Dealings in securities by a director of the company and a director of a related company African Rainbow Capital Investments Limited (Incorporated in the Republic of Mauritius) (Registration number C148430) Share code: AIL ISIN: MU0553S00000 ("ARC Investments" or "the company") DEALINGS IN SECURITIES BY A DIRECTOR OF THE COMPANY AND A DIRECTOR OF A RELATED COMPANY In compliance with the JSE Limited Listings Requirements, shareholders are advised of the following dealings in ARC Investments securities by a director of a company and a director of a related company: Name of director: Mmamodiane Refiloe Nkadimeng Company: ARC Investments Date of transaction: 19 March 2021 Nature of transaction: On-market purchase of securities Number of securities: 51 106 Class of securities: ARC Investments ordinary shares Purchase price: 400c per share Total value of the transaction: R204 424.00 Clearance obtained: Yes Nature of interest: Direct beneficial Name of director: Thomas Andrew Boardman Office held: Chairman of UBI General Partner Proprietary Limited Investment Committee Name of related company: UBI General Partner Proprietary Limited, the general partner of the ARC Fund* Name of associate: Navigumus Investments (Pty) Ltd Relationship to associate: Director of associate Date of transaction: 18 March 2021 Nature of transaction: On-market purchase of securities Number of securities: 1 700 000 Class of securities: ARC Investments ordinary shares Purchase price: 383.47c per share Total value of the transaction: R6 518 990.00 Clearance obtained: Yes Nature of interest: Indirect beneficial *ARC Investments is a Limited Partner in the ARC Fund, an en-commandite partnership. Full details of the structure were disclosed in the Pre-Listing Statement published on 28 August 2017. Ebene, Mauritius (with simultaneous circulation in Johannesburg) 23 March 2021 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 23-03-2021 02:28:00 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.