Dealing In Company Shares 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”) DEALING IN COMPANY SHARES 1. VESTING OF SHARE RIGHTS GRANTED IN 2015 The share rights granted to participants under the KAP Performance Share Rights Scheme (“the KAP Share Rights Scheme”) in December 2015 have vested with effect from 1 November 2018. Pursuant to this vesting, the following executive directors of KAP and of its major subsidiaries received KAP ordinary shares of no par value (“KAP Shares”) on 5 November 2018 in accordance with the provisions of the KAP Share Rights Scheme in an off-market transaction, as follows: Name of director Number of Market price Market value shares that (cents per (R) vested share) KJ Grové*@& 827 893 780 6 457 565.40 GN Chaplin*#$ (in respect of associate "Straalhoek 1 151 851 780 8 984 437.80 Sawmill (Pty) Ltd") FH Olivier*#$ (in respect of associate "Mashoweng 486 191 780 3 792 289.80 Investments (Pty) Ltd") SP Lunga**@ 275 892 780 2 151 957.60 LR Pollard**@ 607 739 780 4 740 364.20 G Victor**@ 607 739 780 4 740 364.20 TR Nel***@ 745 341 780 5 813 659.80 * Director of KAP Industrial Holdings Ltd ** Director of KAP Diversified Industrial (Pty) Ltd *** Director of Unitrans Holdings (Pty) Ltd & This vesting relates to share rights granted in 2015 when the director fulfilled an executive role in KAP, reduced on a pro rata basis in terms of the rules of the KAP Share Rights Scheme upon his retirement on 1 January 2017 # Indirect beneficial interests in the transaction @ Direct beneficial interests in the transaction $ A director of the associate The vesting of the share rights has taken place in terms of the rules of the 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 5 November 2018 Sponsor PSG Capital Date: 05/11/2018 05:00:00 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.