Directors' dealings Afrimat Limited Incorporated in the Republic of South Africa (Registration number: 2006/022534/06) Share code: AFT ISIN: ZAE000086302 (“Afrimat” or “the Company”) DIRECTORS’ DEALINGS In compliance with paragraphs 3.63 – 3.74 of the Listings Requirements of the JSE Limited, the information below is disclosed. Afrimat Share Appreciation Rights scheme Afrimat’s senior management are participants of the Afrimat Share Appreciation Rights scheme grant 6 (grant date 11 May 2011). The earliest vesting date of this grant is 10 May 2014, subject thereto that minimum profit growth targets are achieved during the three year vesting period. The minimum growth targets have been exceeded and the participants may now exercise their rights. Rights exercised Director 1 - Purchase Name of Director: Andries van Heerden (CEO of Afrimat Limited) Class of securities: Ordinary shares Nature of transaction: Receipt of shares as settlement of vested rights in the Afrimat Share Appreciation Rights scheme (Off market transaction) Date of transaction: 16 May 2014 Price per share: R 16.52 Number of shares: 456 659 Total value: R 7 544 006.68 Nature of interest: Direct beneficial Director 1 - Sale Name of Director: Andries van Heerden (CEO of Afrimat Limited) Class of securities: Ordinary shares Nature of transaction: Disposal of shares to settle tax liability relating to vested rights in the Afrimat Share Appreciation Rights scheme (Off market transaction) Date of transaction: 16 May 2014 Price per share: R 16.52 Number of shares: 182 664 Total value: R 3 017 609.28 Nature of interest: Direct beneficial Clearance was given in terms of paragraph 3.66 of the Listings Requirements of the JSE Limited. Director 2 - Purchase Name of Director: Hendrik Verreynne (Financial Director of Afrimat Limited) Class of securities: Ordinary shares Nature of transaction: Receipt of shares as settlement of vested rights in the (Off market transaction) Date of transaction: 16 May 2014 Price per share: R 16.52 Number of shares: 198 547 Total value: R 3 279 996.44 Nature of interest: Direct beneficial Director 2 - Sale Name of Director: Hendrik Verreynne (Financial Director of Afrimat Limited) Class of securities: Ordinary shares Nature of transaction: Disposal of shares to settle tax liability relating to vested rights in the Afrimat Share Appreciation Rights scheme (Off market transaction) Date of transaction: 16 May 2014 Price per share: R 16.52 Number of shares: 79 419 Total value: R 1 312 001.88 Nature of interest: Direct beneficial Clearance was given in terms of paragraph 3.66 of the Listings Requirements of the JSE Limited. By order of the Board of Directors Johannesburg 20 May 2014 Sponsor: Bridge Capital Advisors Proprietary Limited Date: 20/05/2014 02:00:00 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.