Finalisation and declaration announcement relating to the conversion of Class E preference shares to ordinary shares ECSPONENT LIMITED Incorporated in the Republic of South Africa Registration number: 1998/013215/06 JSE Code: ECS - ISIN: ZAE000179594 Debt Issuer Code: ECSD Hybrid Issuer Code: ECSH ("the Company" or "Ecsponent") Class E Preference Shares Series No. JSE Code ISIN Ecsponent Pref Share E1 1 ECSE1 ZAE000250155 Ecsponent Pref Share E2 2 ECSE2 ZAE000254397 Ecsponent Pref Share E3 3 ECSE3 ZAE000258869 Ecsponent Pref Share E4 4 ECSE4 ZAE000263281 Ecsponent Pref Share E5 5 ECSE5 ZAE000268363 Ecsponent Pref Share E6 6 ECSE6 ZAE000273132 Ecsponent Pref Share E7 7 ECSE7 ZAE000280947 FINALISATION AND DECLARATION ANNOUNCEMENT IN RESPECT OF THE CONVERSION OF THE CLASS E PREFERENCE SHARES INTO ORDINARY SHARES Security holders are referred to the announcement released on SENS on 29 May 2020 (“Announcement”), which provided details, inter alia, relating to the conversion of the Class E preference shares into ordinary shares (“Default Conversion”). Security holders are advised that the conversion rate applicable to Class E preference shares is as set out below: Class ISIN Conversion ratio – number of ordinary shares for 1 (one) preference share Class E All ISIN numbers 2771.09096 The above conversion rate is driven by the weighted average closing price of the Company’s ordinary shares, calculated over the last twenty days of trading on the JSE prior to the first day of default, with the first day of default being 9 March 2020. In the event that the Default Conversion gives rise to a fraction of an ordinary share becoming due to a Class E preference shareholder, fractional entitlements will be rounded up or down to the nearest whole number in compliance with the JSE’s rounding convention, and in accordance with the terms of the Company’s Memorandum of Incorporation. The timetable set out in the Announcement will not change and is repeated below: 2020 Last day to trade prior to the Default Conversion becoming effective Tuesday, 4 August Suspension in trading in the Class E preference shares Wednesday, 5 August Commencement of trading in the ordinary shares Wednesday, 5 August Record date for the Default Conversion (“Record Date”) Friday, 7 August Accounts of current dematerialised Class E preference shareholders with their CSDPs or Tuesday, 11 August Brokers will be updated, as applicable, with the ordinary shares Share certificates relative to the ordinary shares issued pursuant to the Default Tuesday, 11 August Conversion to relevant certificated Class E preference shareholders, posted by registered post, at their risk Current Class E preference shares removed from the JSE List at commencement of trade Wednesday, 12 August Note: 1. Class E preference shareholders may not dematerialise or rematerialise their preference shares between Tuesday, 4 August 2020 and Friday, 7 August 2020, both dates inclusive. For more information about this announcement or the Ecsponent group, email investor.relations@ecsponent.com or visit www.ecsponentlimited.com/investor-relations. 21 July 2020 Pretoria Sponsor to Ecsponent Questco Corporate Advisory (Pty) Ltd Date: 21-07-2020 10:58:00 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.