Notice in terms of Section 45(5) of the Companies Act No 71 of 2008 IMPERIAL LOGISTICS LIMITED Incorporated in the Republic of South Africa (Registration number: 1946/021048/06) ISIN: ZAE000067211 JSE Share Code: IPL (the Company) NOTICE IN TERMS OF SECTION 45(5) OF THE COMPANIES ACT NO 71 OF 2008 1. On 26 November 2019 and pursuant to special resolutions adopted by the shareholders of the Company on 30 October 2019 in terms of section 45(5)(3)(a)(ii) of the Companies Act No 71 of 2008 (the Act) approving same and in terms of section 45(2) of the Act, the Board of the Company (the Board) adopted the required resolutions to authorise the Company to enter into: 1.1 a ZAR revolving credit facility agreement and a BWP term loan facility with certain local banks to refinance existing facilities; and 1.2 a USD multicurrency revolving credit facility agreement with certain international banks to refinance an existing USD facility, and to provide financial assistance to various of its subsidiaries by, inter alia, guaranteeing the indebtedness of such subsidiaries under the aforementioned facilities, in the normal course of business. 2. The Board has satisfied itself that the terms under which the financial assistance is to be given are fair and reasonable, and that the Company would satisfy the solvency and liquidity test after extending such facilities, in terms of section 45 read with section 4 of the Act. Shareholders are advised that the total facility value, when utilised, will exceed 1/10th of 1% of the Company’s net worth as at the date of the Board meeting of 26 November 2019. By order of the Board RA Venter Company Secretary Bedfordview 10 December 2019 JSE Sponsor: Merrill Lynch South Africa (Pty) Limited Date: 10-12-2019 04:04:00 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.