Quarterly Update Announcement - Publication of Year End Results VISUAL INTERNATIONAL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2006/030975/06) (“Visual” or “the Company”) ISIN code: ZAE000187407 Share code: VIS QUARTERLY UPDATE ANNOUNCEMENT - PUBLICATION OF YEAR END RESULTS Shareholders are referred to the announcement published on 28 November 2018 (“Previous Announcement”) regarding, amongst other things, the reason for the delay in the publication of the Company’s yearend results, i.e. being partly due to the Company having to secure alternative funding following the non-payment of the consideration in terms of the previously announced claw- back offer as advised to shareholders, and the fact that the Company is in the process of securing additional equity funding, as detailed in the Previous Announcement. Shareholders are advised that negotiations with a number of parties regarding an equity investment into Visual are ongoing. Additionally, the board of directors is still in the process of evaluating the expressions of interest received from two parties to acquire the Stellendale Junction land and deliberating on the best way forward for the Company and its shareholders. The audited results are anticipated to be published once the auditors’ requirements, as stated in the announcement published on 12 October 2018, have been addressed. The interim results have also been prepared and will be published as soon as possible. Cape Town 14 December 2018 Designated Advisor Arbor Capital Sponsors Proprietary Limited Date: 14/12/2018 02:56:00 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.