Related Party Clarification AVENG LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1944/018119/06) ISIN: ZAE000111829 SHARE CODE: AEG ("Aveng" or "the Group") Related Party Clarification 1. Introduction Aveng shareholders are referred to the announcement on SENS, dated 18 August 2014 (the “Announcement”), in which Aveng announced the posting of a circular to shareholders, including a notice of general meeting (the “Circular”), to propose a resolution to grant the Aveng board a specific authority to issue shares for cash (the “Resolution”) in order to convert the ZAR2 billion 7.25% senior unsecured convertible bonds, issued by Aveng, as announced on SENS on 16 July 2014 (the “Convertible Bonds”). 2. Related party clarification Both the Announcement and the Circular incorrectly describe Allan Gray as a “related party” in terms of the JSE Listings Requirements by claiming that it holds, directly or indirectly, more than a 10% beneficial interest in Aveng’s ordinary shares at the commencement of the bookbuilding process for the Convertible Bonds. It has since been brought to Aveng’s attention that Allan Gray is neither a “related party” nor a “material shareholder” in terms of the JSE Listings Requirements as it is not entitled to exercise or control the exercise of 10% or more of the votes attached to Aveng’s shares held by its clients nor has it been in such a position at any time during the past twelve months. Accordingly, the JSE has ruled that any Allan Gray client or entity that did not participate in the Convertible Bonds is entitled to be present at the general meeting and to vote on the Resolution. 3. Voting Restriction As per Section 5.51 (g) of the Listings Requirements, any Allan Gray client or entity or for that matter any other shareholder which is a holder of Convertible Bonds from the period commencing on the last day to trade date up to and including the date of the general meeting is not entitled to vote on the Resolution. Morningside, Sandton 25 August 2014 Sponsor: JP Morgan Equities South Africa Proprietary Limited Date: 25/08/2014 02:26:00 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.