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Results of the Annual General Meeting

EFORA ENERGY LIMITED

(Formerly SacOil Holdings Limited)

(Incorporated in the Republic of South Africa)

(Registration number 1993/000460/06)

JSE Share Code: EEL

ISIN:  ZAE000248258

(“Efora” or “the Company”)

RESULTS OF THE ANNUAL GENERAL MEETING

Shareholders are hereby advised that at the annual general meeting (“AGM”) of the Company held at 11h00, on Tuesday, 25 September 2018 at 1st Floor, 12 Culross Road, Bryanston (“AGM”), all of the resolutions were passed by the requisite majorities of the Company’s shareholders.

Details of the results of the voting at the AGM are as follows:

Shareholders are further advised that ordinary resolutions number 6 and 7 were modified to limit the number of shares placed under the authority of the directors and those that can be issued for cash to 5%, respectively.

Resolutions proposed at the AGMVotes for resolution as a percentage of total number of shares voted at AGMVotes against resolution as a percentage of total number of shares voted at AGMNumber of shares voted at AGMNumber of shares voted at AGM as a percentage of shares in issueNumber of shares abstained as a percentage of shares in issue
Ordinary resolution number 1: Reappointment of external auditors99.996%0.004%1 000 765 57790.66%0.01%
Ordinary resolution number 2: Confirmation of appointment of Ignatius Sehoole99.995%0.005%1 000 760 57790.66%0.01%
Ordinary resolution number 3: Confirmation of appointment of Thuto Masasa99.995%0.005%1 000 760 57790.66%0.01%
Ordinary resolution number 4.1: Re-election of

Audit and Risk Committee

Members – Mr Ignatius Sehoole

99.995%0.005%1 000 760 57790.66%0.01%
Ordinary resolution number 4.2: Re-election of

Audit and Risk Committee

Members – Ms Thuto Masasa

99.995%0.005%1 000 760 57790.66%0.01%
Ordinary resolution number 4.3: Re-election of

Audit and Risk Committee

Members – Mr Patrick Mngconkola

99.995%0.005%1 000 760 57790.66%0.01%
Ordinary resolution number 5.1: Endorsement of remuneration policy99.55%0.45%1 000 734 47890.66%0.01%
Ordinary resolution number 5.2: Endorsement of remuneration implementation report99.995%0.005%1 000 760 57790.66%0.01%
Ordinary resolution number 6: General authority to issue shares99.55%0.45%1 000 765 57790.66%0.01%
Ordinary resolution number 7: General authority to issue shares for cash99.99%0.01%1 000 765 07790.66%0.01%
Ordinary resolution number 8: Authority

to sign all required

documents

99.995%0.005%1 000 764 47890.66%0.01%
Special resolution number 1: General

authority to acquire

(repurchase) shares

99.55%0.45%1 000 765 57790.66%0.01%
Special resolution number 2: Remuneration of Non-executive Directors99.99%0.01%1 000 764 47890.66%0.01%
Special resolution number 3: Financial assistance for acquisition of shares in a related or inter- related company99.99%0.01%1 000 760 57790.66%0.01%
Special resolution number 4: Intercompany financial assistance99.99%0.01%1 000 760 57790.66%0.01%

Note

Total number of shares in issue as at the date of the AGM was 1 103 834 635.

Johannesburg

26 September 2018

Sponsor

PSG Capital

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IMPORTANT NOTICE TO SHAREHOLDERS REGARDING THEIR SHARES

If you are in any doubt as to what action you should take, consult your CSDP, Broker, Banker, Legal Adviser, Accountant or other professional advisers immediately.

Or visit our Shareholder Information page for more information regarding your shareholding and share certificate.