Director’s dealing in securities DISTRIBUTION AND WAREHOUSING NETWORK LIMITED (Reg. No. 1984/008265/06)) (Incorporated in the Republic of South Africa) Share Code: DAW ISIN Code: ZAE000018834 (“DAWN”) DIRECTOR’S DEALING IN SECURITIES NOTICE OF SHAREDEALINGS IN TERMS OF LISTINGS REQUIREMENTS PARAGRAPH 3.63 TO 3.74 On 22 February 2017 the Fouché Trust (“the Trust”) transferred 200000 DAWN shares to beneficiaries (a director and his associate) as set out below. As a result the interest changed from indirect beneficial to direct beneficial. Name of director: Mr. D J Fouché Designation: Non-Executive Director Number of shares transferred: 100000 Class of shares transferred: Ordinary Shares Shares transferred at: 195 cents per share Value of shares transferred: R195000-00 Date of shares transferred: 22 February 2017 Nature of transaction: Off market transfer of shares from the Trust to own name Nature of interest: Direct, beneficial Clearance to deal: This was obtained in advance in accordance with JSE Listings Requirements – paragraph 3.66. Name of Associate: Mrs. MJ Fouché Relationship with Director: Spouse Number of shares transferred: 100000 Class of shares transferred Ordinary Shares Shares transferred at: 195 cents per share Value of shares transferred: R195000-00 Date of shares transferred: 22 February 2017 Nature of transaction: Off market transfer of shares from the Trust to own name Nature of interest: Direct, beneficial Clearance to deal: This was obtained in advance in accordance with JSE Listings Requirements – paragraph 3.66. Germiston 23 February 2017 Sponsor Deloitte & Touche Sponsor Services (Pty) Limited Date: 23/02/2017 02:52:00 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.