Results of Annual General Meeting AVI Limited (Incorporated in the Republic of South Africa) Registration Number 1944/017201/06 Share Code: AVI ISIN: ZAE000049433 (“AVI”) RESULTS OF ANNUAL GENERAL MEETING Shareholders are advised that the voting results for the Annual General Meeting (“AGM”) of AVI held at 11h00 on Thursday, 2 November 2017 were as follows: Resolution Resolution Number of Percentage For*** Against*** Abstained* Number shares voted of shares in % % % issue* % 1 Ordinary resolution 262 939 419 78.62 100 0 0.25 Approval of annual financial statements 2 This resolution had been withdrawn on - - - - - 6 October 2017 and was therefore not voted on 3 Ordinary resolution 263 147 033 78.68 100 0 0.19 Re-election of SL Crutchley as a director 4 Ordinary resolution 263 033 717 78.65 99.85 0.15 0.22 Re-election of OP Cressey as a director 5 Ordinary resolution 256 795 711 76.78 99.68 0.32 2.09 Re-election of GR Tipper as a director 6 Ordinary resolution 259 432 632 77.57 99.97 0.03 1.30 Appointment of MJ Bosman as a member and Chairman of the Audit and Risk Committee 7 Ordinary resolution 259 431 126 77.57 99.96 0.04 1.30 Appointment of NP Dongwana as a member of the Audit and Risk Committee 8 Ordinary resolution 259 430 281 77.57 77.02 22.98 1.30 Appointment of JR Hersov as a member of the Audit and Risk Committee 9 Special resolution 263 116 957 78.67 99.93 0.07 0.20 Increase in fees payable to non- executive directors, excluding the Chairman of the Board and foreign non- executive director 10 Special resolution 263 116 659 78.67 99.93 0.07 0.20 Increase in fees payable to the Chairman of the Board 11 Special resolution 263 114 984 78.67 99.93 0.07 0.20 Increase in fees payable to the foreign non-executive director 12 Special resolution 263 117 274 78.67 99.95 0.05 0.19 Increase in fees payable to members of the Remuneration, Nomination and Appointments Committee 13 Special resolution 263 116 478 78.67 99.95 0.05 0.20 Increase in fees payable to members of the Audit and Risk Committee 14 Special resolution 263 117 405 78.67 99.95 0.05 0.19 Increase in fees payable to members of the Social and Ethics Committee 15 Special resolution 263 116 086 78.67 99.95 0.05 0.20 Increase in fees payable to the Chairman of the Remuneration, Nomination and Appointments Committee 16 Special resolution 263 132 731 78.68 99.95 0.05 0.19 Increase in fees payable to the Chairman of the Audit and Risk Committee 17 Special resolution 263 115 557 78.67 99.94 0.06 0.20 Increase in fees payable to the Chairman of the Social and Ethics Committee 18 Special resolution 255 681 655 78.20** 100 0 0.19** General authority to buy-back shares 19 Ordinary Resolution 263 113 977 78.67 94.71 5.29 0.20 Non-binding advisory vote to endorse the remuneration policy *Based on 334 438 893 shares (excludes 17 234 352 treasury shares) in issue at the date of the AGM. **Based on 326 975 623 shares (excludes 17 234 352 treasury shares and 7 463 270 share scheme shares) in issue at the date of the AGM. ***In relation to the total number of shares voted at the AGM. Based on the above results, all resolutions were passed by the requisite majority of AVI shareholders present in person or represented by proxy at the AGM. Illovo Sandton 2 November 2017 Sponsor The Standard Bank of South Africa Limited Date: 02/11/2017 02:45:00 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.