RMB HOLDINGS LIMITED - Dealing in securities by the company

Dealing in securities by the company

RMB Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1987/005115/06)
ISIN: ZAE000024501
JSE ordinary share code: RMH
("RMH")

DEALING IN SECURITIES BY THE COMPANY

In compliance with the JSE Limited Listings Requirements, the following information is
disclosed:

 Company                                    :    RMH
 Date of transaction                        :    31 December 2020
 Nature of transaction                      :    Off market acquisition of RMH call
                                                 options
 Class of securities                        :    Options on ordinary shares
 Number of options                          :    19 514 151
 Option style                               :    Asian
 Option type                                :    Call
 Call strike price                          :    R0.0001 per share
 Delta reference                                 R1.3625 per share
 Total premium paid                         :    R26 693 902.00
 Expiry date                                :    4 October 2021
 Nature of interest                         :    Direct beneficial
 Clearance obtained                         :    Yes

Prior to the unbundling of RMH's 34% interest in FirstRand Limited in June 2020, all cash-
settled appreciation rights (SARs) were hedged through a total return swap between Rand
Merchant Investment Holdings Limited (RMI) and RMH. This arrangement was unwound
as a step in the unbundling transaction. Subsequent to the unbundling, RMH reviewed its
hedging strategy and decided to use call options to hedge its exposure to the SARs.

Sandton
4 January 2021

Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)

Date: 04-01-2021 10:02:00
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