Update on disposal of Aveng Duraset Alrode business AVENG LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1944/018119/06) ISIN: ZAE000111829 SHARE CODE: AEG ("Aveng" or "the Group") Update on disposal of Aveng Duraset Alrode business Shareholders are referred to the SENS announcement released on 7 August 2019, when Aveng announced that it had entered into a fully funded sale of business agreement with Videx Wire Products Proprietary Limited (“Videx”) for the sale of the Aveng Duraset Alrode business (“Duraset Alrode”) as a going concern (“Proposed Transaction”). The Proposed Transaction was subject to a number of consents and conditions precedent, as outlined in the SENS announcement. All consents and conditions precedent have been fulfilled except the approval of the relevant competition authorities. Recently, the South African Competition Commission formally prohibited the Proposed Transaction. As a result, the agreement between Aveng and Videx has been terminated. Duraset Alrode was identified as non-core as part of the strategic review, undertaken by the Group in February 2018, and continues to be deemed as such. Therefore, Aveng will continue to explore alternatives to affect the disposal of the business and is currently in discussions with other interested parties. Jet Park 28 November 2019 JSE Sponsor UBS South Africa Proprietary Limited Legal advisors Baker McKenzie Enquiries: Michael Canterbury Group Executive: Strategy & Investor Relations Tel: 011 779 2979 Email: michael.canterbury@avenggroup.com Date: 28-11-2019 05:00:00 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.