Response to Sky News report on Office Truworths International Limited (Incorporated in the Republic of South Africa) (Registration number: 1944/017491/06) JSE Code: TRU NSX Code: TRW ISIN: ZAE000028296 (“Truworths” or the “company” or the “Group”) RESPONSE TO SKY NEWS REPORT ON OFFICE Truworths notes a media report by Sky News, a British news organisation, on Monday, 1 July 2019 wherein it was stated that, inter alia, the Group’s United Kingdom (“UK”) subsidiary, Office Holdings Limited (“Office”), has appointed advisors to consider restructuring options. The Group would like to respond to this media report as follows: Office has circa £45 million of debt which is due to be repaid with a significant portion of the debt to be settled through a lump sum payment at maturity in December 2020. In light of the depressed retail trading environment currently being experienced in the UK, Office has entered into discussions with the relevant lenders regarding potential debt restructuring options. To assist in this regard, Office and the lenders have appointed Alvarez & Marsal Europe LLP and Deloitte LLP, respectively, as their professional advisors. Though it is expected that the UK and Office will continue to experience a difficult trading environment in the medium term, the company’s management and the board of directors believe that the discussions with the lenders and any resultant debt restructuring will not have a material impact on the Group’s operations in South Africa and the rest of Africa. 2 July 2019 Cape Town Sponsor in South Africa One Capital Sponsor in Namibia Merchantec Capital Date: 02/07/2019 08:40:00 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.