Pinnacle : DEALINGS IN SECURITIES BY THE PINNACLE HOLDINGS LIMITED FORFEITABLE SHARE PLAN (“FSP”)

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	20 January 2017	(1)
CENTS PER SHARE	1849.92	(1)
NUMBER OF SECURITIES TRANSACTED	93 149	(1)
TOTAL RAND VALUE OF SECURITIES	R1 723 181.98	(1)
DATE OF THE TRANSACTION	24 January 2017	(2)
CENTS PER SHARE	1 850.00	(2)
NUMBER OF SECURITIES TRANSACTED	44 907	(2)
TOTAL RAND VALUE OF SECURITIES	R830 779.50	(2)
DATE OF THE TRANSACTION	25 January 2017	(3)
CENTS PER SHARE	1 841.43	(3)
NUMBER OF SECURITIES TRANSACTED	250 806	(3)
TOTAL RAND VALUE OF SECURITIES	R4 618 416.93	(3)
DATE OF THE TRANSACTION	26 January 2017	(4)
CENTS PER SHARE	1 850.00	(4)
NUMBER OF SECURITIES TRANSACTED	7 500	(4)
TOTAL RAND VALUE OF SECURITIES	R138 750.00	(4)
NATURE OF TRANSACTIONS	Purchase of securities to settle obligations of the FSP to participants(On-market transaction)
NATURE OF INTEREST	Direct Beneficial
CLEARANCE OBTAINED	Yes

Midrand

27 January 2017

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