PSG Konsult Credit Rating Affirmed With Stable Outlook PSG KONSULT LIMITED (Incorporated in the Republic of South Africa) Registration Number: 1993/003941/06 JSE Share Code: KST NSX Share Code: KFS SEM Share Code: PSGK.N0000 ISIN Code: ZAE000191417 LEI: 378900ECF3D86FD28194 (“PSG Konsult” or “the Company”) PSG KONSULT TREASURY LIMITED (Incorporated in the Republic of South Africa) Registration Number: 2014/196582/06 Company Code: BICAP ISIN Code: ZAG000145285 PSG KONSULT CREDIT RATING AFFIRMED WITH STABLE OUTLOOK Shareholders are advised that the rating agency Global Credit Rating Company (“GCR”) has reviewed the ratings of PSG Konsult under the Appendix Criteria for Rating Asset Managers, November 2019. PSG Konsult’s South African long and short-term issuer ratings have been affirmed at A(ZA) and A1(ZA), respectively, with a Stable outlook. GCR states, “The ratings of PSG Konsult are underpinned by prudent risk management, with a large quantum of cash and cash equivalents supporting a strong and liquid balance sheet. This is complimented by sound cash generative capacity, no interest bearing debt and a strong group regulatory solvency position, contributing to a very strong cash flow and leverage assessment. These strengths are partially offset by moderate earnings and a business profile that is weighed down by the lack of market scale, although GCR positively factors in revenue diversification and a supportive distribution network.” Tyger Valley 31 July 2020 JSE Sponsor: PSG Capital Proprietary Limited Joint independent JSE sponsor: UBS South Africa Proprietary Limited NSX Sponsor: PSG Wealth Management (Namibia) Proprietary Limited, member of the Namibian Stock Exchange SEM authorised representative and SEM Sponsor: Perigeum Capital Ltd This notice is issued pursuant to the JSE Limited Listings Requirements, the SEM Listing Rules and the Mauritian Securities Act 2005. The board of directors of PSG Konsult accepts full responsibility for the accuracy of the information contained in this communiqué. Date: 31-07-2020 09:00:00 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.