Ecsponent subsidiary, Ecsponent Financial Services Proprietary Limited: Suspension of licence ECSPONENT LIMITED Incorporated in the Republic of South Africa Registration number: 1998/013215/06 JSE Code: ECS - ISIN: ZAE000179594 Debt Issuer Code: ECSD (“the Company” or “Ecsponent”) ECSPONENT SUBSIDIARY, ECSPONENT FINANCIAL SERVICES PROPRIETARY LIMITED: SUSPENSION OF LICENCE The Company advises preference and ordinary shareholders (collectively, “Security Holders”) that its subsidiary, Ecsponent Financial Services Proprietary Limited (“EFS”) has today received a notification from the Financial Services Conduct Authority (“FSCA”) of the temporary suspension of its license as a financial service provider for a period of two weeks (until 2 June 2020), or until the FSCA has communicated its final decision with reference to the deferred decisions, whichever comes last. The temporary suspension is subject to EFS not conducting any new business and not offering any replacement of a financial product except for a financial product that arises from the restructuring offer by Ecsponent as per the announcement released on SENS on 28 April 2020 advising the Security Holders that a circular had been distributed to the Company’s Security Holders, setting out details relating to the proposed amendments to the Company’s Memorandum of Incorporation (“MOI Amendments”) and containing notices of general meetings to be held on 27 May 2020. Reference is also made to the announcement released on SENS on 19 May 2020 relating to the MOI Amendments which may result in changes to the status and listing of the current preference shares and/or the conversion of the current preference shares to new ordinary shares. EFS will therefore continue to interact with all preference shareholders. A non-routine investigation by the FSCA involving EFS has been ongoing for a period of almost 7 years. Preliminary findings have been issued by the FSCA and EFS has submitted comprehensive replies in respect thereof to the FSCA. Barring the temporary suspension as aforesaid, the final outcome of the deliberations remains uncertain and, as a result, no further information is disclosed at this time. EFS and the FSCA will ensure prompt resolution to the matter so as to act in the best interests of all stakeholders. Shareholders will immediately be informed of any further developments and further indications from the FSCA as and when they become available. 20 May 2020 Pretoria Sponsor to Ecsponent Questco Corporate Advisory (Pty) Ltd Date: 20-05-2020 04:08:00 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.