Dealing in Securities pursuant to long term share incentive scheme by Directors and Director of Major Subsidiary Spur Corporation Limited (Incorporated in the Republic of South Africa) (Registration number 1998/000828/06) Share code: SUR ISIN: ZAE 000022653 (“Spur Corporation” or “the Company”) Dealing in Securities pursuant to Long-term Share Incentive Schemes On 4 December 2015, at the annual general meeting of the Company, shareholders approved two long-term share incentive schemes. Details of the fourth tranche of awards granted in terms of these schemes are detailed below. Spur Group Forfeitable Share Plan (“FSP”) In terms of paragraph 3.63 to 3.74 of the JSE Limited (“JSE”) Listing Requirements, shareholders are advised that a director of a major subsidiary of Spur Corporation was awarded shares in the Company in terms of the FSP on 26 November 2019. The shares were accepted by the participant in question on the date the shares were traded, the salient details of which are set out below: Name: Kevin Robertson Designation: Director of major subsidiary Number of forfeitable shares awarded: 5 000 Spur Corporation ordinary shares Consideration: Nil Market price of shares on 26 November 2019: R26.67 (refer note 1) Value of transaction: R133 350 On market/off market: Off market Prior permission to deal: Obtained Vesting period: Refer note 2 Nature of interest: Direct beneficial (also refer note 2) Spur Group Share Appreciation Rights (“SAR”) Scheme In compliance with the requirements of paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, details of the following grants and acceptances of equity-settled SARs to a director of a major subsidiary and executive directors of the Company, which were awarded in terms of the SAR Scheme on 26 November 2019, should be noted: Name: Pierre van Tonder Designation: Executive Director Number of SARs awarded: 919 781 Strike price of SARs awarded (per right): R27.01 (being 10-day volume-weighted average price at 5 November 2019) Consideration Nil Grant date fair value of SAR (per right): R5.96 Value of transaction: R5 481 895 Number of shares Refer note 3 On market/off market: Off market Prior permission to deal: Obtained Vesting period: Refer note 3 Performance criteria: Refer note 4 Nature of interest: Direct beneficial (also refer note 3) Name: Mark Farrelly Designation: Executive Director Number of SARs awarded: 473 170 Strike price of SARs awarded (per right): R27.01 (being 10-day volume-weighted average price at 5 November 2019) Consideration Nil Grant date fair value of SAR (per right): R5.96 Value of transaction: R2 820 093 Number of shares Refer note 3 On market/off market: Off market Prior permission to deal: Obtained Vesting period: Refer note 3 Performance criteria: Refer note 4 Nature of interest: Direct beneficial (also refer note 3) Name: Phillip Matthee Designation: Executive Director Number of SARs awarded: 385 100 Strike price of SARs awarded (per right): R27.01 (being 10-day volume-weighted average price at 5 November 2019) Consideration Nil Grant date fair value of SAR (per right): R5.96 Value of transaction: R2 295 196 Number of shares Refer note 3 On market/off market: Off market Prior permission to deal: Obtained Vesting period: Refer note 3 Performance criteria: Refer note 4 Nature of interest: Direct beneficial (also refer note 3) Name: Kevin Robertson Designation: Director of major subsidiary Number of SARs awarded: 177 535 Strike price of SARs awarded (per right): R27.01 (being 10-day volume-weighted average price at 5 November 2019) Consideration Nil Grant date fair value of SAR (per right): R5.96 Value of transaction: R1 058 109 Number of shares Refer note 3 On market/off market: Off market Prior permission to deal: Obtained Vesting period: Refer note 3 Performance criteria: Refer note 4 Nature of interest: Direct beneficial (also refer note 3) Note 1 – Market price of FSP shares on 26 November 2019: - Volume-weighted average R26.67 per share - High R26.70 per share - Low R26.50 per share - No. of shares traded 26 November 2019 139 908 - Value of shares traded 26 November 2019 R3 730 815 Note 2 – FSP vesting period: The shares awarded on 26 November 2019 to the FSP participants are held by the group on behalf of these participants in escrow until the vesting date of 25 November 2022, subject to the fulfilment of the vesting criterion. During this vesting period, these participants are not entitled to dividends or to exercise any voting rights attached to the shares awarded. The vesting criterion is that each participant remains in the fulltime gainful employment of the group for the duration of the vesting period. Subsequent to 25 November 2022, provided the vesting criterion is fulfilled, these participants become unconditionally entitled to full direct beneficial ownership of the shares awarded (including the right to receive dividends and exercise any votes attached to the shares), but they will remain contractually bound to retain ownership of the shares for a further two-year period to 22 November 2024. Note 3 – SAR Scheme number of shares and vesting period: For each SAR awarded, the SAR Scheme participant is entitled to obtain the number of fully paid-for shares equivalent in value to the increase in the Company’s share price from the strike price to the 10- day volume-weighted average share price of the Company’s share on 25 November 2022, subject to the performance criteria (refer note 4) being applied. Should the 10-day volume-weighted average share price of the Company’s share on 25 November 2022 be below the strike price, the SARs lapse. Upon vesting of the SARs on 25 November 2022, the participants will enjoy full direct beneficial ownership of the resulting shares, but they will remain contractually bound to retain ownership of the shares for a further two-year period to 22 November 2024. Note 4 – SAR Scheme performance criteria: In order for SAR Scheme participants to benefit from the rights awarded, they need to remain in the fulltime gainful employment of the group for the initial vesting period to 25 November 2022. The number of rights that vest shall be calculated as: Number of SARS awarded x return on equity factor x adjusted headline earnings per share factor x personal performance factor, where: 1) a factor of a sliding scale of between 0% and 100% of the rights will vest where the group’s return on equity (as published in its financial results) is between 14.55% and 19.55% in the year of vesting; 2) a factor of a sliding scale of between 33.3% and 100% of the rights will vest where the group’s adjusted headline earnings per share increases by between CPI (Consumper Price Index) and CPI+6% per annum (nominal annual compounded annually) over the initial vesting period (no rights will vest where growth is below CPI); and 3) between 0% and 100% of the rights will vest based on the participant’s personal performance rating in the year of vesting. Cape Town 27 November 2019 Sponsor Sasfin Capital (a member of the Sasfin Group) Date: 27-11-2019 04:30:00 Produced by the JSE SENS Department. 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