Non-Binding Expression of Interest and Cautionary Announcement 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”) NON-BINDING EXPRESSION OF INTEREST AND CAUTIONARY ANNOUNCEMENT Shareholders are advised that Unicorn has received a non-binding expression of interest (“Non-Binding Expression of Interest”) from Afrimat Limited (“Afrimat”) in respect of a possible transaction to acquire the entire issued ordinary share capital of Unicorn not already held by Afrimat or any of Unicorn’s subsidiaries (“Subject Shares”), by way of a scheme of arrangement in terms of section 114 of the Companies Act, 71 of 2008 (“Scheme”). In terms of the Non-Binding Expression of Interest, Afrimat proposes to acquire the Subject Shares in consideration for the issue of new listed Afrimat ordinary shares, at a ratio of 1 new Afrimat share for every 280 Subject Shares held, with no cash alternative. Afrimat has, on a confidential basis, obtained irrevocable undertakings from Unicorn shareholders holding, in aggregate, 57% of the Company’s issued share capital, to vote in favour of the Scheme, should a firm intention offer be made by Afrimat and the Scheme proposed to the Company’s shareholders for approval. The board of directors of the Company (“Board”) has entered into exclusive negotiations with Afrimat in connection with the Non-Binding Expression of Interest. The Non-Binding Expression of Interest, which contains terms and conditions customary for a transaction of this nature, does not constitute a firm intention to make an offer and it is possible that no offer may result from the process. Afrimat has indicated that, in order to enable it to submit a “firm intention offer letter”, for purposes of the Companies Regulations, 2011, it will be necessary for Afrimat to conduct a legal, financial, tax and commercial due diligence investigation into Unicorn and its business. Accordingly, pending further announcements, shareholders are advised to exercise caution when dealing in their Unicorn shares. The Board accepts responsibility for the information contained in this announcement. To the best of its knowledge and belief, the information contained in this announcement is true and nothing has been omitted which is likely to affect the importance of the information included. Johannesburg 25 May 2020 Sponsor Questco Corporate Advisory Proprietary Limited Date: 25-05-2020 05:30:00 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.