Change in nature of a Director's Holding KAP Industrial Holdings Limited (Incorporated in the Republic of South Africa) Registration number: 1978/000181/06 Share Code: KAP ISIN: ZAE0000171963 (“KAP” or “the Company”) CHANGE IN NATURE OF A DIRECTOR’S HOLDING Notice is given, in terms of paragraphs 3.63 to 3.74 of the Listings Requirements of the JSE Limited’s Listing Requirements, of the following transaction in respect of the Company’s shares by a director of major subsidiaries of KAP: NAME OF DIRECTOR Frans Hendrik Olivier STATUS Executive director of major subsidiaries of KAP NAME OF MAJOR SUBSIDIARIES KAP Automotive Proprietary Limited, PG Bison Proprietary Limited and PG Bison Holdings Proprietary Limited TYPE OF SECURITIES Ordinary shares of no par value in KAP DATE OF TRANSACTIONS 23 November 2015 CENTS PER SHARE 700 NUMBER OF SECURITIES TRANSACTED 180 000 TOTAL RAND VALUE OF SECURITIES R1 260 000.00 NATURE OF TRANSACTIONS Transfer of KAP shares held on a direct beneficial basis by Mr Olivier to Mashoweng Investments Proprietary Limited, an associate of Mr. Olivier (Off market transaction) EXTENT OF DIRECTOR’S INTEREST IN The transfer results in a THE TRANSACTIONS change of interest from direct beneficial to indirect beneficial CONFIRMATION THAT CLEARANCE HAS Yes BEEN GIVEN IN TERMS OF PARAGRAPH 3.66 DATE OF CONFIRMATION 23 November 2015 By order of the Board Steinhoff Africa Secretarial Services Proprietary Limited 25 November 2015 Sponsor: PSG Capital Proprietary Limited Date: 25/11/2015 09:00:00 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.