Change in nature of Directors’ holdings MONTAUK HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2010/017811/06) (Share code: MNK & ISIN: ZAE000197455) ("MNK" or "the company") CHANGE IN NATURE OF DIRECTORS’ HOLDINGS Notice is given, in terms of paragraphs 3.63 to 3.74 of the Listings Requirements of the JSE Limited’s Listing Requirements, of the following transactions in respect of the Company’s shares by directors: Name JA Copelyn Designation Non-executive Chairman Class of shares Ordinary Date of transaction 23 December 2020 Transaction price 84 42 cps Number of securities 6 705 348 Total value of transaction R566 065 478 Nature of transaction Transfer of an interest in an associate to another associate of Mr Copelyn (Off market transaction) Extent of director’s interest Indirect Beneficial (previously Indirect Beneficial) Name JA Copelyn Designation Non-executive Chairman Class of shares Ordinary Date of transaction 23 December 2020 Transaction price 84 42 cps Number of securities 7 154 770 Total value of transaction R604 005 683 Nature of transaction Change of interest in a subsidiary of a family trust, that was not an associate of Mr Copelyn, resulting in it becoming an associate (Off market transaction) Extent of director’s interest Indirect Beneficial (previously Indirect Non-beneficial) Name JA Copelyn Designation Non-executive Chairman Class of shares Ordinary Date of transaction 23 December 2020 Transaction price 95 50 cps Number of securities 3 000 000 Total value of transaction R286 500 000 Nature of transaction Sale of MNK shares held by a subsidiary of a family trust which is not an associate to an entity which is an associate of Mr Copelyn (Off market transaction) Extent of director’s interest Indirect Beneficial (previously Indirect Non-beneficial) Name TG Govender Designation Non-executive director Class of shares Ordinary Date of transaction 22 December 2020 Transaction price 95 50 cps Number of securities 247 685 Total value of transaction R23 653 918 Nature of transaction Sale of MNK shares held on a direct beneficial basis by Mr Govender to an associate of him (Off market transaction) Extent of director’s interest Indirect Beneficial (previously Direct Beneficial) Clearance in respect of par 3.66 of the JSE Listings Requirements was obtained. Cape Town 24 December 2020 Sponsor: Investec Bank Limited Date: 24-12-2020 07:30:00 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.