Grant and acceptance of conditional share awards by directors of Torre and a major subsidiary of Torre Torre Industries Limited (Incorporated in the Republic of South Africa) (Registration number 2012/144604/06) Share code: TOR ISIN Code: ZAE000188629 (“Torre” or “the Company”) GRANT AND ACCEPTANCE OF CONDITIONAL SHARE AWARDS BY DIRECTORS OF TORRE AND A MAJOR SUBSIDIARY OF TORRE In terms of the Listings Requirements of the JSE Limited, we hereby provide the following information regarding the granting and acceptance of conditional share awards by Torre to the undermentioned directors of the Company and a major subsidiary company. Conditional share awards are subject to performance and retention conditions. The necessary authority in terms of paragraph 3.66 was obtained and these were off-market transactions: Date of acceptance : 13 December 2016 Nature of transaction : Initial grants and acceptance of conditional share awards by qualifying employees in terms of the Torre Conditional Share Plan approved by Shareholders at the Annual General Meeting held on 7 December 2016 Strike price : Nil (no consideration) Vesting date for awards : 13 December 2019 Class of security : Ordinary shares Nature of interest : Direct beneficial Name of Designation and Number of Notional Director company shares Value* subject to Conditional awards Johan Botes Chief Executive 1,252,632 R2,380,000 Officer of Torre Industries Ltd Shivan Mansingh Chief Financial 807,500 R1,534,250 Officer of Torre Industries Ltd Kevin Rogers Managing Director of 368,421 R700,000 Torre Parts and Components (Pty) Ltd Frans Lombard Financial Director of 331,579 R630,000 Torre Parts and Components (Pty) Ltd *Based on the closing price on 12 December 2016 of R1.90 per share. Johannesburg 13 December 2016 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 13/12/2016 03:00:00 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.