Statement by Remgro Limited

Accelerate inclusive economic transformation and oppose corruption and state capture

Remgro Limited received letters purported to be from the MK Inkululeko Foundation and the
ANC Youth League, during a protest at its offices, regarding comments by our chairman about
radical economic transformation.

In response, we take the opportunity to clarify Mr. Ruperts comment regarding radical
economic transformation. Mr. Rupert is in favour of accelerating more inclusive economic
transformation, but vehemently opposed to corruption and state capture.

By way of context, Business Partners was established in 1981 as the Small Business
Development Corporation, on the initiative of the Rupert family, to provide funding and
mentorship to small businesses. Since inception Business Partners has concluded more than
71 000 SME finance transactions, funded more than 33 000 SMEs, placed more than
R17 billion into the hands of SME entrepreneurs (of which 30% - 40% are previously
disadvantaged) and facilitated more than 600 000 jobs.

The Rupert family personally support many private initiatives such as feeding schemes,
learnerships and bursary funds worth hundreds of millions of rands in South Africa.

Remgro Group companies have undertaken various B-BBEE transactions that have created
billions of rands of value uplift in the hands of black shareholders. Corporate Social
Investment and Training spend of Remgro and the companies in which it invests, exceeded
R700 million during 2016 alone.

Remgro Group, founded by the Rupert family in the 1940s, is an investment holding
company. 67% of Remgros ordinary shares are owned by South Africans including the Public
Investment Corporation, which owns 15%.

End of statement