Dealing in securities by directors and the company secretary Hudaco Industries Limited (“Hudaco” or “the company”) Incorporated in the Republic of South Africa Registration number: 1985/004617/06 Share code: HDC ISIN code: ZAE000003273 DEALING IN SECURITIES BY DIRECTORS AND THE COMPANY SECRETARY Name of the company : Hudaco Name of director : GR Dunford Designation : Chief Executive Number of share appreciation : 137 100 Hudaco share appreciation rights rights awarded and accepted Strike price : R117.27 per share, based on a 10-day VWAP at the date of award Value of transaction : R16 077 717 Vesting period : Subject to certain performance criteria, 1/3 of the allocation vests 3 years from the allocation date, with another 1/3 vesting in year 4 and the balance in year 5 Date of award : 26 July 2019 Date of acceptance : 30 July 2019 Nature of transaction : Award and acceptance of share appreciation rights in the normal course of employment (off market) Nature of interest : Direct beneficial Written clearance to deal : Not applicable Name of the company : Hudaco Name of director : CV Amoils Designation : Group Financial Director Number of share appreciation : 58 200 Hudaco share appreciation rights rights awarded and accepted Strike price : R117.27 per share, based on a 10-day VWAP at the date of award Value of transaction : R6 825 114 Vesting period : Subject to certain performance criteria, 1/3 of the allocation vests 3 years from the allocation date, with another 1/3 vesting in year 4 and the balance in year 5. Date of award : 26 July 2019 Date of acceptance : 30 July 2019 Nature of transaction : Award and acceptance of share appreciation rights in the normal course of employment (off market) Nature of interest : Direct beneficial Written clearance to deal : Not applicable Name of the company : Hudaco Name of director : LFJ Meiring Designation : Executive director Number of share appreciation : 56 000 Hudaco share appreciation rights rights awarded and accepted Strike price : R117.27 per share, based on a 10-day VWAP at date of award Value of transaction : R6 567 120 Vesting period : Subject to certain performance criteria, 1/3 of the allocation vests 3 years from the allocation date, with another 1/3 vesting in year 4 and the balance in year 5 Date of award : 26 July 2019 Date of acceptance : 30 July 2019 Nature of transaction : Award and acceptance of share appreciation rights in the normal course of employment (off market) Nature of interest : Direct beneficial Written clearance to deal : Not applicable Name of the company : Hudaco Name of officer : R van Zyl Designation : Group Company Secretary Number of share appreciation : 6 750 Hudaco share appreciation rights rights awarded and accepted Strike price : R117.27 per share, based on a 10-day VWAP at date of award Value of transaction : R791 572.50 Vesting period : Subject to certain performance criteria, 1/3 of the allocation vests 3 years from the allocation date, with another 1/3 vesting in year 4 and the balance in year 5 Date of award : 26 July 2019 Date of acceptance : 30 July 2019 Nature of transaction : Award and acceptance of share appreciation rights in the normal course of employment (off market) Nature of interest : Direct beneficial Written clearance to deal : Not applicable Edenvale 30 July 2019 Sponsor Nedbank Corporate and Investment Banking Date: 30/07/2019 01:40:00 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.