Share consolidation, increase in authorised share capital and Rights Offer MIDDLE EAST DIAMOND RESOURCES LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2001/006539/06) (Share Code: MED ISIN Code: ZAE000211876) (“MEDR” or “the company”) Share consolidation, increase in authorised share capital and Rights Offer Shareholders are advised that the MEDR board has decided to do a partially underwritten Rights Offer of R 20 million in order to raise cash to prepare the outstanding financial statements and pay long outstanding creditors. The Rights Offer will also assist MEDR with future acquisitions. In order to undertake the Rights Offer, the company will restructure its authorised and issued share capital through a share consolidation on a 1: 100 basis, meaning that every one hundred no par value shares will be consolidated into one no par value share. The authorised share capital will also be increased. Shareholders will be notified when the circular incorporating the share consolidation and increase in authorised share capital is distributed. A further detailed announcement regarding the Rights Offer will be made in due course. Johannesburg 25 May 2020 Sponsor Exchange Sponsors Date: 25-05-2020 01:26:00 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.