Dealing in securities by directors WESCOAL HOLDINGS LIMITED Incorporated in the Republic of South Africa (Registration number 2005/006913/06) Share code: WSL ISIN: ZAE000069639 (“Wescoal” or "the Company") Dealing in securities by directors In terms of paragraphs 3.63 - 3.65 of the JSE Limited Listings Requirements, the following information, relating to the dealing in securities, is disclosed: Name: Thivha Tshithavhane Designation: Executive director Date of transaction: 28 November 2016 Class of securities: Share options Number of share options: 850 000 Price per share option: R2.45 Total value: R2 082 500 Exercise periods: 20% after the 1st anniversary date 40% after the 2nd anniversary date 60% after the 3rd anniversary date 80% after the 4th anniversary date Remainder after the 5th anniversary date Nature of transaction: Award and acceptance of share options in terms of the Wescoal Share Incentive Trust (off market) Extent of interest: Direct beneficial Clearance to deal: Not applicable Name: Bothwell Mazarura Designation: Executive director Date of transaction: 28 November 2016 Class of securities: Share options Number of share options: 1 000 000 Price per share option: R2.45 Total value: R2 450 000 Exercise periods: 20% after the 1st anniversary date 40% after the 2nd anniversary date 60% after the 3rd anniversary date 80% after the 4th anniversary date Remainder after the 5th anniversary date Nature of transaction: Award and acceptance of share options in terms of the Wescoal Share Incentive Trust (off market) Extent of interest: Direct beneficial Clearance to deal: Not applicable 29 November 2016 Sponsor Nedbank Corporate and Investment Banking Date: 29/11/2016 02:46:00 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.