Results of Annual General Meeting AVI Limited Registration Number 1944/017201/06 Share Code: AVI ISIN: ZAE000049433 (“AVI” or “Company”) RESULTS OF ANNUAL GENERAL MEETING Shareholders are advised that the voting results for the Annual General Meeting (“AGM”) of AVI held at 11h00 on Thursday, 7 November 2019 were as follows: Resolution Resolution Number of Percentage For*** Against*** Abstained* shares voted of shares in Number % % % issue* % 1 Ordinary resolution 272 122 030 81.03 100.00 0.00 0.35 Approval of annual financial statements 2 Ordinary resolution 272 331 600 81.09 99.99 0.01 0.28 Re-appointment of Ernst & Young Inc. as the external auditors 3 Ordinary resolution 266 455 696 79.34 94.71 5.29 2.03 Re-election of J Hersov as a director 4 Ordinary resolution 272 330 459 81.09 99.73 0.27 0.29 Re-election of M Koursaris as a director 5 Ordinary resolution 272 331 959 81.09 99.89 0.11 0.28 Re-election of S Crutchley as a director 6 Ordinary resolution 272 330 459 81.09 100.00 0.00 0.29 Election of A Muller as a director 7 Ordinary resolution 272 327 859 81.09 99.95 0.05 0.29 Appointment of MJ Bosman as a member and Chairman of the Audit and Risk Committee 8 Ordinary resolution 272 327 859 81.09 46.73 52.27 0.29 Appointment of J Hersov as a member of the Audit and Risk Committee 9 Ordinary resolution 272 327 859 81.09 100.00 0.00 0.29 Appointment of A Muller as a member of the Audit and Risk Committee 10 Special resolution 266 704 653 79.41 99.80 0.20 1.96 Increase in fees payable to non- executive directors, excluding the Chairman of the Board and foreign non- executive director 11 Special resolution 266 704 653 79.41 99.78 0.22 1.96 Increase in fees payable to the Chairman of the Board 12 Special resolution 266 704 653 79.41 99.79 0.21 1.96 Increase in fees payable to the foreign non-executive director 13 Special resolution 266 704 653 79.41 99.80 0.20 1.96 Increase in fees payable to members of the Remuneration, Nomination and Appointments Committee 14 Special resolution 266 704 653 79.41 99.80 0.20 1.96 Increase in fees payable to members of the Audit and Risk Committee 15 Special resolution 266 707 453 79.42 99.80 0.20 1.96 Increase in fees payable to members of the Social and Ethics Committee 16 Special resolution 266 704 653 79.41 99.80 0.20 1.96 Increase in fees payable to the Chairman of the Remuneration, Nomination and Appointments Committee 17 Special resolution 266 704 653 79.41 99.80 0.20 1.96 Increase in fees payable to the Chairman of the Audit and Risk Committee 18 Special resolution 266 707 453 79.42 99.80 0.20 1.96 Increase in fees payable to the Chairman of the Social and Ethics Committee 19 Special resolution 260 200 096 79.08** 99.65 0.35 1.99** General authority to buy-back shares 20 Ordinary Resolution 266 467 093 79.34 90.91 9.09 2.03 Non-binding advisory vote to endorse the remuneration policy Ordinary Resolution 21 266 463 252 79.34 94.70 5.30 2.03 Non-binding advisory vote to endorse the implementation report *Based on 335 837 451 shares in issue at the date of the AGM. **Based on 329 022 357 shares (excludes 6 815 094 share scheme shares) in issue at the date of the AGM. ***In relation to the total number of shares voted at the AGM. Based on the above results, all resolutions were passed by the requisite majority of AVI shareholders present in person or represented by proxy at the AGM, except for ordinary resolution 8: Appointment of J Hersov as a member of the Audit and Risk Committee. The AVI Remuneration, Nomination and Appointments Committee will address the composition of the Audit Committee in due course. Illovo Sandton 7 November 2019 Sponsor The Standard Bank of South Africa Limited Date: 07/11/2019 04:54:00 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.