Loan Facility: USD 20 Million Facilities Agreement Between Trustco Finance and DEG TRUSTCO GROUP HOLDINGS LIMITED Incorporated in the Republic of Namibia (Registration number 2003/058) Registered as an external company in South Africa (External registration number 2009/002634/10) NSX share code: TUC JSE share code: TTO OTCQX share code: TSCHY ISIN Number: NA000A0RF067 (“Trustco” or “the Company”) LOAN FACILITY: USD 20 000 000 FACILITIES AGREEMENT BETWEEN TRUSTCO FINANCE (PTY) LIMITED (“TRUSTCO FINANCE”) AS THE BORROWER AND DEUTSCHE INVESTITIONS UND ENTWICKLUNGSGESELLSCHAFT (“DEG”) AS THE LENDER Trustco shareholders (“Shareholders”) are hereby informed that DEG, a Development Finance Institution based in the Federal Republic of Germany, in association with the KfW Group, approved a USD term loan facility to Trustco Finance, a subsidiary of Trustco Group Holdings Limited (“Trustco”), in the amount of USD 20 million (approximately N$345 million* at current exchange rates). In keeping with Trustco’s commitment to the welfare of all Namibians, and as a strategic response to the COVID- 19 pandemic in partnership with DEG, the bulk of the facility will be used to provide student financing, as offered by Trustco Finance , as well as enhancing the educational facilities offered by the Institute for Open Learning (Pty) Ltd (“IOL”). Significant funding will also be made available to existing students to restructure and refinance their existing obligations as part of the group’s COVID-19 relief measures. * One Namibian dollar is equal to one South African rand. In these extraordinarily unsettling economic times, one of the ultimate objectives of the DEG facility is to enhance job security within Trustco’s educational businesses. Trustco’s Head of Education, Ilana Calitz, stated, “IOL welcomes fresh funding for Namibian education, especially as the distance education model has proven to be in high demand during the current pandemic. I am confident that a new hybrid model of education will emerge and distance education will become an integral part of the educational industry.” The approved facility significantly enhances Trustco’s capital structure and liquidity, and provides the company with ample resources to service Namibian borrowers in a time of great need. The approval is in line with Trustco’s previously communicated plan to redesign the funding structure of the business to ensure access to funding to meet the large demand from Namibian students. Since 2012 KFW/DEG has advanced more than NAD 550 Million to Trustco in debt. The approval is subject to a final agreement that is currently being drafted by the Parties. 3 June 2020 Komada Holdings (Pty) Ltd Company Secretary Trustco Group Holdings Limited JSE Sponsor Vunani Corporate Finance - Johannesburg NSX Sponsor Simonis Storm Securities Proprietary Limited – Windhoek OTCQX Sponsor J.P Galda & Co – New York Date: 03-06-2020 04:10:00 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.