AFRIMAT LIMITED
 Incorporated in the Republic of South Africa
 (Registration number: 2006/022534/06)
 Share code: AFT
 ISIN: ZAE000086302
 (“Afrimat” or “the Company”)




ACCEPTANCE OF SHARES IN TERMS OF (“ITO”) THE AFRIMAT FORFEITABLE SHARE
PLAN AND SHARE APPRECIATION RIGHTS ITO THE SHARE APPRECIATION RIGHTS
SCHEME


In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the
following information is disclosed:

AFRIMAT FORFEITABLE SHARE PLAN (“FSP”)

 NAME OF DIRECTOR(S)                            Andries J van Heerden (1)
                                                Collin Ramukhubathi (2)
                                                Marthinus G Odendaal (3)
                                                Pieter GS De Wit (4)
 COMPANY OF WHICH A DIRECTOR                    Afrimat Limited (1 – 4)
 STATUS: EXECUTIVE/NON-EXECUTIVE                Executive (1 – 4)
 TYPE AND CLASS OF SECURITIES                   Ordinary shares (1 – 4)
 NATURE OF TRANSACTION                          Acceptance of award of ordinary shares in
                                                terms of the Afrimat Forfeitable Share Plan
                                                (off-market transaction) (1 – 4)
 DATE OF ACCEPTANCE OF AWARD                    19 May 2022 (1 – 4)
 DATE OF VESTING                                18 May 2025 (1 – 4)
                                                (subject   to the fulfilment       of   vesting
                                                conditions)
 DEEMED PRICE PER SHARE                         R65.14 (1 – 4)
                                                (based on the 30 day volume weighted
                                                average price (“VWAP”) on 18 May 2022)
 NUMBER OF SECURITIES ACQUIRED                  72 350 (1)
                                                47 600 (2)
                                                47 600 (3)
                                                47 600 (4)
 DEEMED TOTAL RAND VALUE OF                     R 4 712 879 (1)
 SECURITIES TRANSACTED                          R 3 100 664 (2)
                                                R 3 100 664 (3)
                                                R 3 100 664 (4)
                                                (based on the 30 day VWAP on 18 May
                                                2022)
 NATURE AND EXTENT OF INTEREST IN               Direct, beneficial
 THE TRANSACTION
SHARE APPRECIATION RIGHT (“SAR”) SCHEME
 NAME      OF    DIRECTOR(S)/      COMPANY Andries J van Heerden (1)
 SECRETARY                                      Collin Ramukhubathi (2)
                                                Marthinus G Odendaal (3)
                                                Pieter GS De Wit (4)
                                                Catharine Burger (5)
 COMPANY OF WHICH A DIRECTOR/                   Afrimat Limited (1 – 5)
 COMPANY SECRETARY
 STATUS: EXECUTIVE/NON-EXECUTIVE                Executive (1 – 5)
 TYPE AND CLASS OF SECURITIES                   Share Appreciation Rights (1 – 5)
 NATURE OF TRANSACTION                          Acceptance of award of share appreciation
                                                rights in terms of the Afrimat Share
                                                Appreciation Right Share Scheme (off-
                                                market transaction) (1 – 5)
 DATE OF ACCEPTANCE OF AWARD                    19 May 2022 (1 – 5)
 DATE OF VESTING                                18 May 2025 (1 – 5)
                                                (subject to fulfilment of performance
                                                conditions)
 AWARD PRICE PER RIGHT                          R65.14 (1 – 5)
                                                (based on the 30 day VWAP on 18 May
                                                2022)
 NUMBER OF SAR’s AWARDED                        210 000 (1)
                                                90 000 (2)
                                                90 000 (3)
                                                90 000 (4)
                                                15 000 (5)
 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.


Shareholders should note that the acceptances of the above awards were made on 19 May
2022, outside of any closed period, but were not announced on SENS at the time due to an
administrative oversight.


Cape Town
23 March 2023
Sponsor
Valeo Capital (Pty) Ltd