 cents per share (“the Transaction”). Ukusekela holds various licenses in Lesotho, Zimbabwe and Swaziland for the cultivation, harvesting, manufacturing, distribution, importing and exporting of cannabis as well as a research laboratory in South Africa. It also has a distribution take-off agreement with one of the largest Cannabis pharmaceutical companies in Europe. Shareholders are advised to exercise caution when dealing in the Company’s securities until a full announcement is made. Johannesburg 17 December 2019 Designated Adviser Exchange Sponsors Date: 17-12-2019 03:30:00 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.