Dealings in Securities 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 2016 FSP Allocation As was disclosed in the 2019 Annual Integrated report, only 50% of the 2016 allocation of forfeitable shares have vested, as certain performance conditions were not met. The shares vested on 02 November 2019, at a price of R10.88 per share, the closing price of the previous trading date. The shares were transferred off- market to participants. 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: 421 250 ordinary shares Value of transaction: R4 583 200.00 Name of director: DF Grobler Company: Murray & Roberts Holdings Limited Shares delivered: 86 500 ordinary shares Value of transaction: R941 120.00 Name of company secretary: L Kok Company: Murray & Roberts Holdings Limited Shares delivered: 23 750 ordinary shares Value of transaction: R258 400.00 Name of subsidiary director: ST Harrison Subsidiary company: Murray & Roberts Limited Shares delivered: 124 000 ordinary shares Value of transaction: R1 349 120.00 Name of subsidiary director: IW Henstock Subsidiary company: Murray & Roberts Limited Shares delivered: 145 500 ordinary shares Value of transaction: R1 583 040.00 Name of subsidiary director: WT Mdluli Subsidiary company: Murray & Roberts Limited Shares delivered: 80 750 ordinary shares Value of transaction: R878 560.00 2. Trading of Murray & Roberts ordinary shares On 5 November 2019, participants of the FSP sold some of the shares that have vested through on-market trades. The interest in these transactions were directly and beneficially held by the executives. Name of director: HJ Laas Company: Murray & Roberts Holdings Limited Shares sold: 421 250 ordinary shares Highest price per share: R11.00 Lowest price per share: R11.00 Volume weighted average price per share: R11.00 Value of transaction: R4 633 750.00 Name of director: DF Grobler Company: Murray & Roberts Holdings Limited Shares sold: 40 223 ordinary shares Highest price per share: R11.00 Lowest price per share: R11.00 Volume weighted average price per share: R11.00 Value of transaction: R442 453.00 Name of company secretary: L Kok Company: Murray & Roberts Holdings Limited Shares sold: 23 750 ordinary shares Highest price per share: R11.00 Lowest price per share: R11.00 Volume weighted average price per share: R11.00 Value of transaction: R261 250.00 Name of subsidiary director: S Harrison Subsidiary company: Murray & Roberts Limited Shares sold: 57 660 ordinary shares Highest price per share: R11.00 Lowest price per share: R11.00 Volume weighted average price per share: R11.00 Value of transaction: R634 260.00 Name of subsidiary director: IW Henstock Subsidiary company: Murray & Roberts Limited Shares sold: 67 658 ordinary shares Highest price per share: R11.00 Lowest price per share: R11.00 Volume weighted average price per share: R11.00 Value of transaction: R744 238.00 Name of subsidiary director: WT Mdluli Subsidiary company: Murray & Roberts Limited Shares sold: 37 549 ordinary shares Highest price per share: R11.00 Lowest price per share: R11.00 Volume weighted average price per share: R11.00 Value of transaction: R413 039.00 3. Trading of Murray & Roberts ordinary shares on behalf of the FSP a) The FSP engaged in the following on-market transactions to settle its obligations towards the participants of the FSP: Date: 5 November 2019 Number of shares sold: 1 447 739 Highest price per share: R11.00 Lowest price per share: R11.00 Volume weighted average price per share: R11.00 Value of transaction: R15 925 129.00 All values are before brokerage fees. Clearance has been obtained in terms of paragraph 3.66 of the JSE Limited Listings Requirements. Bedfordview 06 November 2019 Sponsor: The Standard Bank of South Africa Limited Date: 06/11/2019 12:30:00 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.