Dealing In Securities By A Director PSG Group Limited (Incorporated in the Republic of South Africa) (Registration number: 1970/008484/06) JSE Limited (“JSE”) share code: PSG ISIN code: ZAE000013017 LEI code: 378900CD0BEE79F35A34 (“PSG”) DEALING IN SECURITIES BY A DIRECTOR Shareholders are referred to the announcement released on the Stock Exchange News Service on 4 September 2017 regarding the hedging arrangement entered into by Mr ZL Combi (“Original Hedging Arrangement”). The Original Hedging Arrangement has been replaced by the new hedging arrangement as set out below. In compliance with paragraphs 3.63 to 3.74 of the JSE Listings Requirements, the following information is disclosed: NAME OF DIRECTOR ZL Combi COMPANY OF WHICH A DIRECTOR PSG Group Limited STATUS: EXECUTIVE/NON-EXECUTIVE Non-executive TYPE OF SECURITIES Shares CLASS OF SECURITIES Ordinary DATE OF TRANSACTION 10 July 2020 NUMBER OF SECURITIES TRANSACTED 354 000 NATURE OF TRANSACTION Zero-cost collar (off-market transaction) PUT OPTION STRIKE PRICE R138.02 CALL OPTION STRIKE PRICE R210.10 OPTION STYLE European scrip settled EXPIRY DATE 5 July 2022 (as to 177 000 shares) and 12 July 2022 (as to the remaining 177 000 shares) NATURE AND EXTENT OF INTEREST IN Direct, beneficial THE TRANSACTION The aforementioned hedging arrangement which Mr ZL Combi has entered into will help facilitate a two-year loan facility with the counterparty, being a South African bank, with a maximum outstanding capital amount of R48 859 080. At the closing PSG share price of R160.00 on 10 July 2020, the value of the above-mentioned PSG shares amounted to R56 640 000. Clearance for the above was obtained in accordance with paragraph 3.66 of the JSE Listings Requirements. 14 July 2020 Stellenbosch Sponsor PSG Capital Independent sponsor UBS South Africa Date: 14-07-2020 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.