Directors' dealings in securities METAIR INVESTMENTS LIMITED (Reg No. 1948/031013/06) (Incorporated in the Republic of South Africa) Share code : MTA ISIN code : ZAE000090692 (“Metair” or the “Company”) DIRECTORS’ DEALINGS IN SECURITIES In terms of paragraph 3.63 of the JSE Limited Listings Requirements (“Listings Requirements”), we hereby advise of the following acceptances of share appreciation rights (“SARs”) and performance shares, which may be settled in cash or Metair ordinary shares, in terms of The Metair Investments Limited 2009 Share Plan, by directors of the Company and its major subsidiaries (“Participants”). The terms and conditions of the share appreciation rights are: Date of award 2 April 2014 Number of SARs awarded to 201 395 Participants Price paid per SAR Nil Total value of transaction Nil Allocation price per SAR R42.77 Nature of transaction Acceptance of awards First vesting date 3 April 2017 Vesting period In equal thirds on 3rd, 4th and 5th anniversaries but need not be exercised until the 6th anniversary Transaction completed on market No Clearance obtained in terms of Yes paragraph 3.66 of the Listings Requirements The terms and conditions of the performance shares are: Date of award 2 April 2014 Number of performance shares awarded 121 564 to Participants Price paid per performance share Nil Total value of transaction Nil Class of securities Performance shares over ordinary shares Nature of transaction Acceptance of awards Vesting date 3 April 2017 Vesting period Performance shares will vest on the 3rd anniversary of their award to the extent that the Company has met specified performance criteria over the intervening period Transaction completed on market No Clearance obtained in terms of Yes paragraph 3.66 of the Listings Requirements The SARs and performance shares were accepted by the following Participants: No. of No. of performance SARs shares Nature of Director Company name accepted accepted interest Metindustrial Direct Mr K. Lello (Pty) Ltd 19 519 10 646 beneficial Metindustrial Direct Mr R. Bezuidenhout (Pty) Ltd 11 321 6 143 beneficial Metindustrial Direct Mrs H. McLachlan (Pty) Ltd 5 456 3 841 beneficial Metindustrial Direct Mr M. Slattery (Pty) Ltd 5 190 3 654 beneficial Metindustrial Direct Mr A. Webb (Pty) Ltd 4 880 3 436 beneficial Metindustrial Direct Mr J. Ward (Pty) Ltd 3 137 2 854 beneficial Metindustrial Direct Mr N. Mavhungu (Pty) Ltd 5 298 3 730 beneficial Metindustrial Direct Mr MC. Mahlanu (Pty) Ltd 2 882 2 623 beneficial Metindustrial Direct Mr A. Becker (Pty) Ltd 15 531 7 695 beneficial Metindustrial Direct Mr B. Sivlal (Pty) Ltd 5 801 4 084 beneficial Metindustrial Direct Mr C. Ellison (Pty) Ltd 4 821 3 395 beneficial Metindustrial Direct Mr M. de Lange (Pty) Ltd 6 166 4 341 beneficial Metindustrial Direct Mr M. Barley (Pty) Ltd 5 363 3 776 beneficial Mutlu Holding Direct Dr L. Denner Anonim Sirketi 38 850 21 098 beneficial Mr C.J.J. van Mutlu Holding Direct Rensburg Anonim Sirketi 3 700 3 527 beneficial Direct Mr C.T. Loock Metair 34 744 20 629 beneficial Direct Mr S. Douwenga Metair 22 252 12 358 beneficial Johannesburg 3 April 2014 Sponsor: One Capital Date: 03/04/2014 03:00:00 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.