SABVEST LIMITED - General repurchase of shares and cancellation of shares

General repurchase of shares and cancellation of shares

SABVEST LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1987/003753/06
Ordinary share code: SBV and ISIN: ZAE000006417
N ordinary share code: SVN and ISIN: ZAE000012043
("Sabvest" or "the Company")

GENERAL REPURCHASE OF SHARES AND CANCELLATION OF SHARES

Shareholders are advised that Sabvest has directly purchased 200 000 N shares through the market
under its general repurchase authority and these shares have accordingly been cancelled.

The details are as follows:

Dates of Repurchase                                                                      6 December 2019
Total number of shares repurchased                                                      163 374 N shares
Total value of shares repurchased                                              R5 352 622 (before costs)
Average purchase price                                                                     3276.30 cents
Highest price paid per share repurchased                                                      3400 cents
Lowest price paid per share repurchased                                                       3200 cents

Dates of Repurchase                                                                      9 December 2019
Total number of shares repurchased                                                       36 626 N shares
Total value of shares repurchased                                              R1 264 098 (before costs)
Average purchase price                                                                     3451.37 cents
Highest price paid per share repurchased                                                     3 500 cents
Lowest price paid per share repurchased                                                      3 400 cents

These transactions result in a total of 550 000 N shares having been repurchased and cancelled in 2019.

Shareholders are referred to the dual share simplification announcement released on SENS on 28 October
2019. If the scheme is approved by shareholders, the number of extra shares to be issued in the
implementation thereof is 508 030 shares. The Board has effected the repurchases and cancellations
referred to herein in a number that exceeds this small expected dilution.

Sandton
10 December 2019

Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

Date: 10-12-2019 03:49:00
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