Dealings in Shares by Directors ARGENT INDUSTRIAL LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1993/002054/06) Share code: ART ISIN: ZAE000019188 (“Argent” or “the Company”) DEALINGS IN SHARES BY DIRECTORS In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information regarding the dealing in securities is disclosed: NAME OF DIRECTOR A F Litschka COMPANY OF WHICH A DIRECTOR Argent STATUS: EXECUTIVE/NON-EXECUTIVE Executive director TYPE AND CLASS OF SECURITIES Ordinary shares NATURE OF TRANSACTION Sale of shares by a director (on-market transaction) DATE OF TRANSACTION 19 November 2019 PRICE PER SECURITY (1) R5.35 (2) R5.40 (3) R5.45 (4) R5.48 (5) R5.50 NUMBER OF SECURITIES TRANSACTED (1) 30 000 (2) 35 000 (3) 10 000 (4) 20 000 (5) 50 000 TOTAL RAND VALUE OF SECURITIES (1) R160 500 TRANSACTED (2) R189 000 (3) R54 500 (4) R109 600 (5) R275 000 NATURE AND EXTENT OF INTEREST IN Direct beneficial THE TRANSACTION NAME OF DIRECTOR S J Cox COMPANY OF WHICH A DIRECTOR Argent STATUS: EXECUTIVE/NON-EXECUTIVE Executive director TYPE AND CLASS OF SECURITIES Ordinary shares NATURE OF TRANSACTION Sale of shares by a director (on-market transaction) DATE OF TRANSACTION 19 November 2019 PRICE PER SECURITY (1) R5.45 (2) R5.40 NUMBER OF SECURITIES TRANSACTED (1) 40 000 (2) 30 000 TOTAL RAND VALUE OF SECURITIES (1) R218 000 TRANSACTED (2) R162 000 NATURE AND EXTENT OF INTEREST IN Direct beneficial THE TRANSACTION Clearance for the above was obtained in terms of paragraph 3.66 of the JSE Limited Listings Requirements. Umhlanga 21 November 2019 Sponsor PSG Capital Date: 21/11/2019 08:38:00 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.