Termination of Discussions Regarding the Subscription of Shares by AYO In Bowwood AYO TECHNOLOGY SOLUTIONS LIMITED (Incorporated in the Republic of South Africa) Registration number 1996/014461/06 Share code: AYO ISIN: ZAE000252441 ("AYO" or “the Company”) TERMINATION OF DISCUSSIONS REGARDING THE SUBSCRIPTION OF SHARES BY AYO IN BOWWOOD AYO Shareholders (“Shareholders”) are referred to the announcement released on SENS on 1 June 2020 regarding the subscription by SGT Solutions (Proprietary) Limited (“SGT”) for 45% of the ordinary shares in Bowwood and Main No 180 Proprietary Limited (“Bowwood”), which subscription was categorised as a small related part transaction in terms of the Listings requirements of JSE Limited (“the Transaction”). Shareholders are further referred to the announcement released by African Equity Empowerments Investments Limited (“AEEI”) on 22 September 2020 (“AEEI Announcement”) and are advised that as per the AEEI Announcement, discussions between SGT and Bowwood have been mutually terminated for the reasons set out in such announcement. Cape Town 22 September 2020 Joint Sponsor Vunani Sponsors Joint Sponsor Merchantec Capital Date: 22-09-2020 07:35:00 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.