BARLOWORLD LIMITED - Detailed cautionary regarding Barloworlds proposed disposal of an effective 50% of its motor retail division

            
BAW BAWP BAW29 BAW31 BAW21 BAW34 BAW33 BC127 BAW30 BAW22 BAW28
Detailed cautionary regarding Barloworlds proposed disposal of an effective 50% of its motor retail division

Barloworld Limited
(Incorporated in the Republic of South Africa)
(Registration number 1918/000095/06)
(Income Tax Registration number 9000/051/71/5)
(Share code: BAW)
(JSE ISIN: ZAE000026639)
(Share code: BAWP)
(Bond issuer code: BIBAW)
(JSE ISIN: ZAE000026647)
(Namibian Stock Exchange share code: BWL)
("Barloworld or the Company" or the Barloworld Group)

DETAILED CAUTIONARY ANNOUNCEMENT REGARDING BARLOWORLDS PROPOSED DISPOSAL OF AN
EFFECTIVE 50% OF ITS MOTOR RETAIL DIVISION

Shareholders are referred to the announcements released by Barloworld on SENS on 30 June 2020 and 30 November
2020 relating to the release of the Companys interim and final results for the six months ended 31 March 2020 and year
ended 30 September 2020, respectively (Results Announcements). The Results Announcements noted that with
regards to the dealership portfolio housed within the Automotive and Logistics division, looking forward, the assessment
of the long-term fundamentals of our businesses is a focus area in our ongoing portfolio review, including the review
of the dealership portfolio and options around the optimal deployment of capital in Motor Retail remain under due
consideration.

Given the above strategy articulated in the Results Announcements, Barloworld shareholders are hereby advised that
Barloworld South Africa Proprietary Limited, a wholly-owned subsidiary of Barloworld, has entered into discussions with
NMI Durban South Motors Proprietary Limited (NMI-DSM), a joint venture of the Barloworld Group in which Barloworld
holds a 50% interest alongside the Akoo family (JV Partners), to dispose of the Barloworld Groups motor retail
business as a going concern. These discussions are gaining momentum, and subject to Board approval, are expected
to be concluded in the next few months, following which a detailed terms announcement will be published.

As Barloworld has entered into negotiations which may have a material effect on the price of the Companys securities,
shareholders are advised to exercise caution when dealing in these securities until a further announcement is made.

Johannesburg
9 December 2020

Equity and Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 09-12-2020 07:05:00
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