Granting of awards to a director 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 A DIRECTOR In compliance with paragraph 3.63 of the JSE Limited Listings Requirements (“Listings Requirements”), shareholders are advised that Mr Schalk Venter may derive a beneficial interest in terms of Afrox’s Long Term Incentive Plan (2015) (the “Scheme”). Investec Bank, in their capacity as Escrow agent, has acquired shares, on market, on behalf of Mr Schalk Venter. In respect of the Scheme, the release of the options to the directors is conditional upon being employed by the Company on that date and reaching predetermined performance conditions. In order to comply with the Listings Requirements, the potential interest in these dealings is disclosed below: Name of previous director: S Venter Name of company: Afrox Limited Date of grant: 18 May 2015 Date of acceptance: 19 May 2015 Nature of transaction: Granting of options in terms of the Scheme Number of securities: 178,000 Price per security: R13.97 Vesting period: 18 May 2016, 30,000 securities; 18 May 2017, 25,000 securities; 1 January 2018, 73,000 securities; and 18 May 2018, 50,000 securities Class of securities: Ordinary shares Number of share appreciation rights: 32,000 Deemed value per share appreciation right: R13.97 Vesting period: 1 January 2018 Total value of the transaction: R2 933 700 Nature of interest: Indirect beneficial Clearance for the above awards in terms of paragraph 3.66 of the Listings Requirements has been obtained. Johannesburg 19 May 2015 Sponsor One Capital Date: 19/05/2015 04:15:00 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.