Finalisation announcement regarding the scheme of arrangement AVIOR CAPITAL MARKETS HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2015/086358/06) JSE share code: AVR ISIN: ZAE000211637 (“Avior” or “the company”) FINALISATION ANNOUNCEMENT REGARDING THE SCHEME OF ARRANGEMENT Shareholders are referred to the announcements released regarding the firm intention by Char Trade 117 CC t/a Ace Retail Solutions (the “offeror”) to make an offer to acquire all of the issued ordinary shares of Avior, excluding the Avior shares held by Stately Horse Properties Proprietary Limited and Mr. Kevin Mattison (collectively the “excluded shareholders”), the last of which was released on SENS on 20 January 2020. Avior is pleased to announce that all outstanding conditions precedent to the scheme of arrangement between Avior and Avior shareholders (the “scheme”) have now been fulfilled and implementation of the scheme will take place in accordance with the timetable set out in the circular issued to Avior shareholders, and announced on SENS on 18 December 2019. With effect from Monday, 17 February 2020 (the “operative date”) the offeror will acquire all Avior shares held by Avior shareholders other than the excluded shareholders (the “Avior minority shareholders”) and the Avior minority shareholders will receive the cash consideration of 67 cents per Avior share. The listing of Avior on the AltX board of the JSE Limited will be suspended with effect from the commencement of trade on Wednesday, 12 February 2020 and terminated with effect from the commencement of trade on Tuesday, 18 February 2020. The board of directors of the company, individually and collectively accepts full responsibility for the accuracy of the information contained in this announcement. In addition, the board of directors of the company certifies that to the best of its knowledge and belief, the information contained in this announcement solely pertaining to the company is true and, where appropriate, does not omit anything that is likely to affect the importance of the information contained herein, and that all reasonable enquiries to ascertain such information has been made. 4 February 2020 Corporate advisor and designated advisor Java Capital Date: 04-02-2020 10:45:00 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.