DIRECTORS RESPONSIBILITY STATEMENT

FOR THE YEAR ENDED 30 JUNE 2018

The Directors are responsible for the preparation, integrity and fair presentation of the Annual Financial Statements of the Group as presented on pages 20 to 85. These Annual Financial Statements have been prepared in accordance with IFRS, the Companies Act and the JSE Limited Listings Requirements; and include amounts based on judgements and estimates made by management.

The Directors are also responsible for the Group's system of internal financial controls. These controls are designed to provide reasonable, but not absolute, assurance as to the reliability of the Annual Financial Statements, and to adequately safeguard, verify and maintain accountability of the assets and to prevent and detect misstatement and loss.

Based on results of the reviews of the internal financial controls conducted by the Internal Audit function during the 2018 financial year and considering the information and explanations provided by management and discussions with the external auditor on the results of the audit, and assessed by the Audit Committee, nothing has come to the attention of the Directors to indicate that any material breakdown in the functioning of the overall system of controls has occurred during the period under review.

The going concern basis has been adopted in preparing the Annual Financial Statements. The Directors have no reason to believe that the Group will not be a going concern in the foreseeable future based on review of forecasts and budgets and available cash resources. The Annual Financial Statements support the viability of the Company and the Group. Furthermore, the Group has adequate cash resources which are in excess of the Group's funding requirements for the foreseeable future.

The Financial Statements have been audited by PricewaterhouseCoopers Inc. ("PwC") which is an independent auditing firm, which was given unrestricted access to all financial records and related data, including minutes of all meetings of the shareholders, the Board of Directors and Committees of the Board. The Directors believe that all representations made to the auditor during the audit were valid and appropriate.

The audit opinion of PricewaterhouseCoopers Inc. appears on pages 13 to19.

The Board acknowledges its responsibility to ensure the integrity of the Annual Financial Statements. The Directors confirm that they have collectively reviewed the content of this report and believe it addresses material issues and is a fair presentation of the performance of the Group.

The Annual Financial Statements have been approved by the Board of Directors and signed on 12 September 2018.

• Dr Anna Mokgokong
  Chairperson

• Hannes Boonzaaier
  Group Chief Financial Officer

• Antoine van Buuren
  Group Chief Executive Officer