Award of Rights in terms of Imperial Share Incentive Schemes Imperial Logistics Limited Incorporated in the Republic of South Africa (Registration number: 1946/021048/06) ISIN: ZAE000067211 Share code: IPL (“Imperial”) AWARD OF RIGHTS IN TERMS OF IMPERIAL SHARE INCENTIVE SCHEMES In compliance with the Listings Requirements of the JSE Limited the following information is provided: Imperial has awarded Conditional Share Plan (CSP) rights to its executive directors and directors of major subsidiaries in respect of the 2019 financial year as set out in the table below. The CSP rights will vest in September 2022 and entitle a participant to receive Imperial shares subject to the achievement of performance conditions determined by the board of directors of the Company on allocation as follows: Condition Weighting ROIC between 1% and 3% in excess of WACC 50% HEPS vs peer group between 50th percentile and 50% upper quartile All awards were done off-market on Wednesday, 4 September 2019 and the Imperial share price used to calculate the total Face Value of the awards is an average VWAP for the two days before the date of award of R52.02 per share. The number of CSP awarded to each director is determined using an Expected Value, which is determined based on a valuation methodology taking into account the average VWAP of the two days before the date of award, and the estimated achievement of related performance conditions. The actual gains from CSP instruments upon vesting in 2022 will depend on the extent to which performance conditions are achieved and the share price at the time of vesting. Name of Director Number of CSP Total Face Value Total Expected on award date Value on award date M Akoojee 373 982 R19 454 543 R10 700 000 JG de Beer 202 719 R10 545 442 R5 800 000 H Bicil 278 167 R14 522 267 R7 987 252 J Truter 164 272 R8 545 429 R4 700 000 N vd Westhuizen 175 055 R9 106 361 R5 008 500 Prior written approval in terms of paragraph 3.66 of the Listing Requirements was obtained. Company Secretary RA Venter 9 September 2019 BEDFORDVIEW Sponsor: Merrill Lynch South Africa (Pty) Limited Date: 09/09/2019 12:00:00 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.
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