Director’s dealings in securities METAIR INVESTMENTS LIMITED (Reg No. 1948/031013/06) (Incorporated in the Republic of South Africa) Share code : MTA ISIN code : ZAE000090692 (“Metair”) DIRECTOR’S DEALINGS IN SECURITIES In accordance with the requirements of paragraphs 3.63 to 3.66 of the JSE Limited Listings Requirements (“Listings Requirements”), the following transactions by a director of Metair are hereby disclosed. On 26 October 2015, Metair ordinary shares (“Shares”) were conditionally granted (“Bonus Shares”) to Mr Douwenga in accordance with the Metair Investments Limited 2009 Share Plan. The Bonus Shares have vested and have been exercised by Mr Douwenga pursuant to which Mr Douwenga received Shares at no cost. The nature of the interest of Mr Douwenga is direct beneficial. Details of the exercise of the Bonus Shares and the related receipt of Shares are tabled below. DETAILS OF EXERCISE OF BONUS SHARES Total number of Shares exercised/settled 250 000 Deemed value of Bonus Shares on exercise R3 810 000.00 at a price of R15.24 per Share, being the closing price on 25 October 2018 Class of Securities Ordinary shares Nature of transaction Settlement of Bonus Shares at no cost Date of Award 26 October 2015 Date of Bonus Shares exercised/settled 26 October 2018 Vesting period Bonus Shares vest on the third anniversary of the award date. Clearance obtained in terms of paragraph 3.66 of the Listings Yes Requirements In order to settle the tax obligations that arose as a result of the vesting of the Bonus Shares, Mr Douwenga sold Shares as per the table below. DETAILS OF SALE OF SHARES Transaction 1 Date of transaction 26 October 2018 Nature of transaction On-market sale of shares Class of Share Ordinary shares Price per Share Various differed trades with the following price information: - Volume weighted average price of R14.8294 - Highest price of R15.00 - Lowest price of R14.22 Number of Shares sold 59 297 Total value of Shares sold R879 338.93 Clearance obtained in terms of paragraph 3.66 of the Listings Yes Requirements Transaction 2 Date of transaction 29 October 2018 Nature of transaction On-market sale of shares Class of Share Ordinary shares Price per Share Various differed trades with the following price information: - Volume weighted average price of R14.205 - Highest price of R14.23 - Lowest price of R14.19 Number of Shares sold 53 703 Total value of Shares sold R762 851.12 Clearance obtained in terms of paragraph 3.66 of the Listings Yes Requirements Transaction 3 Date of transaction 30 October 2018 Nature of transaction On-market sale of shares Class of Share Ordinary shares Price per Share R14.20 Number of Shares sold 7 000 Total value of Shares sold R99 400.00 Clearance obtained in terms of paragraph 3.66 of the Listings Yes Requirements Johannesburg 1 November 2018 Sponsor One Capital Date: 01/11/2018 10:40:00 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.