Director's dealing in securities 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 : 1 November 2016 Strike price and exercise price per option : R45.49 Number of ordinary shares : 207 160 Aggregate consideration : R 9 423 708.40 Class of securities : Options in respect of ordinary shares Nature of transaction : Exercise of options granted in April 2012 Extent of interest : Direct beneficial The above transaction was done off-market. Director : Simon Crutchley Date of transaction : 1 November 2016 Price per unit : R94.56 Number of ordinary shares : 207 160 Aggregate consideration : R 19 589 049.60 Class of securities : Ordinary shares Nature of transaction : Sale of shares in terms of the options exercised above Extent of interest : Direct beneficial The above transaction was done on-market. This sale relates to shares which are approaching their lapse date, in terms of the AVI Limited Executive Share Incentive Scheme. Simon Crutchley continues to hold 800 000 AVI shares in his own name, as well as 699 781 AVI Executive Share Options and 111 263 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 2 November 2016 Sponsor The Standard Bank of South Africa Limited Date: 02/11/2016 02:45:00 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.