Directors dealings Afrimat Limited Incorporated in the Republic of South Africa (Registration number: 2006/022534/06) Share code: AFT ISIN: ZAE000086302 (“Afrimat” or “the Company”) DIRECTORS’ DEALINGS In compliance with paragraphs 3.63 – 3.74 of the Listings Requirements of the JSE Limited, the information below is disclosed. Afrimat Share Appreciation Rights scheme Afrimat’s senior management are participants of the Afrimat Share Appreciation Rights scheme grant 10 (grant date 20 May 2015). The earliest vesting date of this grant was 19 May 2018, subject thereto that minimum profit growth targets were achieved during the three year vesting period. The minimum growth targets were exceeded and the participants may now exercise their rights. Rights exercised Director 1 - Purchase Name of Director: Andries van Heerden (CEO of Afrimat Limited) Class of securities: Ordinary shares Nature of transaction: Receipt of shares as settlement of vested rights in the Afrimat Share Appreciation Rights scheme (Off market transaction) Date of transaction: 20 November 2018 Price per share: R28.20 Number of shares: 77 589 Total value: R2 188 010 Nature of interest: Direct beneficial Director 1 - Sale Name of Director: Andries van Heerden (CEO of Afrimat Limited) Class of securities: Ordinary shares Nature of transaction: Disposal of shares to settle tax liability relating to vested rights in the Afrimat Share Appreciation Rights scheme (Off market transaction) Date of transaction: 20 November 2018 Price per share: R28.20 Number of shares: 34 915 Total value: R984 603 Nature of interest: Direct beneficial Clearance to deal was obtained for both transactions in terms of paragraph 3.66 of the Listings Requirements of the JSE Limited. By order of the board of directors Cape Town 22 November 2018 Sponsor: Bridge Capital Advisors Proprietary Limited Date: 22/11/2018 07:05:00 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.