General Repurchase of Shares Adapt IT Holdings Limited Incorporated in the Republic of South Africa (Registration number 1998/017276/06) Share code: ADI ISIN: ZAE000113163 (“Adapt IT” or ”the Company”) GENERAL REPURCHASE OF SHARES 1. INTRODUCTION In compliance with paragraph 11.27 of the Listings Requirements of JSE Limited, the board of directors of Adapt IT (“the Board”) hereby advises shareholders that Adapt IT Proprietary Limited, a wholly owned subsidiary of Adapt IT, has cumulatively repurchased 13 344 222 Adapt IT ordinary shares, representing 8.31% of the Company’s issued share capital as at the time that the general authority was granted by shareholders at the annual general meeting (“AGM”) held on 23 November 2018. On 7 February 2019, shareholders were advised that Adapt IT Proprietary Limited had cumulatively repurchased 4 836 650 Adapt IT ordinary shares. 8 026 607 Adapt IT ordinary shares were subsequently cancelled and delisted on 28 February 2019 (“Cancellation”). A further 8 507 572 Adapt IT ordinary shares were repurchased during the period between 7 February 2019 and 20 May 2019 (“Repurchase”). 2. DETAILS OF THE REPURCHASE Details of the Repurchase are as follows: Date of repurchases: 7 February 2019 to 20 May 2019 Number of shares repurchased: 8 507 572 Lowest repurchase price per share: 498 cents Highest repurchase price per share: 649 cents Volume weighted average price: 569 cents Total value of shares repurchased: R48 386 854 The Repurchase was effected through the order book operated by the JSE and done without any prior understanding or arrangement between the Company and the counter parties. Before the Repurchase Adapt IT Proprietary Limited held 14 770 350 shares as treasury shares, representing 9.20% of the Company’s issued share capital. After the Repurchase, and taking into account the cancellation, Adapt IT Proprietary Limited holds 15 251 315 shares as treasury shares, representing 10% of the Company’s issued share capital. Following the Repurchase, the extent of the general authority to repurchase shares outstanding is 16 560 565 ordinary shares, representing 10.32% of the total issued share capital of the Company at the time the authority was granted. 3. OPINION OF THE BOARD The Board has considered the effect of the Repurchase and is of the opinion that, for a period of 12 months following the date of this announcement: - the Company will be able, in the ordinary course of business, to repay its debts; - the assets of the Company will be in excess of the liabilities of the Company; - the Company’s ordinary capital and reserves will be adequate for ordinary business purposes; and - the Company will have adequate working capital for ordinary business purposes. 4. FINANCIAL INFORMATION PERTAINING TO THE GENERAL REPURCHASE The impact of the Repurchase has been calculated and the Board can confirm that the implementation of the Repurchase is limited to a reduction in cash of R48 386 854 as the Repurchase was funded from the Company’s available cash resources. Johannesburg 15 July 2019 Sponsor Merchantec Capital Date: 15/07/2019 05:26:00 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.