VOLUNTARY EARLY REDEMPTION AND DELISTING OF TRADEHOLD’S CLASS “A” PREFERENCE SHARES - TDHP TRADEHOLD LIMITED (Registration number: 1970/009054/06) (“Tradehold” or “the Company”) Incorporated in the Republic of South Africa Share code: TDHP ISIN: ZAE000201166 VOLUNTARY EARL REDEMPTION AND DELISTING OF TRADEHOLD’S CLASS “A” CUMULATIVE, REDEEMABLE PREFERENCE SHARES ("“A” PREFERENCE SHARES") Notice is hereby given that Tradehold has issued a revocable voluntary redemption notice to A” Preference Shareholders, indicating that Tradehold will fully redeem and cancel (the “Voluntary Redemption”) all of the “A” Preference Shares which are currently in issue, being 61,927,500 “A” Preference Shares, on 18 December 2017 (the “Voluntary Redemption Date”). The Voluntary Redemption will take place at ZAR1,000 cents per “A” Preference Share, being an aggregate return of capital of R619,275,000 to the “A” Preference Shareholders out of contributed tax capital (as defined in section 1 of the Income Tax Act, 1962) (“CTC”) of the Issuer. The Issuer shall pay all Securities Transfer Tax in respect of the voluntary redemption of the A Preference Shares as and when due. The “A” Preference Shares will also subsequently be delisted from the JSE Limited by way of a delisting. Immediately prior to the Voluntary Redemption, Tradehold will declare and pay all accrued dividends on the “A” Preference Shares in an amount of 3.62356 cents per “A” Preference Share ("Accrued “A” Preference Share Dividends") in respect of the Dividend Period from 1 December 2017 to 18 December 2017 on the Voluntary Redemption Date from the distributable reserves of the Company. The declaration and payment of the Accrued “A” Preference Share Dividends will not reduce the CTC of the Issuer. The Accrued “A” Preference Share Dividends constitute a foreign dividend, as defined in section 1 of the Income Tax Act, 1962 (“ITA”), and is a dividend for purposes of dividends tax (“DT”) imposed under Part VIII of Chapter II of the ITA, since the “A” Preference Shares are listed on the JSE Limited. In terms of the ITA, DT of 20% has been withheld for those “A” Preference Shareholders who are not exempt from DT. “A” Preference Shareholders who are not exempt from DT will therefore receive a net dividend of 2.89885 cents per “A” Preference Share. All required consents and waivers from the “A” Preference Shareholders will be obtained for purposes of the Voluntary Redemption. The Voluntary Redemption does not coincide with a Dividend Payment Date (as defined in the terms and conditions governing the “A” Preference Shares), therefore breakage fees in respect of certain hedging arrangements entered into by the Company in connection with the “A” Preference Shares are payable of 0.13490 cents per “A” Preference Share. The salient dates for the redemption, payment of dividends and delisting of the “A” Preference Shares are listed below: Last day of trade Tuesday, 12 December 2017 List date Wednesday, 13 December 2017 Record date Friday, 15 December 2017 Redemption Date Monday, 18 December 2017 11 December 2017 Cape Town Joint Debt Sponsor Nodus Capital Proprietary Limited Mettle Specialised Finance Proprietary Limited Date: 11/12/2017 05:50:00 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.