Conclusion of Executive Option Agreements HUGE GROUP LIMITED (Registration number 2006/023587/06) Share code: HUG ISIN: ZAE000102042 (Huge or the Company) CONCLUSION OF EXECUTIVE OPTION AGREEMENTS Shareholders of Huge (Shareholders) are advised that the Company has concluded Executive Option Agreements with James Herbst (the Chief Executive Officer), Andrew Openshaw (the Chief Operating Officer) and Samantha Sequeira (the Chief Financial Officer), collectively, the Executive Directors. The Executive Option Agreements were concluded on 29 August 2019 (the Effective Date) and are subject to the approval of Shareholders. Each Executive Option Agreement contemplates the granting by the Company to the Executive Director of a right to subscribe for a number of ordinary shares in the Company at a strike price equal to the 30-day volume-weighted average price (VWAP) of a Huge Group ordinary share on the Effective Date (the Options). The Options contemplated in each Executive Option Agreement, if approved by Shareholders, will vest in the respective Executive Director in three equal annual tranches commencing on 1 March 2020. Each Executive Option Agreement is subject to Shareholder approval on the following basis: • The passing of an ordinary resolution by 75% of the Shareholders present and voting at a general meeting of the Shareholders; and • regulatory approvals required by the JSE Limited (the JSE). In terms of paragraphs 3.63 to 3.74 of the JSE’s Listings Requirements, the conclusion of each Executive Option Agreement is regarded as a director’s dealing. In this regard, the following directors’ dealings have taken place. Approval to undertake each director’s dealing was granted by the Lead Independent Non-Executive Director of the Company, Mr Steve Tredoux: Name of director: James Herbst Name of company: Huge Group Limited Type of director: Executive director Nature of interest: Direct beneficial Class of securities: Ordinary shares Nature of transaction: Acceptance of options granted to subscribe for ordinary shares in terms of the Executive Option Agreements Number of ordinary shares 7 500 000 underlying the Options: Option strike price: R5.31 (Huge’s 30 day VWAP at 29 August 2019) Market value of transaction: R39 825 000 Vesting and expiry dates: In three annual equal tranches commencing on 1 March 2020, with respective expiry dates of each annual tranche being the last day of February 2025, February 2026 and February 2027 Clearance to deal obtained: Yes On/off market transaction: N/A Name of director: Andrew Openshaw Name of company: Huge Group Limited Type of director: Executive director Nature of interest: Direct beneficial Class of securities: Ordinary shares Nature of transaction: Acceptance of options granted to subscribe for ordinary shares in terms of the Executive Option Agreements Number of ordinary shares 7 500 000 underlying the Options: Option strike price: R5.31 (Huge’s 30 day VWAP at 29 August 2019) Market value of transaction: R39 825 000 Vesting and expiry dates: In three annual equal tranches commencing on 1 March 2020, with respective expiry dates of each annual tranche being the last day of February 2025, February 2026 and February 2027 Clearance to deal obtained: Yes On/off market transaction: N/A Name of director: Samantha Sequeira Name of company: Huge Group Limited Type of director: Executive director Nature of interest: Direct beneficial Class of securities: Ordinary shares Nature of transaction: Acceptance of options granted to subscribe for ordinary shares in terms of the Executive Option Agreements Number of ordinary shares 750 000 underlying the Options: Option strike price: R5.31 (Huge’s 30 day VWAP at 29 August 2019) Market value of transaction: R3 982 500 Vesting and expiry dates: In three annual equal tranches commencing on 1 March 2020, with respective expiry dates of each annual tranche being the last day of February 2025, February 2026 and February 2027 Clearance to deal obtained: Yes On/off market transaction: N/A Johannesburg 30 August 2019 Sponsor Questco Corporate Advisory (Pty) Ltd Date: 30/08/2019 03:30:00 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.