Hudaco Industries Limited
(“Hudaco” or “the company”)
Incorporated in the Republic of South Africa
Registration number: 1985/004617/06
Share code: HDC
ISIN code: ZAE000003273


DIRECTORS’ DEALING IN SECURITIES


 Name of the company                  :     Hudaco

 Name of director                     :     GR Dunford

 Designation                          :     Chief executive

 Date of transactions 1 to 5          :     27 February 2023

 Nature of transactions 1 to 5        :     Exercise at a VWAP price of share
                                            appreciation rights with a strike
                                            price, under the Hudaco Industries
                                            Share Appreciation Plan (off market),
                                            as set out below.

                                            Settled by the delivery of Hudaco
                                            ordinary shares, purchased by the
                                            company (on market) at an average price
                                            of R173.03353 per share, with lowest
                                            and highest prices per share of R170.50
                                            and R173.50, respectively.


                                                      No of
                                                     shares
                 No of share                      purchased
                appreciation       Strike               and       Value of
  Transaction         rights        price         delivered    transaction
  number           exercised          (R)         to settle            (R)
  1                    35 280      117,27            10 781   1 865 474,46
  2                    68 460      125,10            17 747   3 070 826,02
  3                    91 992      102,93            35 924   6 216 056,45
  4                    29 490      125,24             7 620   1 318 515,48
  5                    23 352       92,04            10 625   1 838 481,23


 Date of transaction 6                :     28 February 2023

 Nature of transaction 6              :     Sale of 37 216 Hudaco ordinary shares
                                            at the current market price of R173.00
                                            per share (on market).

 Value of transaction 6:              :     R6 438 368.00

 Nature of interest                   :     Direct beneficial

 Written clearance obtained           :     Yes
Name of director                    :    CV Amoils

Designation                         :    Financial director

Date of transactions 1 to 5         :    25 February 2023

Nature of transactions 1 to 5       :    Exercise at a VWAP price of share
                                         appreciation rights with a strike
                                         price, under the Hudaco Industries
                                         Share Appreciation Plan (off market),
                                         as set out below.

                                         Settled by the delivery of Hudaco
                                         ordinary shares, purchased by the
                                         company (on market) at an average price
                                         of R173.03353 per share, with lowest
                                         and highest prices per share of R170.50
                                         and R173.50, respectively.



                                               Shares
                 No of share                purchased
                appreciation    Strike            and          Value of
  Transaction         rights     price   delivered to       transaction
  number           exercised       (R)         settle               (R)
  1                  14 977     117,27          4 577        791 974,46
  2                  31 948     125,10          8 282    1 433 063,68
  3                  43 638     102,93         17 041    2 948 664,35
  4                  14 942     125,24          3 861        668 082,45
  5                     8 299    92,04          3 776        653 374,60


Date of transaction 6               :    28 February 2023

Nature of transaction 6             :    Sale of 37 537 Hudaco ordinary shares
                                         at the current market price of R173.00
                                         per share (on market).

Value of transaction 6:             :    R6 493 901.00

Nature of interest                  :    Direct beneficial

Written clearance obtained          :    Yes

Edenvale
2 March 2023

Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited