Dealings in AVI Shares by AVI Directors, a Director of a Major Subsidiary and the AVI Company Secretary AVI Limited Registration Number: 1944/017201/06 Share Code: AVI ISIN: ZAE000049433 (“AVI” or “the Company”) DEALING IN AVI SHARES BY AVI DIRECTORS, A DIRECTOR OF A MAJOR SUBSIDIARY AND THE AVI COMPANY SECRETARY 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 : Simon Crutchley Name of company : AVI Date of transaction : 12 December 2019 Number of options granted : 74 892 Option allocation price : R88.59 Total value of transaction : R6 634 682.28 Class of securities : Ordinary shares Nature of transaction : Exercise of options granted in terms of the AVI Deferred Bonus Share Plan Extent of interest : Direct beneficial The above transaction was done off-market. Name of director : Simon Crutchley Name of company : AVI Date of transaction : 12 December 2019 Number of options granted : 74 892 Price per share : R87.00 Total value of transaction : R6 515 604.00 Class of securities : Ordinary shares Nature of transaction : Sale of shares in terms of the options exercised above Extent of interest : Direct beneficial The above transaction was done on-market. Name of director : Owen Cressey Name of company : AVI Date of transaction : 12 December 2019 Number of options granted : 33 003 Option allocation price : R88.59 Total value of transaction : R2 923 735.77 Class of securities : Ordinary shares Nature of transaction : Exercise of options granted in terms of the AVI Deferred Bonus Share Plan Extent of interest : Direct beneficial The above transaction was done off-market. Name of director : Owen Cressey Name of company : AVI Date of transaction : 12 December 2019 Number of options granted : 33 003 Price per share : R87.00 Total value of transaction : R2 871 261.00 Class of securities : Ordinary shares Nature of transaction : Sale of shares in terms of the options exercised above Extent of interest : Direct beneficial The above transaction was done on-market. Name of director : David Hood Name of company : National Brands Limited Date of transaction : 12 December 2019 Number of options granted : 7 726 Option allocation price : R88.59 Total value of transaction : R684 446.34 Class of securities : Ordinary shares Nature of transaction : Exercise of options granted in terms of the AVI Deferred Bonus Share Plan Extent of interest : Direct beneficial The above transaction was done off-market. Name of director : David Hood Name of company : National Brands Limited Date of transaction : 12 December 2019 Number of options granted : 7 726 Price per share : R87.72 Total value of transaction : R677 724.72 Class of securities : Ordinary shares Nature of transaction : Sale of shares in terms of the options exercised above Extent of interest : Direct beneficial The above transaction was done on-market. Company secretary : Sureya Scheepers Name of company : AVI Date of transaction : 12 December 2019 Number of options granted : 1 687 Option allocation price : R88.59 Total value of transaction : R149 451.33 Class of securities : Ordinary shares Nature of transaction : Exercise of options granted in terms of the AVI Deferred Bonus Share Plan Extent of interest : Direct beneficial The above transaction was done off-market. Company secretary : Sureya Scheepers Name of company : AVI Date of transaction : 12 December 2019 Number of options granted : 1 687 Price per share : R87.00 Total value of transaction : R146 769.00 Class of securities : Ordinary shares Nature of transaction : Sale of shares in terms of the options exercised above Extent of interest : Direct beneficial The above transaction was done on-market. Clearance to deal in these shares was obtained in accordance with AVI’s policy with regard to director’s dealings as well as the Listings Requirements of the JSE. Illovo Sandton 13 December 2019 Sponsor The Standard Bank of South Africa Limited Date: 13-12-2019 11:40:00 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.