Granting of awards to a director and company secretary AFRICAN OXYGEN LIMITED (Incorporated in the Republic of South Africa) (Registration number 1927/000089/06) JSE code: AFX NSX code: AOX ISIN: ZAE000067120 ("Afrox" or the "Company") GRANTING OF AWARDS TO A DIRECTOR AND COMPANY SECRETARY In compliance with paragraph 3.63 of the JSE Limited Listings Requirements ("Listings Requirements"), shareholders are advised that an executive director and the company secretary may derive a beneficial interest in terms of Afrox's Forfeitable Share Plan (2012) (the "Scheme"). Investec Bank, in their capacity as Escrow agent, has allocated shares, on behalf of the participants. In respect of the Scheme, the release of the options to the director and the company secretary is conditional upon being employed by the Company on that date and reaching predetermined performance conditions. The below allocations are considered to be off-market transactions. In order to comply with the Listings Requirements, the potential interest in these dealings is disclosed below: Name of director: S Venter Name of company: African Oxygen Limited Date of grant: 1 March 2017 Date of acceptance: 2 March 2017 Nature of transaction: Granting of Forfeitable Shares in terms of the Scheme Number of securities: 36 000 Deemed value per security: R18.90 Vesting period: 1 March 2020 Class of securities: Ordinary shares Number of share appreciation rights: 24 000 Deemed value per share appreciation right: R18.90 Vesting period: 1 March 2020 Total value of the transaction: R1 134 000 Nature of interest: Indirect beneficial Name of company secretary: C Singh Name of company: African Oxygen Limited Date of grant: 1 March 2017 Date of acceptance: 2 March 2017 Nature of transaction: Granting of Forfeitable Shares in terms of the Scheme Number of securities: 18 000 Deemed value per security: R18.90 Vesting period: 1 March 2020 Class of securities: Ordinary shares Number of share appreciation rights: 27 000 Deemed value per share appreciation right: R18.90 Vesting period: 1 March 2020 Total value of the transaction: R850 500 Nature of interest: Indirect beneficial Clearance for the above awards in terms of paragraph 3.66 of the Listings Requirements has been obtained. Johannesburg 3 March 2017 Sponsor One Capital Date: 03/03/2017 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.