Dealings in securities by directors and directors of major subsidiaries VUNANI LIMITED (Incorporated in the Republic of South Africa) (Registration number 1997/020641/06) JSE code: VUN ISIN: ZAE000163382 ("Vunani" or "the company") DEALINGS IN SECURITIES BY DIRECTORS AND DIRECTORS OF MAJOR SUBSIDIARIES In compliance with paragraphs 3.63 to 3.64 of the Listings Requirements of JSE Limited ("Listings Requirements"), the following dealings took place by directors and directors of major subsidiaries of Vunani in terms of the Vunani Share Incentive Scheme (“VSIS”). The directors were initially awarded shares up to 2012. In terms of the VSIS the shares were issued on loan account. The shares have vested on 30 August 2018 and to repay the debt, the directors were required to sell a portion of their shares to settle the debt and tax obligations. In order for the directors to fulfil these obligations the following disposals have occurred: Name of director: Butana Khoza (Executive director) Number of ordinary shares vested: 461 429 Date of transaction: 30 August 2018 Type of transaction: Disposal of shares in terms of the VSIS Nature of interest: Direct Number of ordinary shares sold: 384 389 Price per share: 250 cents Value of transaction: R960 972.50 Name of director: Ethan Dube (executive director) Number of ordinary shares vested: 683 495 Date of transaction: 30 August 2018 Type of transaction: Disposal of shares in terms of the VSIS Nature of interest: Direct Number of ordinary shares sold: 570 042 Price: 250 cents Value of transaction: R1 425 105.00 Name of director: Tafadzwa Mika (executive director) Number of ordinary shares vested: 129 903 Date of transaction: 30 August 2018 Type of transaction: Disposal of shares in terms of the VSIS Nature of interest: Direct Number of ordinary shares: 108 341 Price: 250 cents Value of transaction: R270 852.50 Name of director: Mark Anderson (executive director) Number of ordinary shares vested: 449 207 Date of transaction: 30 August 2018 Type of transaction: Disposal of shares in terms of the VSIS Nature of interest: Direct Number of ordinary shares sold: 374 646 Price: 250 cents Value of transaction: R936 615.00 Name of director: Johan Rossouw Position: Director of Vunani Securities Pty Ltd (major subsidiary) Number of ordinary shares vested: 268 996 Date of transaction: 30 August 2018 Type of transaction: Disposal of shares in terms of the VSIS Nature of interest: Direct Number of ordinary shares: 224 347 Price: 250 cents Value of transaction: R560 767.50 The above transactions took place off market. Clearance was obtained in terms of paragraph 3.66 of the Listings Requirements. Sandton 31 August 2018 Designated Adviser Grindrod Bank Limited Date: 31/08/2018 03:15:00 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.