Comair : SENS - 05 February 2021 – Disclosure of Acquisition of Disposal of Securities

Comair Limited

(Incorporated in the Republic of South Africa)

(Registration Number: 1967/006783/06)

ISIN: ZAE00002983

Share Code: COM

("Comair" or "the Company")

DISCLOSURE OF ACQUISITION AND DISPOSAL OF SECURITIES

In accordance with section 122 (3)(b) of the Companies Act No. 71 of 2008, as amended, and section 3.83(b) of the Listings Requirements of the JSE Limited, shareholders are hereby advised that the Company has received formal notification in the prescribed form of the following movement in securities of the Company:

Nedbank Limited (acting through its Nedbank Corporate and Investment Banking division) has, in aggregate, acquired a 7.5% interest in the securities of the Company.

K2020704995 (South Africa) Proprietary Limited has, in aggregate, disposed of an interest in the securities of the Company, such that the total interest in the securities of the Company held by K2020704995 (South Africa) Proprietary Limited amounts to 89% of the total issued share capital of the Company.

Bonaero Park

5 February 2021

Sponsor

PSG Capital

IMPORTANT NOTICE TO FOREIGN SHAREHOLDERS AND PROSPECTIVE INVESTORS

FOREIGN SHAREHOLDERS AND PROSPECTIVE INVESTORS IN COMAIR LIMITED ("COMAIR") SHOULD NOTE THAT, IN ORDER TO ENABLE COMAIR (AS A LICENSED AIR SERVICES OPERATOR IN SOUTH AFRICA) TO REMAIN COMPLIANT WITH THE FOREIGN OWNERSHIP RESTRICTION CONTAINED SECTIONS 16(4)(c) AND 19(a) OF THE AIR SERVICES LICENSING ACT, NO. 115 OF 1990, THE VOTING RIGHTS OF FOREIGN SHAREHOLDERS MAY BE DECREASED PROPORTIONATELY SUCH THAT THE VOTING RIGHTS OF FOREIGN SHAREHOLDERS DO NOT, IN AGGREGATE, EXCEED 24.99%. FOREIGN SHAREHOLDERS AND PROSPECTIVE INVESTORS ARE REFERRED TO THE COMAIR'S MEMORANDUM OF INCORPORATION AND WEBSITE (www.comair.co.za) FOR FURTHER DETAILS. IF FOREIGN SHAREHOLDERS OR PROSPECTIVE INVESTORS ARE IN ANY DOUBT AS TO WHAT ACTION TO TAKE THEY SHOULD SEEK ADVICE FROM THEIR BROKER, ATTORNEY OR OTHER PROFESSIONAL ADVISER.

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