Dealings in securities by directors CALGRO M3 HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration Number 2005/027663/06) Share code: CGR ISIN: ZAE000109203 (“Calgro M3” or “the company” or “the Group”) DEALINGS IN SECURITIES BY DIRECTORS In accordance with the requirements of paragraph 3.63 to 3.74 of the JSE Limited Listings Requirements (“Listings Requirements”), the following dealings in securities by directors, as a result of the implementation of the Calgro M3 Executive Share Incentive Scheme which was approved by shareholders at the annual general meeting held on 29 July 2015, should be noted: 1. Name of company : CALGRO M3 HOLDINGS LIMITED Name of director : Ben Pierre Malherbe, Class of securities : Ordinary shares in Calgro M3 Nature of transactions : Allocation of shares in terms of the Calgro M3 Executive Share Incentive Scheme Nature of interests : Direct beneficial Grant date : 29 July 2015 Date of transaction : 04 December 2015 No of shares : 1 050 069 Price : 408 cents per share Total value of transaction : R4 284 281 2. Name of company : CALGRO M3 HOLDINGS LIMITED Name of director : Willem Jakobus Lategan, Class of securities : Ordinary shares in Calgro M3 Nature of transactions : Allocation of shares in terms of the Calgro M3 Executive Share Incentive Scheme Nature of interests : Direct beneficial Grant date : 29 July 2015 Date of transaction : 04 December 2015 No of shares : 2 294 214 Price : 408 cents per share Total value of transaction : R9 360 393 3. Name of company : CALGRO M3 HOLDINGS LIMITED Name of director : Wayne Williams, Class of securities : Ordinary shares in Calgro M3 Nature of transactions : Allocation of shares in terms of the Calgro M3 Executive Share Incentive Scheme Nature of interests : Direct beneficial Grant date : 29 July 2015 Date of transaction : 04 December 2015 No of shares : 1 084 815 Price : 408 cents per share Total value of transaction : R4 426 045 4. Name of company : CALGRO M3 HOLDINGS LIMITED Name of director : Willem Adolph Joubert Class of securities : Ordinary shares in Calgro M3 Nature of transactions : Allocation of shares in terms of the Calgro M3 Executive Share Incentive Scheme Nature of interests : Direct beneficial Grant Date : 29 July 2015 Date of transaction : 04 December 2015 No of shares : 952 562 Price : 408 cents per share Total value of transaction : R3 886 453 Clearance to trade has been obtained in terms of section 3.66 of the Listings Requirements. Johannesburg 04 December 2015 Sponsor Grindrod Bank Limited Date: 04/12/2015 11:10:00 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.