Vesting of Share Incentive Scheme Shares and Rights Awarded in 2016 Imperial Logistics Limited (Incorporated in the Republic of South Africa) Registration number: 1946/021048/06 ISIN: ZAE000067211 Share code: IPL (‘Imperial’) VESTING OF SHARE INCENTIVE SCHEME SHARES AND RIGHTS AWARDED IN 2016 In compliance with the Listings Requirements of the JSE Limited the following information is provided in relation to the directors, directors of major subsidiaries and the company secretary of Imperial: Vesting on 19 September 2019 of Imperial ordinary shares in the Deferred Bonus Plan (“DBP”) at a price of R56.55 per share. DBP shares were acquired by scheme participants in 2016 on the open market prior to unbundling of Motus Holdings Limited (Motus) at the then ruling Imperial share price. In accordance with the amended Share Incentive Schemes (SIS) approved by shareholders of Imperial on unbundling of Motus, an equal number of matching Imperial and Motus ordinary shares are awarded on vesting at no further cost. Vesting on 19 September 2019 of 87.76% of Share Appreciation Rights (“SAR”) at a strike price of R127.77 per SAR, after applying the related peer comparison and ROIC performance conditions. In accordance with the amendments to the SIS, the gains of participants in terms of the SAR scheme will be determined using the combined share price of Imperial and Motus at the time when each participant elects to exercise the vested rights, which may be done within two years after vesting. Director: M Akoojee Nature and extent of interest in transaction: Direct/beneficial Number of matching Imperial DBP shares vested: 15 184 Total value of transaction: R858 655.20 Number of SAR vested 91 249 Director: JG de Beer Nature and extent of interest in transaction: Direct/beneficial Number of SAR vested 71 679 Director of major subsidiary: J Truter Nature and extent of interest in transaction: Direct/beneficial Number of SAR vested 42 452 Director of major subsidiary: N vd Westhuizen Nature and extent of interest in transaction: Direct/beneficial Number of SAR vested 102 785 Company secretary Nature and extent of interest in transaction: Direct/beneficial Number of matching Imperial DBP shares vested: 6 148 Total value of transaction: R347 669.40 Number of SAR vested 67 642 Prior written approval in terms of paragraph 3.66 of the Listings Requirements was obtained. All transactions were done off-market. Company Secretary RA Venter Sponsor: Merrill Lynch SA (Pty) Limited 25 September 2019 Date: 25/09/2019 02:22:00 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.