18 May 2021 9:03
Cautionary Announcement

 Distell Group Holdings Limited
 Incorporated in the Republic of South Africa
 Registration Number: 2016/394974/06
 ISIN: ZAE000248811
 Share Code: DGH
 (“Distell" or “the Company”)


Shareholders are advised that Heineken N.V. has approached Distell regarding the potential acquisition of the majority of Distell’s
business. The parties have entered into discussions which, if successfully concluded, may have an effect on the price of the
Company’s securities. Bearing in mind that there can be no certainty that an agreement will be reached, shareholders are advised
to exercise caution when dealing in their Distell securities until a further announcement is made.

18 May 2021

Rand Merchant Bank (a division of FirstRand Bank Limited)

Date: 18-05-2021 09:03:00
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