Response to announcement by Murray & Roberts AVENG LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1944/018119/06) Share code: AEG Share ISIN: ZAE000111829 JSE 2019 Convertible Bond Code: AEGCB JSE 2019 Convertible Bond ISIN: ZAE000194940 ("Aveng", or "the Company") RESPONSE TO ANNOUNCEMENT BY MURRAY & ROBERTS Murray & Roberts M&R transaction Aveng shareholders are referred to the announcement released on SENS on Thursday, 2 August 2018 as well as the M&R announcement published on SENS earlier this morning in relation to the potential combination of M&R and Aveng, stating that M&R has given Aveng formal notice that it will no longer be pursuing the M&R Transaction (as defined in previous announcements). The Company confirms that it is in receipt of such formal notice from M&R. Capital Markets Transaction As detailed in the announcement released on SENS on Thursday, 2 August 2018, Aveng remains of the view that the implementation of the Early Bond Redemption (as defined in previous SENS announcements) as soon as practically possible is in the best interest of all stakeholders and as such, given the recent developments in relation to the M&R transaction described above, the Company intends to continue with its Capital Markets Transaction (as defined in previous SENS announcements) and specifically the Early Bond Redemption. Deleveraging the Company to reduce its debt burden and to improve liquidity is critical to unlock value for Aveng shareholders. Further detail in relation to the Early Bond Redemption is expected to be announced in due course. Cautionary announcement Shareholders are advised that the cautionary in relation to the M&R transaction is withdrawn. Shareholders are advised to continue to exercise caution when dealing in the Company’s securities until a further announcement is made in relation to the Capital Markets Transaction. Jet Park 8 August 2018 JSE Sponsor UBS South Africa Proprietary Limited Financial advisor and transaction sponsor for the Capital Markets Transaction Rand Merchant Bank (A division of FirstRand Bank Limited) Legal advisors Baker McKenzie Debt sponsor Absa Bank Limited, acting through its corporate and investment banking division Michael Canterbury Group Executive: Strategy & Investor Relations Tel: 011 779 2979 Email: michael.canterbury@avenggroup.com Date: 08/08/2018 09:38:00 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.