BAT 201703200019A Dealings in securities in terms of the company’s ordinary share buyback programme Brait SE (Registered in Malta as a European Company) (Registration No.SE1) Share code: BAT ISIN: LU0011857645 Bond code: WKN: A1Z6XC ISIN: XS1292954812 (“Brait”, “the Company”) DEALINGS IN SECURITIES IN TERMS OF THE COMPANY’S ORDINARY SHARE BUYBACK PROGRAMME The Company has purchased shares in accordance with the Company’s ordinary share buyback programme announced to the market on 16 August 2016 (the “announcement”). As detailed in this announcement, shares purchased are held to reduce the capital of the Company or to meet the obligations of the Convertible Bonds as they become due. All purchases detailed below meet the requirements of the European Union regulations, including the pre-set parameters detailed in the announcement in accordance with Market Abuse Regulations. Purchaser Name : Brait Investment Trust * Nature of transaction : On market purchases of Brait SE ordinary shares Place of transaction : RSA on the Johannesburg Stock Exchange Transaction Dates Aggregate Price per share Aggregate Volume 10 March 2017 R74.16 142,769 13 March 2017 R74.28 83,766 14 March 2017 R74.76 56,460 15 March 2017 R74.60 5,569 16 March 2017 R75.00 23,250 Total purchased R74.37 311,814 * Brait Investment Trust is a Malta Trust of which Brait SE is the beneficiary. Further detail reflecting all share purchase transactions on a disaggregated basis is available on the Brait website www.brait.com in the “Market announcements” section. Malta 20 March 2017 Brait’s primary listing is on the Euro MTF market of the Luxembourg Stock Exchange and its secondary listing is on the Johannesburg Stock Exchange. Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 20/03/2017 12:00:00 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.