Extension of dates of Special Dividend Declaration BOWLER METCALF LIMITED (Registration number 1972/005921/06) Share code: BCF ISIN number: ZAE000030797 (“Bowler Metcalf” or “the Company”) EXTENSION OF DATES OF SPECIAL DIVIDEND DECLARATION Shareholders are referred to the announcement published on SENS on 6 November 2018 regarding the Special Dividend Declaration. The directors of Bowler Metcalf would like to inform shareholders that, due to a delay in obtaining the approval from the South African Reserve Bank for foreign shareholders, the Company therefore extends the dates for the Special Dividend Declaration. The dates therefore will be as follows: 2018 Finalisation date Tuesday, 4 December Last day to trade in Bowler Metcalf ordinary shares in order to Tuesday, 11 December qualify to participate in the Special Dividend Declaration on Shares start trading “ex” dividend on Wednesday, 12 December Record date for participation in the Special Dividend Declaration at Friday, 14 December the close of trade on Special Dividend payable to shareholders on Tuesday, 18 December Share certificates may not be dematerialised or re-materialised between Wednesday, 12 December 2018 and Friday, 14 December 2018, both days inclusive. All the other conditions remain the same. CAPE TOWN 13 November 2018 SPONSOR Arbor Capital Sponsors Proprietary Limited Date: 13/11/2018 05:37:00 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.