Dealing In AVI Shares By A Director Of A Major Subsidiary AVI Limited (Incorporated in the Republic of South Africa) (Registration Number 1944/017201/06) Share Code: AVI ISIN: ZAE000049433 (“AVI”) DEALING IN AVI SHARES BY A DIRECTOR OF A MAJOR SUBSIDIARY In compliance with Rules 3.63 – 3.74 of the Listings Requirements of the JSE Limited (“the JSE”), the following information is disclosed: Name of director : Mr KR Phillips Company : National Brands Limited Date of transaction : 13 September 2017 Class of securities : Ordinary shares Nature of transaction : Sale of ordinary shares in the market Price per share : R99.01 Number of ordinary shares: 1 000 Aggregate consideration : R 99 010.00 Extent of interest : Direct beneficial Name of director : Mr KR Phillips Company : National Brands Limited Date of transaction : 14 September 2017 Class of securities : Ordinary shares Nature of transaction : Sale of ordinary shares in the market Average price per share : R98.16 Highest price per share : R99.50 Lowest price per share : R97.68 Number of ordinary shares : 13 000 Aggregate consideration : R 1 276 080.00 Extent of interest : Direct beneficial Clearance to deal in these shares was obtained in accordance with AVI’s policy with regard to directors’ dealings as well as the Listings Requirements of the JSE. The above transaction was done on market. Illovo Sandton 15 September 2017 Sponsor The Standard Bank of South Africa Limited Date: 15/09/2017 11:15:00 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.