Voluntary announcement: Securities held by clients of Allan Gray Proprietary Limited TSOGO SUN HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration No. 1989/002108/06) JSE Share Code: TSH ISIN: ZAE000156238 ("Tsogo" or “the Company”) VOLUNTARY ANNOUNCEMENT: Securities held by clients of Allan Gray Proprietary Limited (“Allan Gray”) Tsogo shareholders are referred to the 3 May 2019 SENS announcement by Tsogo regarding the cancellation and subsequent delisting of 42 876 046 ordinary shares of 2 cents each in the issued share capital of the Company (“the Cancellation and Delisting”). In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008 and section 3.83(b) of the JSE Limited Listings Requirements, shareholders are hereby advised that Tsogo has received formal notification from Allan Gray that directly as a result of the Cancellation and Delisting, Allan Gray’s clients prior and existing holdings in Tsogo have, as a percentage of the total issued ordinary shares in Tsogo, increased by 0.38%, such that the total interest in the total issued ordinary shares of Tsogo held by Allan Gray’s clients now amounts to 10.17% of the total issued ordinary shares of Tsogo. Fourways 14 May 2019 Sponsor Investec Bank Limited Date: 14/05/2019 03:40:00 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.