Correction Announcement Adcorp Holdings Limited (Incorporated in the Republic of South Africa) Registration number 1974/001804/06) Share code: ADR ISIN: ZAE000000139 (“Adcorp” or “Adcorp Group” or “the Group”) Correction Announcement Ordinary Shares Shareholders are referred to the announcement released on SENS on 20 May 2019 which contained the ordinary shares in issue disclosed in the Provisional Summarised Consolidated financial statements for the year ended 28 February 2019 (“financial statements”). The Shareholders are advised that the number of shares disclosed were incorrectly stated at 109 043 442 in the section Capital allocation strategy and dividend payment. The correct number of shares should be 109,954,675. Headline Earnings Shareholders are also referred to the same announcement which contained the calculation of the headline earnings disclosed in the financial statements. Shareholders are advised that the headline earnings and headline earnings per share of R254,622,000 and 233,5 cents respectively, were incorrectly calculated The correct calculation is R267,116,000 for the headline earnings and 245,0 cents for headline earnings per share. This resulted in a 5% variance on both the headline earnings and headline earnings per share. 2019 - Corrected 2019 - Reported R'000 R'000 Continuing operations Profit for the year 261,850 261,850 Profit on sale of property and equipment (803) (803) Impairment of intangible assets, goodwill and bonds 6,821 (6,821) Profits from the sale of associate (574) 574 Headline earnings 267,294 254,800 Headline earnings per share – cents 245.1 233.7 Diluted headline earnings per share – cents 239.2 228.0 Reconciliation of headline earnings from total operations Profit for the year 261,672 261,672 Impairment of investments, goodwill and loans 6,821 (6,821) Profit on sale of property and equipment (803) (803) Profits from the sale of associate (574) 574 Headline earnings 267,116 254,622 Headline earnings per share – cents 245.0 233.5 Diluted headline earnings per share – cents 239.0 227.8 Bryanston 23 May 2019 Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd Date: 23/05/2019 04:00:00 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.