Dealing in AVI shares by an AVI Director AVI Limited (Incorporated in the Republic of South Africa) Registration Number 1944/017201/06 Share Code: AVI ISIN: ZAE000049433 (“AVI” or “the Company”) DEALING IN AVI SHARES BY AN AVI DIRECTOR In compliance with Rules 3.63 – 3.74 of the Listings Requirements of the JSE Limited (“the JSE”), the following information is disclosed: Name of director : Simon Crutchley Date of transaction : 24 October 2016 Strike price and exercise price per option : R57.86 Number of ordinary shares : 16 542 Aggregate consideration : R 957 120.12 Class of securities : Ordinary shares Nature of transaction : Acceptance of shares awarded in terms of the AVI Limited Out- Performance Scheme Extent of interest : Direct beneficial The above transaction was done off-market. Name of Director : Simon Crutchley Date of transaction : 24 October 2016 Price per unit : R94.00 Number of ordinary shares : 16 542 Aggregate consideration : R 1 554 948.00 Class of securities : Ordinary shares Nature of transaction : Sale of shares accepted as above Extent of interest : Direct beneficial The above transaction was done on-market. This sale relates to shares awarded in October 2016 in terms of the AVI Limited Out-Performance Scheme, which requires participants to deal in the shares awarded within a limited time period. Simon Crutchley continues to hold 800 000 AVI shares in his own name, as well as 906 941 AVI Executive Share Options and 164 130 AVI Out-Performance Scheme Options. Clearance to deal in these shares was obtained in accordance with AVI’s policy with regard to director’s dealings as well as the Listings Requirements of the JSE. Illovo Sandton 25 October 2016 Sponsor The Standard Bank of South Africa Limited Date: 25/10/2016 01:47:00 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.