Dealing in securities by Directors, Company Secretary and Murray & Roberts Holdings Forfeitable Share Plan (“FSP”) MURRAY & ROBERTS HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration number 1948/029826/06 JSE Share Code: MUR ISIN: ZAE000073441 (“Murray & Roberts” or “Company”) Dealing in securities by Directors, Company Secretary and Murray & Roberts Holdings Forfeitable Share Plan (“FSP”) 1. Vesting of 2015 FSP Allocation As will be disclosed in the Company’s 2018 Annual Integrated report, only 50% of the 2015 allocation of forfeitable shares have vested, as certain of the performance conditions were not met. The shares vested on 15 September 2018, at a price of R16.14 per share, and the shares were transferred off-market to participants on 18 September 2018. The interests in these transactions will be directly and beneficially held by the respective executives. Name of director: HJ Laas Company: Murray & Roberts Holdings Limited Shares delivered: 380 000 ordinary shares Value of transaction: R6 133 200.00 Name of director: DF Grobler Company: Murray & Roberts Holdings Limited Shares delivered: 74 500 ordinary shares Value of transaction: R1 202 430.00 Name of company secretary: L Kok Company: Murray & Roberts Holdings Limited Shares delivered: 21 000 ordinary shares Value of transaction: R338 940.00 Name of subsidiary director: ST Harrison Subsidiary company: Murray & Roberts Limited Shares delivered: 73 500 ordinary shares Value of transaction: R1 186 290.00 Name of subsidiary director: IW Henstock Subsidiary company: Murray & Roberts Limited Shares delivered: 131 250 ordinary shares Value of transaction: R2 118 375.00 Name of subsidiary director: WT Mdluli Subsidiary company: Murray & Roberts Limited Shares delivered: 72 750.00 Value of transaction: R1 174 185 2. Trading of Murray & Roberts ordinary shares To settle the tax arising from the 2015 FSP vesting event on 15 September 2018, the following executives sold a portion of the vested shares through on-market trades on 18 September 2018. The interests in these transactions were directly and beneficially held by the respective executives. Name of director: HJ Laas Shares sold: 176 700 ordinary shares Price per share: R16.0744 Value of transaction: R2 840 346.48 Name of director: DF Grobler Shares sold: 34 642 ordinary shares Price per share: R16.0744 Value of transaction: R556 849.36 Name of company secretary: L Kok Shares sold: 9 765 ordinary shares Price per share: R16.0744 Value of transaction: R156 966.52 Name of subsidiary director: IW Henstock Subsidiary company: Murray & Roberts Limited Shares sold: 61 031 ordinary shares Price per share: R16.0744 Value of transaction: R981 036.71 Name of subsidiary director: S Harrison Subsidiary company: Murray & Roberts Limited Shares sold: 34 177 ordinary shares Price per share: R16.0744 Value of transaction: R549 374.77 Name of subsidiary director: WT Mdluli Subsidiary company: Murray & Roberts Limited Shares sold: 33 828 ordinary shares Price per share: R16.0744 Value of transaction: R543 765.80 3. Trading of Murray & Roberts ordinary shares on behalf of the FSP a) To settle its obligations towards the participants of the 2018 FSP allocation, the FSP engaged in the following transactions: Forfeited shares - book-over transaction on market: Date: 18 September 2018 Number of shares sold: 1 401 365 Volume weighted average price per share: R16.0744 Value of transaction: R22 526 101.56 Date: 18 September 2018 Number of shares bought: 1 401 365 Volume weighted average price per share: R16.0744 Value of transaction: R22 526 101.56 b) An off-market transfer of 760 434 treasury shares was made on 18 September 2018 to the FSP to settle the balance of the 2018 FSP allocation. The deemed value of this transaction amounts to R12 223 520.29 based on a Murray & Roberts share price of R16.0744. All values are before brokerage fees. Clearance has been obtained in terms of paragraph 3.66 of the JSE Limited Listings Requirements. Bedfordview 20 September 2018 Sponsor: Deutsche Securities (SA) Proprietary Limited Date: 20/09/2018 02:00:00 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.