Dealings in securities by directors VUNANI LIMITED (Incorporated in the Republic of South Africa) (Registration number 1997/020641/06) JSE code: VUN ISIN: ZAE000163382 ("Vunani" or "the company") DEALINGS IN SECURITIES BY DIRECTORS In compliance with paragraphs 3.63 to 3.64 of the Listings Requirements of JSE Limited ("Listings Requirements"), the following dealings took place by directors of Vunani Limited: Name of director EG Dube Date of acceptance of award: 23 February 2017 Type of transaction: Acceptance of performance shares awarded in terms of the share scheme approved by shareholders on 21 July 2015* Nature of interest: Direct Number of ordinary shares: 451 632 Price: 215 cents Value of transaction: R971 008.80 Name of director NM Anderson Date of acceptance of award: 23 February 2017 Type of transaction: Acceptance of performance shares awarded in terms of the share scheme approved by shareholders on 21 July 2015* Nature of interest: Direct Number of ordinary shares: 304 291 Price: 215 cents Value of transaction: R654 225.65 Name of director BM Khoza Date of acceptance of award: 23 February 2017 Type of transaction: Acceptance of performance shares awarded in terms of the share scheme approved by shareholders on 21 July 2015* Nature of interest: Direct Number of ordinary shares: 304 291 Price: 215 cents Value of transaction: R654 225.65 Name of director T Mika Date of acceptance of award: 23 February 2017 Type of transaction: Acceptance of performance shares awarded in terms of the share scheme approved by shareholders on 21 July 2015* Nature of interest: Direct Number of ordinary shares: 155 376 Price: 215 cents Value of transaction: R334 058.84 * The shares awarded will vest in 3 years if the above individuals are still employed by Vunani Limited or one of its subsidiaries and they meet the performance conditions as specified in their award letters. Clearance was obtained in terms of paragraph 3.66 of the Listings Requirements and dealing is off-market. Sandton 24 February 2017 Designated Adviser Grindrod Bank Limited Date: 24/02/2017 04:54:00 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.