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	3 February 2017
CENTS PER SHARE	1850.00
NUMBER OF SECURITIES TRANSACTED	84 075
TOTAL RAND VALUE OF SECURITIES	R1 555 387.50
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

9 February 2017

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