Closed period share repurchase programme Afrimat Limited (Incorporated in the Republic of South Africa) (Registration number 2006/022534/06) Code: AFT ISIN: ZAE 000086302 ("Afrimat" or “the Company”) CLOSED PERIOD SHARE REPURCHASE PROGRAMME Shareholders are hereby advised that Afrimat has, via its subsidiary company, granted a mandate for the repurchase of its ordinary shares during its closed period. This closed period commences on 1 March 2019 and terminates on or about 23 May 2019 when the company is scheduled to publish its final results. In terms of the authority granted at the annual general meeting of shareholders held on Wednesday, 1 August 2018, a maximum of five hundred thousand [500 000] shares at a value not exceeding R15,0 million to be repurchased. After which one million [1 000 000] shares may be repurchased at a value not to exceed R25,0 million. Any repurchase of shares must be executed at a price not higher than 10% above the weighted average trading price for Afrimat ordinary shares for the five business days immediately preceding the date on which any such repurchase is effected. The mandate has been granted to a single agent who has full discretion in executing the Share Repurchase Programme. Cape Town 28 February 2019 Sponsor: Bridge Capital Advisors Proprietary Limited Date: 28/02/2019 11:10:00 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.