Granting of awards to directors AFRICAN OXYGEN LIMITED (Incorporated in the Republic of South Africa) (Registration number 1927/000089/06) JSE code: AFX NSX code: AOX ISIN: ZAE000067120 (“Afrox” or "the Company") GRANTING OF AWARDS TO DIRECTORS In compliance with paragraph 3.63 of the JSE Limited Listings Requirements (“Listings Requirements”), shareholders are advised that certain directors may derive a beneficial interest in terms of Afrox’s Forfeitable Share Plan (2012) (“the Scheme”). Investec Bank, in their capacity as Escrow agent, has acquired shares, on market, on behalf of certain directors. In respect of the Scheme and the release thereof to the directors referred to below, is conditional on the director being employed by the Company on that date and reaching predetermined performance conditions. In order to comply with the Listings Requirements, the directors’ potential interest in these dealings is disclosed below: Name of director B Kimber Name of Company Afrox Limited Nature of transaction Acceptance of options in terms of the Scheme Date of grant 10 November 2014 Date of acceptance 24 November 2014 Number of securities 48 000 Price of securities R19.54 Total value of transaction R937 920.00 Class of securities Ordinary shares Vesting period 3 years Nature of interest Indirect beneficial On/off market transaction On Name of director N A Thomson Name of Company Afrox Limited Nature of transaction Acceptance of options in terms of the Scheme Date of transaction 10 November 2014 Date of acceptance 24 November 2014 Number of securities 36 000 Price of securities R19.54 Total value of transaction R703 440,00 Class of securities Ordinary shares Vesting period 3 years from date of grant Nature of interest Indirect beneficial On/off market transaction On Clearance for the granting the above awards in terms of paragraph 3.66 of the Listings Requirements has been obtained. The above trades were completed outside of a prohibited period. Johannesburg 25 November 2014 Sponsor One Capital Date: 25/11/2014 02:15:00 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.