Result of Placing and Open Offer

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

30 August 2017

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

ATLAS MARA LIMITED

Results of Placing and Open Offer

Atlas Mara Limited ("Atlas Mara" or the "Company" and, together with its subsidiaries, the "Group") is pleased to announce the closing of the offer period for the recently launched Placing and the Open Offer on 29 August 2017. The Placing and Open Offer, together with the recently announced strategic investment from Fairfax Africa (comprising a Mandatory Convertible Bond and a Firm Placing) constitutes "the Strategic Financing". The Strategic Financing will support Atlas Mara's growth initiatives in the acquisition of additional equity interests in Union Bank of Nigeria Plc ("UBN") and scaling up the Markets and Treasury and Fintech business lines. Further terms of the Placing and Open Offer are set out in the Atlas Mara prospectus dated 10 August 2017 (the "Prospectus").

Under the Placing and Open Offer, the Company's existing shareholders have subscribed for 17,438,310 New Ordinary Shares in the capital of the Company. Fairfax Africa has accordingly subscribed for 13,672,801 New Ordinary Shares under the Placing and Open Offer. In combination with the New Ordinary Shares subscribed for by Fairfax Africa under the Strategic Financing, Fairfax Africa's shareholding in the capital of the Company will equal 71,728,356 ordinary Shares.

The New Ordinary Shares issued as a result of the Strategic Financing are expected to be admitted to trading on the Main Market of the London Stock Exchange PLC as a Standard Listing on 31 August 2017 at 8.00 a.m. The New Ordinary Shares will rank pari passu in all respects with the Existing Ordinary Shares.

Following admission of the New Ordinary Shares, the Company will have 172,258,735 ordinary shares in issue, of which 1,977,096 will continue to be held in treasury and 3,298,298 shares will continue to be held in escrow as part of the acquisition-related contingent consideration disclosed to the market on 1 July 2016.

Atlas Mara hereby confirms that the total number of voting rights in Atlas Mara will following Admission be 166,983,341. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Atlas Mara under the DTRs.

Bob Diamond, Chairman of the Board of Atlas Mara, said: "We are thrilled to have Fairfax Africa as our long-term partner. This transaction puts Atlas Mara in a very strong position to deliver on our strategic goals. We remain focused on execution and delivering on cost discipline and profitability."

Contact Details

InvestorsJohn-Paul Crutchley +971 4 275 6000 Kojo Dufu +1 212 883 4330

MediaTeneo Blue Rubicon, Anthony Silverman +44 20 3757 9231

Financial Advisers

Citigroup Global Markets Limited is acting as Financial Adviser and Corporate Broker to the Company.

About Atlas Mara

Atlas Mara Limited (ATMA.L) is a financial services institution listed on the London Stock Exchange. Its vision is to create sub-Saharan Africa's premier financial services institution through organic and inorganic growth by combining the best of global institutional knowledge with extensive local insights. With a presence in seven sub-Saharan countries, Atlas Mara aims to be a positive disruptive force in the markets in which we operate by leveraging technology to provide innovative and differentiated product offerings, excellent customer service and accelerate financial inclusion in the countries in which the Company operates. For more information, visit www.atlasmara.com. .

This announcement has been issued by and is the sole responsibility of Atlas Mara Limited.