Invitation to shareholders Re: The Company’s Remuneration Policy & Implementation Report

At the Company’s AGM on 26 June 2018, more than 25% (29.6%) of the votes were cast against the non‐ binding advisory vote number 1. In keeping with the recommendations of the King IV Report on Corporate Governance for South Africa and paragraph 3.84(k) of the JSE Listings Requirements, shareholders are hereby invited to raise their concerns or recommendations on the Remuneration Policy (as set out within the Remuneration Committee Report), by means of a telephone conference with the Company Chairman, Brian Gilbertson, Lead Independent Non‐Executive Director, Lumkile Mondi and chairman of the Remuneration Committee, Kwape Mmela, to be held at 3pm SA time on 22 August 2018.