Further general share repurchases by Barloworld Barloworld Limited (Incorporated in the Republic of South Africa) (Registration number 1918/000095/06) (Income Tax Registration number 9000/051/71/5) (Share code: BAW) (JSE ISIN: ZAE000026639) (Share code: BAWP) (JSE ISIN: ZAE000026647) (Bond issuer code: BIBAW) (Namibian Stock Exchange share code: BWL) ("Barloworld" or the “Group” or the "Company") FURTHER GENERAL SHARE REPURCHASES BY BARLOWORLD 1. INTRODUCTION Shareholders are referred to the General Share Repurchase announcement published on 9 March 2020. The board of directors of the Company (“Board”) is pleased to inform shareholders that Barloworld has now repurchased a further 7 611 394 of its ordinary shares (“Buyback”) in terms of the general authority granted by shareholders at the annual general meeting of Barloworld held on 12 February 2020. Between 5 February 2020 and 16 March 2020 the Company has now repurchased a total of 18 245 058 of its own ordinary shares (“Cumulative Repurchases”). 2. DETAILS OF THE BUYBACK The Buyback was conducted in compliance with paragraph 5.72 (a) of the Listings Requirements of the JSE Limited (“JSE”), was funded from available cash resources and was effected through an intermediary via the order book operated by the JSE trading system without any prior understanding or arrangement between Barloworld and the counterparties. Buyback information Dates of Buyback: Between 9 and 16 March 2020 Lowest price paid per ordinary share: R74.47 Highest price paid per ordinary share: R84.37 Number of ordinary shares repurchased: 7 611 394 Total value of ordinary shares repurchased: R607 million Number of treasury shares after the Cumulative Repurchases: Nil Remaining number of ordinary shares available to be 3 024 200 (1.4% of ordinary shares in issue repurchased: on 1 October 2019) Remaining ordinary shares in issue after the Cumulative Repurchases: 201 025 646 The ordinary shares repurchased under the Cumulative Repurchases will be delisted and cancelled on or about 31 March 2020. 3. STATEMENT BY THE DIRECTORS Having considered the effect of the Cumulative Repurchases, the Board is of the opinion that, for a period of 12 months after the date of this announcement: • The Company and the Group will be able to pay its debts in the ordinary course of business; • The assets of the Company and the Group will be in excess of the liabilities of the Company and the Group. For this purpose, the assets and liabilities were recognised and measured in accordance with the accounting policies used in the latest audited annual group financial statements; • The share capital, reserves and working capital of the Company and the Group will be adequate for ordinary business purposes; and • The Company and the Group have passed the solvency and liquidity test and since the test was performed there have been no material changes in the financial position of the Group. 4. IMPACT OF THE BUYBACK ON THE FINANCIAL INFORMATION OF THE COMPANY The Company’s cash balances decreased by R607 million (before transaction costs) as a result of the Buyback. The Buyback will also impact the Group’s per ordinary share metrics by reducing the number of ordinary shares in issue. As a result of the Cumulative Repurchases, the Company’s cash resources decreased by R1 558 million (before transaction costs). Sandton 18 March 2020 Corporate Advisor and Sponsor Nedbank Corporate and Investment Banking, a division of Nedbank Limited Date: 18-03-2020 10:47:00 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.