Settlement agreement entered into by a wholly owned subsidiary Unicorn Capital Partners Limited Incorporated in the Republic of South Africa (Registration number 1992/001973/06) Share code: UCP ISIN: ZAE000244745 (“Unicorn” or “the Company”) SETTLEMENT AGREEMENT ENTERED INTO BY A WHOLLY OWNED SUBSIDIARY During the 2013 financial year, Megacube Mining Proprietary Limited) (“Megacube”), a wholly owned subsidiary of Unicorn, instituted arbitration proceedings against Keaton Mining Proprietary Limited (“Keaton”) for the recovery of funds previously owing to Megacube. In response, Keaton raised counterclaims based on alleged breaches of contract by Megacube (“the Dispute”). During April 2016, the arbitrator dismissed Megacube's claim and found Megacube to be liable to Keaton in respect of Keaton’s claims, including legal costs (“the April 2016 Award”). During September 2019, clarification was obtained on the April 2016 Award, confirming that the total claim against Megacube amounted to R116,5 million less the costs saved for not mining coal (“Quantification Arbitration”). Following extensive engagements with Keaton representatives regarding the assessment of (i) the financial status of Megacube, (ii) the prospects of Keaton being able to recover any awarded amounts from Megacube following the Quantification Arbitration and iii) the continued legal costs of running the Dispute, Megacube and Keaton have agreed to settle the Dispute and signed a Settlement Agreement on 14 May 2020 in terms of which both Keaton and Megacube will withdraw their respective claims relating to the Dispute with each party to pay its own legal costs of the Arbitration to date. In the Company’s interim results as at 31 December 2019, the Company provided for a liability of R92 million relating to the matter. Johannesburg 19 May 2020 Sponsor Questco Corporate Advisory Proprietary Limited Date: 19-05-2020 08:15:00 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.