Closed Period Share Repurchase Programme Insimbi Industrial Holdings Limited (Formerly Insimbi Refractory and Alloy Supplies Limited) (Incorporated in the Republic of South Africa) (Registration number: 2002/029821/06) Share code: ISB ISIN: ZAE000116828 (“Insimbi” or “the Company”) CLOSED PERIOD SHARE REPURCHASE PROGRAMME Shareholders are hereby advised that Insimbi has, via its subsidiary company, granted a mandate for the repurchase of its ordinary shares during its closed period. This period commences on 1 March 2020 and terminates on or about 31 May 2020 when the company is scheduled to publish its final results. In terms of an authority granted at the annual general meeting of shareholders held on Thursday, 4 July 2019 a maximum of three million (3 000 000) shares may be repurchased at a value not to exceed R3.27 million. Any repurchase of shares may not be executed at a price higher than 10% above the weighted average trading price for Insimbi ordinary shares for the five business days immediately preceding the date on which any such repurchase is affected. The mandate has been granted to a single agent who has full discretion in executing the Share Repurchase Programme. Johannesburg 28 February 2020 Sponsor: Bridge Capital Advisors Proprietary Limited Date: 28-02-2020 01:47:00 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.