Update: Specific Issue of Shares for Cash - Voting Results VISUAL INTERNATIONAL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2006/030975/06) ISIN Code: ZAE000187407 Share code: VIS (“Visual” or “the Company”) UPDATE: SPECIFIC ISSUE OF SHARES FOR CASH – VOTING RESULTS Shareholders are referred to the announcement published on 7 September 2018 regarding the specific issue of shares for cash to Robco Holdings Proprietary Limited and TLP Investments One Five Four Proprietary Limited, or their nominees (“Announcement”). Capitalised terms used herein will, unless indicated otherwise, bear the same meaning as defined in the Announcement. The board of directors is pleased to advise that the ordinary resolution (which required a 75% vote in accordance with the JSE Listings Requirements) for the approval of the Specific Issue has been passed by the requisite majority of Visual shareholders by written consent in terms of section 60 of the Companies Act, 71 of 2008 (“Notice”). The Notice will be enclosed with Visual’s 2018 integrated annual report (“Annual Report”) for information purposes. The Annual Report is expected to be issued as soon as possible after the Company’s audited results for the year ended 28 February 2018 have been published, which in turn is subject to the auditors’ requirements having been addressed, as detailed in the announcement dated 12 October 2018. The Specific Issue is still subject to the fulfilment of certain suspensive conditions. A further announcement will be published on SENS once the Specific Issue has become unconditional. Cape Town 22 October 2018 Designated Advisor Arbor Capital Sponsors Proprietary Limited Date: 22/10/2018 03:48:00 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.