Notice to shareholders of the commencement of business rescue proceedings Phumelela Gaming & Leisure Limited (Incorporated in the Republic of South Africa) (Registration number 1997/016610/06) Share code: PHM ISIN: ZAE000039269 NOTICE TO SHAREHOLDERS OF THE COMMENCEMENT OF BUSINESS RESCUE PROCEEDINGS Further to the announcement released on SENS on 8 May 2020 where we advised that : 1.1 the company board resolved in terms of Section 129(1) of the Companies Act, 71 of 2008 (“the Companies Act”) that voluntarily begin business rescue proceedings and be placed under supervision; and 1.2 the company filed for such supervision with the Company Intellectual Property Commission (“CIPC”). 2. As a shareholder of the company, you are an affected person as defined in Section 128(1)(a)(i) of the Companies Act. Insofar as an affected person of the company is concerned, the company is obliged: 2.1 within five business days of the date of filing for business rescue to publish to you its resolution placing it in rescue, advise you of the effective date of business rescue and to provide you with a sworn statement of the facts relevant to the grounds on which the company’s board resolution was founded; and 2.2 after the appointment of its business rescue practitioner, to publish a copy of the notice appointing such business rescue practitioner so that you have his name and contact details. 3. In terms of Section 129(3)(b) of the Companies Act, the company is obliged to appoint a business rescue practitioner who satisfies the requirements of Section 138 of the Companies Act and who has consented in writing to accept the appointment. 4. The company has nominated John Francis Evans as its business rescue practitioner, who has consented in writing to accept his appointment. 5. His contact details are as follows: John Francis Evans RS Advisors Tel: 083 376 0533 Email: johnevans@rsadvisors.co.za 6. In discharge of the company’s obligations to you in terms of 2.1 and 2.2 above, the following documents as well as all other notices relevant to the business rescue proceedings of the company, are also available at http://www.phumelela.com/Business- Rescue-Updates 6.1 proof of the company’s notice of filing for business rescue (Form COR123.1); 6.2 the company’s board resolution; 6.3 the company’s sworn statement; and 6.4 proof of the company’s notice of appointment of John Evans as its business rescue practitioner (Form COR123.2). 7. The company’s effective date of business rescue is the date of filing, i.e. 8 May 2020. Johannesburg 15 May 2020 Sponsor: Investec Bank Limited Date: 15-05-2020 05:16:00 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.