Turnstar : FURTHER PRESS RELEASE IN RESPECT OF ARTICLES HEADED “ABDOOLA, TURNSTAR IN ANOTHER DUBAI SHADY DEAL?” AND “BOTSWANA’S FORBES RICHEST MEN BURN THEIR FINGERS IN DUBAI SHADY DEAL” IN THE SUNDAY STANDARD DATED DECEMBER 12 -18, 2021

FURTHER PRESS RELEASE IN RESPECT OF ARTICLES HEADED "ABDOOLA, TURNSTAR IN ANOTHER DUBAI SHADY DEAL?" AND "BOTSWANA'S FORBES RICHEST MEN BURN THEIR FINGERS IN DUBAI SHADY DEAL" IN THE SUNDAY STANDARD DATED DECEMBER 12 -18, 2021

1. The Board of Directors (the Turnstar Board) of Turnstar Holdings Limited (Turnstar) refers to the above -mentioned articles (the Articles).
2. The Turnstar Board advises shareholders, stakeholders and the public at large as follows:
3. 1. As with all investments made by the company, the Turnstar Board has had full knowledge of and oversight into the investment made by Turnstar relating to a Dubai property via Bucephalus Holding Limited (the Relevant Investment).
   2. No investment has been "kept off" the Turnstar books or has been "rogue" or has "flown under the radar," contrary to what is stated in the Articles. The Relevant Investment was in fact approved by the Turnstar Board on 9 December 2019, on an arms-length basis, and the agreement signed on 28 January 2020 was fully authorized.

1.

1. The agreement between Turnstar and Mr. Abdoola signed on 8 June 2021 was entered into to grant to Mr. Abdoola agency and assumption rights, on an assigned basis, to institute, progress and enforce litigation proceedings in relation to the Relevant Investment in Dubai.
2. The Relevant Investment has been fully recorded and disclosed in Turnstar's financial statements as an advance and Turnstar's auditors have at all times been furnished with the necessary information.
3. In the Turnstar Board's opinion, there has been no violation of any company mandate or Botswana Stock Exchange rule as to corporate disclosure or otherwise.
4. Notwithstanding the above, in the interests of good corporate governance and full transparency, the Turnstar Board has appointed a Gaborone law firm to conduct an independent legal forensic investigation into all aspects of the Relevant Investment and
   Turnstar's investment in the Palazzo Venezia property in Dubai. It is envisaged that the preliminary report in respect of the investigation will be presented to the Turnstar Board by the end of January 2022 and the Turnstar Board will provide an update in that connection at the appropriate time.
5. In the same spirit, the Turnstar Board has decided to bring forward and therefore extend its normal close period for trading of its securities by directors and other insiders. Accordingly, Turnstar will enter into a close period with effect from the date of publication of this press release until the date of publication of its annual financial statements for the year ending 31 January 2022.

15th December 2021

GABORONE

BY ORDER OF THE BOARD

2.