Increase in Issued Share Capital - Initial Payment in Terms of the Huso Transaction TRUSTCO GROUP HOLDINGS LIMITED Incorporated in the Republic of Namibia (Registration number 2003/058) Registered as an external company in South Africa (External registration number 2009/002634/10) NSX share code: TUC JSE share code: TTO ISIN Number: NA000A0RF067 (“Trustco” or “the Company”) INCREASE IN ISSUED SHARE CAPITAL: INITIAL PAYMENT IN TERMS OF THE HUSO TRANSACTION Trustco shareholders (“Shareholders”) are referred to the circulars dated 11 September 2015 and 11 May 2017 and the announcements published on the Stock Exchange News Service (“SENS”) on 24 July 2018 and 4 September 2018 and definitions therein relating to the Huso Transaction respectively. Shareholders were advised that after receiving a mining license, valid for a 15 (fifteen) year period the Huso Transaction, as amended, has become effective and unconditional and as such the Huso Transaction has closed on 31 August 2018. Shareholders are further referred to the terms of the Huso Transaction where the total purchase consideration shall be payable by way of an issue of Trustco shares (“Shares”) to the Seller or nominee. Shareholders are herewith advised that the initial payment has been issued to the Seller’s nominee on 21 September 2018 in terms of the Huso transaction. Trustco has therefore issued and listed an additional 143 300 000 Shares with effect from the commencement of business today, at an issue price of R4.69 per Share. Following the listing of the additional securities, there will be 970 442 090 Shares in issue. Windhoek, Namibia 21 September 2018 Amanda Bruyns Company Secretary: Trustco Group Holdings Limited JSE Sponsor Vunani Corporate Finance NSX Sponsor Simonis Storm Securities Proprietary Limited Date: 21/09/2018 11:40:00 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.