Directors’ Acceptance of SARS and FSP Awards AVENG LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1944/018119/06) ISIN: ZAE000111829 SHARE CODE: AEG ("Aveng" or "the Group") Directors’ Acceptance of SARS and FSP Awards The off-market acceptance of the annual awards by Directors and Subsidiary Directors in terms of the Group’s long-term incentive scheme, being the Forfeitable Share Plan and Share Appreciation Rights Scheme. Awards were made on 25 September 2013 in terms of the Aveng Long Term Incentive schemes, being the Share Appreciation Rights Scheme and the Forfeitable Share Plan. All the awards are for the direct beneficial interest of directors. Share Appreciation Rights awarded to and accepted by Directors and Subsidiary Directors: Director Company Acceptance Date Award Share Price Appreciation Rights Kobus Aveng Limited 27 September 2013 R 25.00 163,500 Verster Juba Mashaba Aveng Limited 27 September 2013 R 25.00 128,300 Solly Aveng (Africa) 27 September 2013 R 25.00 73,000 Letsoalo Limited Hercu Aucamp Aveng Trident 27 September 2013 R 25.00 121,900 Steel (Pty) Limited David Aveng Limited 27 September 2013 R 25.00 120,907 Robinson The vesting period of the SAR Awards are as follows:- - First 1/3rd of grant vests on 24 September 2016 - Second 1/3rd of grant vests on 24 September 2017 - Final 1/3rd of grant vests on 24 September 2018 Furthermore, vesting is subject to performance conditions. Forfeitable Share Plan (“FSP”) Schedule 14 of the JSE Limited Listings Requirements will in this instance not apply to the FSP as awards made under the scheme are settled by way of acquiring shares from third parties on the open market. No new shares will be issued by the Company to any participant. Forfeitable Shares awarded to and accepted by Directors and Subsidiary Directors: Director Company Acceptance Date Award Forfeitable Price Shares Kobus Aveng Limited 27 September 2013 R 25.00 75,000 Verster Juba Mashaba Aveng Limited 27 September 2013 R 25.00 50,000 Hercu Aucamp Aveng Trident 27 September 2013 R 25.00 50,000 Steel (Pty) Limited David Aveng Limited 27 September 2013 R 25.00 50,000 Robinson The vesting period of the FSP Award is 3 years from the Award Date and is subject to a performance condition. The necessary clearance in terms of paragraph 3.66 of the JSE Listings Requirements has been obtained. 27 September 2013 Sponsor: J.P. Morgan Equities South Africa Proprietary Limited Date: 27/09/2013 12:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.