Directors dealings and dealings in securities by an associate of directors of the company Insimbi Refractory and Alloy Supplies Limited (Incorporated in the Republic of South Africa) (Registration number: 2002/029821/06) Share code: ISB ISIN: ZAE000116828 (“Insimbi” or “the Company”) DIRECTORS DEALINGS AND DEALINGS IN SECURITIES BY AN ASSOCIATE OF DIRECTORS OF THE COMPANY As part of the transaction wherein Insimbi will acquire 100% of the total issued share capital of the AMR Group, Insimbi shareholders are hereby advised that the four founding executive directors of Insimbi and New Seasons Investment Holdings Proprietary Limited (“New Seasons”) have purchased shares in terms of the vendor consideration placement of the newly issued Insimbi shares. As a result of the disclosure above and in compliance with paragraphs 3.63 – 3.74 of the Listings Requirements of the JSE Limited (“the Listings Requirements”), the following information is disclosed: Name of director: Colin Botha Date of transaction: 8 December 2016 Price per share: 100 cents Number of shares: 1 250 000 Total value: R 1 250 000 Class of securities: Ordinary shares Nature of transaction: Purchase (Off market transaction) Nature of interest: Direct Beneficial Clearance to deal obtained: Yes Name of director: Pieter Schutte Date of transaction: 8 December 2016 Price per share: 100 cents Number of shares: 3 250 000 Total value: R 3 250 000 Class of securities: Ordinary shares Nature of transaction: Purchase (Off market transaction) Nature of interest: Direct Beneficial Clearance to deal obtained: Yes Name of director: Frederik Botha Date of transaction: 8 December 2016 Price per share: 100 cents Number of shares: 4 714 000 Total value: R 4 714 000 Class of securities: Ordinary shares Nature of transaction: Purchase (Off market transaction) Nature of interest: Direct Beneficial Clearance to deal obtained: Yes Name of director: Eduard Liechti Date of transaction: 8 December 2016 Price per share: 100 cents Number of shares: 1 250 000 Total value: R 1 250 000 Class of securities: Ordinary shares Nature of transaction: Purchase (Off market transaction) Nature of interest: Direct Beneficial Clearance to deal obtained: Yes Name of director: Nelson Mwale Associate: New Seasons Date of transaction: 8 December 2016 Price per share: 100 cents Number of shares: 30 000 000 Total value: R 30 000 000 Class of securities: Ordinary shares Nature of transaction: Purchase (Off market transaction) Nature of interest: Indirect Beneficial Clearance to deal obtained: Yes Name of director: Pamela Mogotlane Associate: New Seasons Date of transaction: 8 December 2016 Price per share: 100 cents Number of shares: 30 000 000 Total value: R 30 000 000 Class of securities: Ordinary shares Nature of transaction: Purchase (Off market transaction) Nature of interest: Indirect Beneficial Clearance to deal obtained: Yes Shareholders are further advised that collectively, New Seasons has purchased a total of 30 000 000 shares as part of the vendor consideration placement, but each associate’s dealing’s above has been disclosed separately as required and in terms of paragraph 3.63 – 3.74 of the Listings Requirements. Johannesburg 9 December 2016 Sponsor: Bridge Capital Advisors Proprietary Limited Date: 09/12/2016 02:05:00 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.