Dealings In Company Shares By Directors KAP Industrial Holdings Limited Incorporated in the Republic of South Africa) Registration number: 1978/000181/06 Share Code: KAP ISIN: ZAE000171963 (“KAP”, “the Company” or “the Group”) DEALINGS IN COMPANY SHARES BY DIRECTORS It is herewith disclosed, as required in terms of paragraphs 3.63 to 3.68 of the Listings Requirements of the JSE Limited, that the below-mentioned executive directors of KAP, through their associates, have disposed of the under-mentioned number of KAP ordinary shares of no par value in on-market transactions on 8 December 2017 in order to settle other share-related debt obligations. Despite these obligatory disposals, both directors remain soundly invested in KAP securities. Number of Market price Market value Name of director shares sold (cents per (R) share) GN Chaplin (a director of associate High:798 Straalhoek Sawmill (Pty) 1 621 316 Low:790 12 853 091.17 Ltd) Average:793 GN Chaplin (a trustee and beneficiary of associate High:798 BSL Plus One Trust) 350 000 Low:797 2 792 182.68 Average:798 FH Olivier (a director of associate High: 800 Mashoweng Investments 279 106 Low: 790 2 226 001.98 (Pty) Ltd) VWAP: 797 Each director had an indirect beneficial interests in his transaction(s). As required in terms of paragraph 3.66 of the Listings Requirements of the JSE Limited, clearance to deal in securities has been granted for the above transactions. By order of the Board Company Secretary 12 December 2017 Sponsor: PSG Capital (Pty) Limited Date: 12/12/2017 12:00:00 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.