Renewal of Cautionary Announcement CONDUIT CAPITAL LIMITED Incorporated in the Republic of South Africa (Registration number 1998/017351/06) Share code: CND ISIN: ZAE000073128 (“Conduit Capital” or “the Company”) RENEWAL OF CAUTIONARY ANNOUNCEMENT Further to the ‘Acquisition of Property Development Company and Cautionary Announcement’ dated 11 February 2020, shareholders are advised that negotiations in relation to the transaction per the cautionary announcement included therein, are still in the process of being finalised and accordingly, shareholders are advised to continue exercising caution when dealing in the Company’s securities until a further announcement is made. Johannesburg 25 March 2020 Sponsor Merchantec Capital Date: 25-03-2020 04:19:00 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.