Dealings in securities by director HULAMIN LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1940/013924/06) ISIN: ZAE000096210 Share Code: HLM ("Hulamin") EXERCISE OF SHARE APPRECIATION RIGHTS AND LONG TERM INCENTIVE PLAN AWARDS AND SUBSEQUENT SALE OF SHARES BY DIRECTOR OF HULAMIN LIMITED In compliance with the JSE Limited Listings Requirements, the following information is disclosed: Director: R G Jacob Company: Hulamin Limited Nature of transaction: Off market exercise of share appreciation rights ("SARS") and subsequent on market sale of shares Date of exercise: 22 October 2015 Class of securities: SARS in respect of ordinary shares Hulamin SAR strike price: R4.56 Strike date: 25 February 2013 Number of SARS exercised: 530 732 Hulamin SARS settled by the purchase of 185 491 Hulamin ordinary shares of which 74 255 were subsequently sold on market Date of sale: 22 October 2015 Selling Price: R7.06 Value of sale: R524 240.30 Nature of interest: Direct beneficial Clearance obtained: Yes Director: R G Jacob Company: Hulamin Limited Nature of transaction: Off market exercise of long term incentive plan awards with performance conditions ("LTIP-PC") and subsequent on market sale of shares Date of exercise: 22 October 2015 Class of securities: LTIP-PC in respect of ordinary shares Grant date: 25 February 2013 Number of LTIP-PC exercised: 198 772 Hulamin LTIP-PC settled by the purchase of 97 169 Hulamin ordinary shares of which 41 296 were subsequently sold on market Date of sale: 22 October 2015 Selling Price: R7.05 Value of sale: R291 136.80 Nature of interest: Direct beneficial Clearance obtained: Yes Director: R G Jacob Company: Hulamin Limited Nature of transaction: Off market exercise of long term incentive plan awards with no performance conditions ("LTIP-NPC") and subsequent on market sale of shares Date of exercise: 22 October 2015 Class of securities: LTIP-NPC in respect of ordinary shares Grant date: 25 February 2013 Number of LTIP-NPC 66 257 Hulamin SARS settled exercised: by the purchase of 66 257 Hulamin ordinary shares of which 28 159 were subsequently sold on market Date of sale: 22 October 2015 Selling Price: R7.05 Value of sale: R198 520.95 Nature of interest: Direct beneficial Clearance obtained: Yes Summary of trades: Shares acquired with the settlement of share scheme awards 348 917 Shares sold to defray tax liability 143 710 Shares retained 205 207 Pietermaritzburg 27 October 2015 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 27/10/2015 05:39:00 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.