Change in Strategic Vendor Partnership Status ISA Holdings Limited Incorporated in the Republic of South Africa (Registration number 1998/009608/06) Share code: ISA ISIN: ZAE000067344 (“ISA” or “the Company”) CHANGE IN STRATEGIC VENDOR PARTNERSHIP STATUS On 27 November 2019, the Company received a Notice of Demotion from one of its strategic vendor partners, Check Point Software Technologies Limited (“Check Point”), stating that they have decided to downgrade ISA’s partner status to an entry-level reseller, this after months of discussions between ISA and Check Point to repair the strained relationship that had developed between ISA, Check Point and their respective teams. While it is both ISA’s and Check Point’s intention to continue discussions with one another aimed at having the Company’s partnership level elevated once again, shareholders are advised that this demotion is likely to have a negative impact on ISA in the short term. The Company will closely monitor the effects on its performance and will timeously provide updates to stakeholders as the effects are better understood, including the effects on earnings in the current reporting period. ISA remains committed to working with leading vendors in the global information security market to assist its customers in mitigating the risks posed by the rapidly evolving information security threat landscape. Johannesburg 28 November 2019 Designated Adviser Merchantec Capital Date: 28-11-2019 03:41:00 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.