Directorate change: Dr D Konar Alexander Forbes Group Holdings Limited (Incorporated in the Republic of South Africa) (Registration number: 2006/025226/06) ISIN: ZAE000191516 Share Code: AFH ("the Company" or "Alexander Forbes" or "the Group") DIRECTORATE CHANGE: DR D KONAR In compliance with paragraph 3.59 of the JSE Limited Listings Requirements, shareholders are advised that Dr D (Len) Konar has submitted his resignation as an independent non-executive director on the Company’s Board with immediate effect. Dr Konar will therefore also resign from his position as Chairman of the Audit Committee. Dr Konar took the decision in view of recently published reports concerning developments at Steinhoff International Holdings NV ("Steinhoff"), where he serves as Deputy Chairman of the Supervisory Board. Dr Konar believes his decision to step down from the Board of Alexander Forbes to be the correct course of action for himself, Alexander Forbes, its clients and shareholders at this stage. He believes the time required of him in attending to matters at Steinhoff may potentially impede his capacity as a Board member of Alexander Forbes. The Company supports this decision. The Board wishes to thank Dr Konar for his immense contribution and counsel as an independent director since 1 February 2008, and wishes him well for the future. The Company will begin the process of identifying his replacement. Carina Wessels Group Company Secretary 8 December 2017 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 08/12/2017 04:14:00 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.