BRAIT SE - Dealings in securities by associates of a director

Dealings in securities by associates of a director

Brait SE
(Registered in Malta as a European Company)
(Registration No.SE1)
Share code: BAT ISIN: LU0011857645
Bond codes: WKN: A1Z6XC ISIN: XS1292954812 and WKN: A2SBSU ISIN: XS2088760157
LEI code: 549300VB8GBX4UO7WG59
("Brait" or the "Company")

DEALINGS IN SECURITIES BY ASSOCIATES OF A DIRECTOR

Further to the announcements released on SENS and the website of the LuxSE on 4 February 2020 and
10 February 2020, Titan Financial Services Proprietary Limited and its affiliates ("Titan") have informed Brait that it has
sold an additional 6,794,606 rights to the aggregate value of approximately ZAR7 million and that it will apply the
proceeds to subscribe for additional ordinary shares pursuant to the Brait rights offer ("Rights Offer").

Titan has provided an irrevocable undertaking that it shall follow rights to subscribe for ordinary shares to the
aggregate value of ZAR750 million and has provided an underwriting commitment of ZAR250 million to the Company.
In addition to this ZAR1,000 million commitment, Titan will use the proceeds from the sale of rights and ordinary
shares, and cash on hand, to subscribe for approximately ZAR131 million of ordinary shares pursuant to the Rights
Offer. This demonstates Titan’s continued commitment to Brait, the Company’s new stategy and the appointment of
Ethos Private Equity Proprietary Limited as the new investment advisor to Brait.

All ordinary shares held by Titan as at the date of this announcement, as well as ordinary shares to be subscribed for
by Titan pursuant to the rights offer, will be subject to a customary lock up of 90 days post the closing of the rights
offer and may not be disposed of, whether directly or indirectly, without the prior written consent of Brait.

In accordance with the requirements of European Union regulations and the JSE Limited, the notification and public
disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
is set out below:

 1.       Details of the persons discharging managerial responsibilities/person closely associated
 a)       Name                                Incapart Investments Proprietary Limited ("Incapart")

 2.       Reason for the notification
 a)       Position / status                   Person Closely Associated with a PDMR ^
 b)       Initial notification /              Initial notification
          amendment

 3.       Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
          monitor
 a)       Name                                Brait SE
 b)       LEI                                 549300VB8GBX4UO7WG59

 4.       "Details of the transaction(s) section to be repeated for (i) each type of instrument; (ii) each type of
          transaction; (iii) each date; and (iv) each place where transactions have been conducted"
 a)       Description of the financial        Rights issued pursuant to the rights offer
          instrument, type of instrument
          Identification code                 BATN ISIN: MT2000680212
 b)       Nature of the transaction           Sale of rights
 c)       Price(s) and volume(s)              Price(s)                        Volume(s)
                                              ZAR1.00                         6,794,606
 d)       Aggregated information
          Aggregated volume                   6,794,606
          Price                               ZAR1.00
 e)       Date of the transaction             2020-02-11
 f)       Place of the transaction            On market (Johannesburg Stock Exchange)

^ Incapart is ultimately controlled by a trust of which Dr Christo Wiese (a director of Brait) is a trustee and beneficiary.

Malta
12 February 2020

Brait is primarily listed and admitted to trading on the Euro MTF market of the Luxembourg Stock Exchange and its
secondary listing is on the exchange operated by the JSE Limited.

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 12-02-2020 05:45:00
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