Specific issue of shares for cash Brainworks Limited (Incorporated in the Republic of Mauritius) (Registration number: 115883 C1/GBL) Share Code: BWZ ISIN: MU0548S00000 (“Brainworks” or “the Company”) Specific issue of shares for cash At a general meeting of the Company held on 4 May 2018 the requisite majority of shareholders approved specific authority for the directors to issue up to a maximum of 13 656 154 ordinary shares in the Company at an issue price of R6.50 by no later than 4 November 2018 (“Specific Authority”). Shareholders are advised that the Company received an application from Promotion and Development Limited to subscribe for 10 000 000 ordinary shares for a total amount of R65 000 000 (“Specific Issue”). Further details pertaining to the Specific Issue required in terms of the JSE Listings Requirements are as follows: • The Specific Issue is to a public shareholder and is in respect of a class of shares already in issue. • The issue price of R6.50 represents a discount of 33.08% to the 30-day weighted average as at 26 February 2018 (i.e. the last practicable date of the circular to shareholders containing details of the Specific Authority). • The funds received pursuant to the Specific Issue will be applied towards the settlement of the Company’s borrowings and/or used to support the Company’s strategy going forward. • The Specific Issue shares will be allotted, issued and listed on Tuesday, 16 October 2018. • The Specific Issue will have no impact on the financial statements of the Company other than the subscription of shares for cash. Ebène, Mauritius 12 October 2018 Sponsor Questco Corporate Advisory Proprietary Limited Date: 12/10/2018 01:39:00 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.