Voluntary Update on SUspension VISUAL INTERNATIONAL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2006/030975/06) (“the Company” or “Visual”) ISIN Code: ZAE000187407 Share code: VIS VOLUNTARY UPDATE ON SUSPENSION In accordance with paragraph 1.6 of the JSE Listings Requirements which deals with the suspension of a company’s securities by the Johannesburg Stock Exchange (“JSE”), shareholders are advised that the Company’s progress on implementing the transaction announced last year and the final restructure have taken longer than anticipated, along with the intended capital raise. Whilst the Company has been approached by a number of parties relating to intended investment and had signed agreements, implementation was outside the control of Visual, partly due to the economic conditions in the country. Accordingly, the audit for the year ended 28 February 2019 has been further delayed. However, Visual itself has implemented the disposal of Stellendale Junction, restructured and downsized the Company as well as settled a large number of the creditors during 2019. Once the audit has been completed, the Annual Report finalised and posted to shareholders and the Company has complied with the necessary JSE Listings Requirements, an application will be made for the lifting of the suspension. Johannesburg 13 January 2020 Designated Advisor Arbor Capital Sponsors Proprietary Limited Date: 13-01-2020 10:39:00 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.