AVI LIMITED - Dealing in AVI Shares by AVI Director

Dealing in AVI Shares by AVI Director

AVI Limited
Registration Number: 1944/017201/06
Share Code: AVI
ISIN: ZAE000049433
("AVI" or "the Company")

DEALING IN AVI SHARES BY AVI DIRECTOR

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             :   Michael Koursaris
Name of company              :   AVI
Date of transaction          :   4 November 2025
Number of shares granted     :   60 718
Option allocation price      :   R73,43
Total value of transaction   :   R4 458 522,74
Class of securities          :   Ordinary shares
Nature of transaction        :   Acceptance of shares awarded in
                                 terms of the AVI Deferred Bonus
                                 Share Plan
Extent of interest           :   Direct beneficial

The above transaction was done off-market.

Name of director             :   Michael Koursaris
Name of company              :   AVI
Date of transaction          :   4 November 2025
Number of shares granted     :   60 718
Price per share              :   R98,92
Total value of transaction   :   R6 006 224,56
Class of securities          :   Ordinary shares
Nature of transaction        :   Transfer of shares accepted into
                                 director's name
Extent of interest           :   Direct beneficial

The above transaction was done off-market.

Name of director             :   Michael Koursaris
Name of company              :   AVI
Date of transaction          :   4 November 2025
Number of shares granted     :   94 339
Option allocation price      :   R72,99
Total value of transaction   :   R6 885 803,61
Class of securities          :   Ordinary shares
Nature of transaction        :   Acceptance of shares awarded in
                                 terms of the AVI Limited Out-
                                 Performance Scheme
Extent of interest           :   Direct beneficial

The above transaction was done off-market.

Name of director             :   Michael Koursaris
Name of company              :   AVI
Date of transaction          :   4 November 2025
Number of shares granted     :   94 339
Price per share              :   R98,92
Total value of transaction   :   R9 332 013,88
Class of securities          :   Ordinary shares
Nature of transaction        :   Transfer of shares accepted into
                                 director's name
Extent of interest           :   Direct beneficial

The above transaction was done off-market.

Michael Koursaris elected to pay the tax owing and to transfer the
full awards into his own name.

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
4 November 2025

Sponsor
The Standard Bank of South Africa Limited

Date: 04-11-2025 05:03:00
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