Exercise Of Options By Director In Terms Of The Deneb Long Term Incentive Scheme And Sale Of Securities By Director DENEB INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2013/091290/06) Share code: DNB ISIN: ZAE000197398 (“Deneb” or the “Company”) EXERCISE OF OPTIONS BY DIRECTOR IN TERMS OF THE DENEB LONG TERM INCENTIVE SCHEME AND SALE OF SECURITIES BY DIRECTOR In compliance with rules 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information is disclosed: NAME OF DIRECTOR G Wege COMPANY OF WHICH I AM A DIRECTOR Deneb Investments Limited STATUS:EXECUTIVE/NON-EXECUTIVE Executive TYPE OF SECURITIES Shares CLASS OF SECURITIES Ordinary DATE OF TRANSACTION 5 July 2018 CENTS PER SHARE 223 NUMBER OF SECURITIES TRANSACTED 182,765 TOTAL RAND VALUE OF SECURITIES R407,565.95 NATURE OF TRANSACTION Delivery of ordinary shares through the exercise of Deneb Long Term Incentive Scheme options granted and accepted in 2014 at an adjusted strike price of 44 cents strike price (off-market) NATURE AND EXTENT OF INTEREST IN THE Direct beneficial TRANSACTION CLEARANCE OBTAINED Yes NAME OF DIRECTOR G Wege COMPANY OF WHICH I AM A DIRECTOR Deneb Investments Limited STATUS:EXECUTIVE/NON-EXECUTIVE Executive TYPE OF SECURITIES Shares CLASS OF SECURITIES Ordinary DATE OF TRANSACTION 5 July 2018 CENTS PER SHARE 220 NUMBER OF SECURITIES TRANSACTED 49,057 TOTAL RAND VALUE OF SECURITIES R107,925.40 NATURE OF TRANSACTION Sale of ordinary shares (on-market) NATURE AND EXTENT OF INTEREST IN THE Direct beneficial TRANSACTION CLEARANCE OBTAINED Yes Clearance to deal in these shares was obtained in accordance with rule 3.66 of the JSE Listings Requirements. Cape Town 6 July 2018 Sponsor PSG Capital Date: 06/07/2018 01:00:00 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.