Allocation of Share Appreciation Rights and Forfeitable Shares PPC Ltd Incorporated in the Republic of South Africa Registration number 1892/000667/06 JSE / ZSE share code: PPC JSE ISIN: ZAE000170049 (“PPC” or the “Company”) ALLOCATION OF SHARE APPRECIATION RIGHTS AND FORFEITABLE SHARES In compliance with the requirements of paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the following grants and acceptances of equity settled share appreciation rights (“SARs”) and forfeitable shares in terms of the company´s Forfeitable Share Plan (FSP) should be noted: Executive director: Darryll John Castle Designation: Chief Executive Officer Date of grant: 29 May 2015 Date of acceptance: 29 May 2015 Number of SARs: 2 333 652 Grant price: R19.71 Vesting date: 19 February 2018 Lapse date: 19 February 2021 Performance criteria: Achievement of agreed targets over three years Extent of interest: Direct beneficial Clearance obtained: Yes Executive director: Mmakeaya Magoro Tryphosa Ramano Designation: Chief Financial Officer Date of grant: 29 May 2015 Date of acceptance: 29 May 2015 Number of SARs: 581 300 Grant price: R19.71 Vesting date: 19 February 2018 Lapse date: 19 February 2021 Performance criteria: Achievement of agreed targets over three years Extent of interest: Direct beneficial Clearance obtained: Yes Company secretary: Jacobus Hendrik De La Rey Snyman Date of grant: 29 May 2015 Date of acceptance: 29 May 2015 Number of SARs: 114 400 Grant price: R19.71 Vesting date: 19 February 2018 Lapse date: 19 February 2021 Performance criteria: Achievement of agreed targets over three years Extent of interest: Direct beneficial Clearance obtained: Yes Executive director: Darryll John Castle Designation: Chief Executive Officer Number of FSP shares awarded: 125 150 Price at which shares were awarded: R19.96 Value: R2 497 994 Date of award: 29 May 2015 Acceptance of award: 29 May 2015 Vesting: 19 February 2018 Extent of interest: Direct beneficial Clearance obtained: Yes Executive director: Mmakeaya Magoro Tryphosa Ramano Designation: Chief Financial Officer Number of FSP shares awarded: 56 900 Price at which shares were awarded: R19.96 Value: R1 135 724 Date of award: 29 May 2015 Acceptance of award: 29 May 2015 Vesting: 31 200 vest on 19 February 2018 and 25 700 vest on 17 February 2017 Extent of interest: Direct beneficial Clearance obtained: Yes Company Secretary: Jacobus Hendrik De La Rey Snyman Number of FSP shares awarded: 18 400 Price at which shares were awarded: R19.96 Value: R367 264 Date of award: 29 May 2015 Acceptance of award: 29 May 2015 Vesting: 19 February 2018 Extent of interest: Direct beneficial Clearance obtained: Yes All the aforementioned were off-market transactions. Sandton 1 June 2015 Sponsor: Merrill Lynch South Africa (Pty) Limited Date: 01/06/2015 04:27:00 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.