Update regarding West Coast Resources, the offer to shareholders and proposed delisting TRANS HEX GROUP LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1963/007579/06) Share code: TSX ISIN: ZAE000018552 (“Trans Hex” or the “Company” or the “Group”) UPDATE REGARDING WEST COAST RESOURCES, THE OFFER TO SHAREHOLDERS AND PROPOSED DELISTING Shareholders of Trans Hex (“Shareholders”) are referred to: - the announcements released on SENS on 30 September 2019 and 2 October 2019 (“Announcements”) as well as the circular to Shareholders dated 30 September 2019 (“Circular”), regarding an offer to all Shareholders, other than Cream Magenta 140 Proprietary Limited, Metcap 14 Proprietary Limited and RAC Investment Holdings Proprietary Limited (collectively, the “Consortium”), to acquire all of the issued share capital of the Company not held by the Consortium and excluding treasury shares, by way of two separate but concurrent offers comprising a scheme of arrangement and a general offer and the subsequent proposed delisting of the Company (“Transaction”); and - the announcement released on SENS on 18 October 2019, wherein Shareholders were advised that the major shareholder of West Coast Resources Proprietary Limited (“WCR”), together with another subsidiary of Trans Hex, Trans Hex Operations Proprietary Limited, lodged an application to the High Court (Western Cape Division) for WCR to be placed into provisional liquidation (“Liquidation Application” or “Liquidation Proceedings”). Shareholders are hereby advised that the Company will not oppose the Liquidation Application and that the general meeting to consider and, if deemed fit, to pass the resolutions relating to the Transaction, will still be convened on Tuesday, 29 October 2019, as indicated in the Announcements and Circular. Furthermore, Shareholders are advised that the report of the independent expert, as detailed in annexure 1 of the Circular (“Report”), includes, inter alia, a valuation of the Group in a scenario where WCR is placed under business rescue. Notwithstanding the fact that the Report refers to a business rescue scenario, the independent expert has confirmed that their opinion of fairness and reasonableness as set out in the Report is also applicable in the current scenario relating to the Liquidation Proceedings. Shareholders will be updated of any further developments pertaining to the Liquidation Application and the Transaction in due course. Cape Town 23 October 2019 Sponsor One Capital Corporate Advisor and Transaction Sponsor to Trans Hex Questco Proprietary Limited Independent Expert Merchantec Capital Date: 23/10/2019 01:48:00 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.