Results of Annual General Meeting Value Group Limited (Incorporated in the Republic of South Africa) Registration number: 1997/002203/06 Share code: VLE ISIN code: ZAE000016507 (“Value” or “the company’) RESULTS OF ANNUAL GENERAL MEETING Shareholders are advised that at the Annual General Meeting (“AGM”) of Value held on 3 August 2018, all resolutions as set out in the notice of the AGM were passed by the requisite majority of members. In this regard, Value confirms the voting statistics from the AGM were as follows: % Number Total number of shares that could be voted at meeting 100% 177 983 727 Total number of shares present/represented including proxies at the meeting 79% 140 788 079 as % of voteable shares Total number of members present in person 8 Issued shares 100% 187 238 110 % of Votes in Votes Shares Absten- shares % % favour against voted tions that could be voted Ordinary Resolution Number 1: Re-election of non-executive directors: 1.1. Mr. V.W. Mcobothi 140 768 520 100 - 0.00 140 768 520 19 559 0.01 1.2 Dr. N.M. Phosa 140 768 520 100 - 0.00 140 768 520 19 559 0.01 Ordinary Resolution Number 2: Approval of re-election of audit and risk committee members: 2.1 Mr. I.M. Groves (chairman) 140 768 520 100 - 0.00 140 768 520 19 559 0.01 2.2 Mr. V.W. Mcobothi 140 768 520 100 - 0.00 140 768 520 19 559 0.01 2.3 Mr. C.D. Stein 140 768 520 100 - 0.00 140 768 520 19 559 0.01 Ordinary Resolution Number 3: Approval of re-appointment of external auditor 125 123 930 89.89 15 644 590 11.11 140 768 520 19 559 0.01 Ordinary Resolution Number 4: 4.1 Advisory endorsement of the remuneration policy and implementation report – approval of the remuneration policy by way of non-binding advisory vote 123 813 847 87.96 16 954 673 12.04 140 768 520 19 559 0.01 4.2 Advisory endorsement of the remuneration policy and implementation report – approval of the remuneration implementation report by way of a non-binding advisor vote 123 813 847 87.96 16 954 673 12.04 140 768 520 19 559 0.01 Ordinary Resolution Number 5: Approval of general authority to directors to allot and issue authorized but unissued ordinary shares 125 947 902 89.47 14 816 728 10.53 140 764 630 23 449 0.01 Ordinary Resolution Number 6: Approval of authority to allot and issue shares for cash 134 672 393 96.05 5 542 237 3.95 140 214 630 573 449 0.32 Ordinary Resolution Number 7: Approval of signing authority 140 714 630 100 - 0.00 140 714 630 73 449 0.04 Special Resolution Number 1: Approval of general authority to acquire (repurchase) Company shares 140 714 630 100 - 0.00 140 714 630 73 449 0.04 Special Resolution Number 2: Approval of the remuneration of the non-executive directors 138 047 771 98.12 2 637 945 1.88 140 685 716 102 363 0.06 Special Resolution Number 3: Authority to provide financial assistance to any company or corporation which is related or inter-related to the Company 125 098 954 88.90 15 615 676 11.10 140 714 630 73 449 0.04 For and on behalf of the Board Johannesburg 3 August 2018 Sponsor Investec Bank Limited Date: 03/08/2018 04:33:00 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.