Update on the disposal of certain of Aveng Capital Partner’s Assets AVENG LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1944/018119/06) ISIN: ZAE000111829 SHARE CODE: AEG ("Aveng" or "the Group") Update on the disposal of certain of Aveng Capital Partner’s Assets Further to the Group’s General Meeting on 14 November 2016, shareholders approved the disposal of certain of the Aveng Capital Partner’s assets, being the equity interests and loans in the specific project companies (“the Transaction”). The Transaction constitutes a Category 1 transaction in terms of the Listings Requirements of the JSE Limited. In the Share Sale Agreement entered into between Celanex (Pty) Ltd, Royal Bafokeng Holdings (Pty) Ltd, Aveng (Africa) (Pty) Ltd and Steelmetals (Pty) Ltd, the parties agreed to a longstop date of 30 November 2016, by which the conditions precedent to the transaction would be fulfilled. As certain of the conditions precedent have not been fulfilled, the parties have agreed to execute an addendum to the Share Sale Agreement, extending the longstop date to 23 December 2016, being the date by which the parties expect all outstanding required consents and approvals for the sale of the Windfall Equity Interest and the Blue Falcon Equity Interest to be in place. Notwithstanding the longstop date of 23 December 2016, the Addendum to Share Sale Agreement further provides that the conditions precedent in respect of the disposal of the Imvelo Equity Interest may be fulfilled by no later than 31 March 2017. This allows the Imvelo sale conditions precedent to be fulfilled after the longstop date of 23 December 2017 without affecting the validity or enforceability of the sale of the Imvelo Equity Interest. Jet Park 1 December 2016 Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd Date: 01/12/2016 02:50:00 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.