Pinnacle : DEALINGS IN SECURITIES BY THE PINNACLE HOLDINGS LIMITED FORFEITABLE SHARE PLAN

Pinnacle Holdings Limited

(Incorporated in the Republic of South Africa)

Registration number 1986/000334/06

Share Code: PNC

ISIN: ZAE000184149

('Pinnacle' or 'The Company')

DEALINGS IN SECURITIES BY THE PINNACLE HOLDINGS LIMITED FORFEITABLE SHARE PLAN ('FSP')

In compliance with Schedule 14.9 and paragraphs 3.63 to 3.74 of the Listings Requirements of the JSE Limited, shareholders are hereby advised of the following dealings in Pinnacle securities by the FSP:

NAME OF SCHEME	Pinnacle Holdings Limited Forfeitable Share Plan
TYPE OF SECURITIES	Shares
CLASS OF SECURITIES	Ordinary
DATE OF THE TRANSACTION	14 December 2016
CENTS PER SHARE	1749.81
NUMBER OF SECURITIES TRANSACTED	16 721
TOTAL RAND VALUE OF SECURITIES	R292 585.73
NATURE OF TRANSACTION	Purchase of securities to settle obligations of the FSP to participants(On-market transaction)
CLEARANCE OBTAINED	Yes

Midrand

15 December 2016

Sponsor

Deloitte & Touche Sponsor Services (Pty) Ltd