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 (primarily earnings and Balance Sheet growth) and retention conditions. The necessary authority in terms of paragraph 3.66 was obtained and these were off-market transactions: Date of acceptance : 13 September 2017 Nature of transaction : Grants and acceptance of conditional share awards by qualifying employees in terms of the Torre Conditional Share Plan Strike price : Nil (no consideration, however vesting is linked to the achievement of performance and retention conditions) Class of security : Ordinary shares Nature of interest : Direct beneficial Name of Designation Number of Notional Vesting date Director and company shares Value* for awards subject to Conditional awards Jon Hillary Executive 16,296,296 R21,511,111 30 June 2020 Deputy Chairman of Torre Industries Ltd Johan Botes Chief 571,650 R754,578 7 September Executive 2020 Officer of Torre Industries Ltd Shivan Chief 448,831 R592,457 7 September Mansingh Financial 2020 Officer of Torre Industries Ltd Kevin Rogers Managing 383,897 R506,744 7 September Director of 2020 Torre Parts and Components (Pty) Ltd Frans Lombard Financial 345,508 R456,071 7 September Director of 2020 Torre Parts and Components (Pty) Ltd *Based on the closing price on 13 September 2017 of R1.32 per share. Johannesburg 14 September 2017 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 14/09/2017 11:00:00 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.