Dealings In Company Shares - Grant Of Share Rights To Directors KAP INDUSTRIAL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1978/000181/06) Share code: KAP ISIN: ZAE000171963 (“KAP” or “the Company”) DEALINGS IN COMPANY SHARES - GRANT OF SHARE RIGHTS TO DIRECTORS In compliance with rules 3.63 to 3.74 of the JSE Limited Listings Requirements, shareholders are advised that off-market grants of share rights over ordinary shares of no par value in KAP (“KAP Shares”) have been made to certain executive directors of KAP and of its major subsidiaries in terms of the KAP Performance Share Rights Scheme (“the 2018 Grant”). The following information is disclosed in respect of the 2018 Grant: • Following approval of the 2018 Grant on 14 August 2018 by the KAP Human Resources & Remuneration Committee, letters of grant with an effective grant date of 1 November 2018, were issued to participants. • In all instances, the share rights are held in a direct beneficial capacity. • The share rights shall mature on the third anniversary of the grant date, i.e. on 1 November 2021, and vesting is subject to the achievement of relevant performance criteria. • The rights are for KAP Shares and will expire after the maturity date if the rights have not vested. • The following number of share rights were granted to the below-mentioned executive directors at R0.20 (twenty cents) per KAP Share: Name of director Number of rights granted Value (R) GN Chaplin* 1 578 289 315 657.80 FH Olivier* 959 770 191 954.00 SP Lunga** 396 112 79 222.40 LR Pollard** 611 494 122 298.80 G Victor** 594 508 118 901.60 VV Zondani** 243 949 48 789.80 RA de Beer*** 260 815 52 163.00 TR Nel*** 663 981 132 796.20 * Director of KAP Industrial Holdings Ltd ** Director of KAP Diversified Industrial (Pty) Ltd *** Director of Unitrans Holdings (Pty) Ltd The grant of the share rights has taken place in terms of the rules of the KAP Performance Share Rights Scheme and accordingly, no clearance as contemplated in Rule 3.66 of the Listings Requirements, is required. By order of the Board KAP Secretarial Services Proprietary Limited Stellenbosch 1 November 2018 Sponsor PSG Capital Date: 01/11/2018 03:00:00 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.