Vesting and trading of forfeitable shares of Murray & Roberts ordinary shares MURRAY & ROBERTS HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration number 1948/029826/06 JSE Share Code: MUR ISIN: ZAE000073441 (“Murray & Roberts” or “Company”) Vesting and trading of forfeitable shares of Murray & Roberts ordinary shares under the Murray & Roberts Holdings Forfeitable Share Plan (“FSP”) 1. Vesting of 2012 FSP Allocation As more fully disclosed in the Company’s 2015 Annual Integrated report, certain of the performance conditions related to the 2012 allocation of forfeitable shares were not met. As a result, only 75% of the forfeitable shares have vested. The shares vested on 27 November 2015, at a price of R8.55 per share as indicated below. The shares were transferred off-market. The interests in these transactions will be directly and beneficially held by the respective executives. Name of director: HJ Laas Company: Murray & Roberts Holdings Limited Shares delivered: 124 875 ordinary shares Value of transaction: R1 067 681.25 Name of director: AJ Bester Company: Murray & Roberts Holdings Limited Shares delivered: 90 750 ordinary shares Value of transaction: R775 912.50 Name of subsidiary director: O Fenn Subsidiary company: Murray & Roberts Limited Shares delivered: 78 375 ordinary shares Value of transaction: R670 106.25 Name of subsidiary director: JN Govender Subsidiary company: Murray & Roberts Limited Shares delivered: 58 500 ordinary shares Value of transaction: R500 175.00 Name of subsidiary director: ST Harrison Subsidiary company: Murray & Roberts Limited Shares delivered: 37 500 ordinary shares Value of transaction: R320 625.00 Name of subsidiary director: IW Henstock Subsidiary company: Murray & Roberts Limited Shares delivered: 60 750 ordinary shares Value of transaction: R519 412.50 Name of subsidiary director: WT Mdluli Subsidiary company: Murray & Roberts Limited Shares delivered: 25 125 ordinary shares Value of transaction: R214 818.75 Name of subsidiary director: RAG Skudder Subsidiary company: Murray & Roberts Limited Shares delivered: 53 625 ordinary shares Value of transaction: R458 493.75 2. Trading of Murray & Roberts ordinary shares The following executives sold a portion of the vested shares through on-market trades to settle the tax arising from the vesting event on 27 November 2015. The nature and extent of each subsidiary director’s interest was direct and beneficial. Name of subsidiary director: O Fenn Subsidiary company: Murray & Roberts Limited Transaction date: 30 November 2015 Shares sold: 33 309 ordinary shares Highest price per share: R 9.10 Lowest price per share: R 8.50 Volume weighted average price per share: R 8.7391 Value of transaction: R 291 090.68 Name of subsidiary director: JN Govender Subsidiary company: Murray & Roberts Limited Transaction date: 30 November 2015 Shares sold: 24 862 ordinary shares Highest price per share: R 9.10 Lowest price per share: R 8.50 Volume weighted average price per share: R 8.7391 Value of transaction: R 217 271.50 Name of subsidiary director: ST Harrison Subsidiary company: Murray & Roberts Limited Transaction date: 30 November 2015 Shares sold: 15 937ordinary shares Highest price per share: R 9.10 Lowest price per share: R 8.50 Volume weighted average price per share: R 8.7391 Value of transaction: R 139 275.04 Name of subsidiary director: WT Mdluli Subsidiary company: Murray & Roberts Limited Transaction date: 30 November 2015 Shares sold: 10 678 ordinary shares Highest price per share: R 9.10 Lowest price per share: R 8.50 Volume weighted average price per share: R 8.7391 Value of transaction: R 93 316.11 Name of subsidiary director: RAG Skudder Subsidiary company: Murray & Roberts Limited Transaction date: 30 November 2015 Shares sold: 22 790 ordinary shares Highest price per share: R 9.10 Lowest price per share: R 8.50 Volume weighted average price per share: R 8.7391 Value of transaction: R 199 164.09 Values are before brokerage fees. Clearance has been obtained in terms of paragraph 3.66 of the JSE Limited Listings Requirements. Bedfordview 2 December 2015 Sponsor: Deutsche Securities (SA) Proprietary Limited Date: 02/12/2015 05:30:00 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.