Dealings in securities on behalf of an Employee Share Incentive Scheme Imperial Logistics Limited (Incorporated in the Republic of South Africa) Registration number: 1946/021048/06 ISIN: ZAE000067211 Share code: IPL ("Imperial" or “Company”) DEALINGS IN SECURITIES ON BEHALF OF AN EMPLOYEE SHARE INCENTIVE SCHEME In compliance with the Listings Requirements of the JSE Limited the following information is provided: Name of the Scheme: Imperial Share Appreciation Rights Scheme (SAR), Deferred Bonus Plan (DBP) and Conditional Share Plan (CSP) Class of security: Ordinary shares Nature of transactions: Hedging transactions in respect of rights issued under the SAR, DBP and CSP Type of trade: Off market Date of transaction: 21 December 2018 Expiry date: 22 November 2021 Number of shares: 1 000 000 Strike price per share: R65.09 Notional value: R65 090 000.00 Date of transaction: 21 December 2018 Expiry date: 21 December 2021 Number of shares: 1 000 000 Strike price per share: R65.09 Notional value: R65 090 000.00 Date of transaction: 21 December 2018 Expiry date: 21 January 2022 Number of shares: 1 000 000 Strike price per share: R65.09 Notional value: R65 090 000.00 Prior written approval in terms of paragraph 3.66 of the Listings Requirements was obtained. Company Secretary RA Venter 28 December 2018 BEDFORDVIEW Sponsor: Merrill Lynch South Africa (Pty) Limited Date: 28/12/2018 01:25:00 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.