Award and Vesting of Rights in terms of Imperial Share Incentive Schemes Imperial Logistics Limited Incorporated in the Republic of South Africa (Registration number: 1946/021048/06) ISIN: ZAE000067211 Share code: IPL (‘Imperial’) AWARD AND VESTING OF RIGHTS IN TERMS OF IMPERIAL SHARE INCENTIVE SCHEMES In compliance with the Listings Requirements of the JSE Limited the following information is provided: AWARD OF RIGHTS IN TERMS OF IMPERIAL SHARE INCENTIVE SCHEMES Imperial has awarded Conditional Share Plan (CSP) rights to its executive directors and prescribed officers in respect of the 2020 financial year as set out in the table below. The CSP rights will vest in September 2023 and entitle a participant to receive Imperial shares subject to the achievement of performance conditions determined by the board of directors of the Company on allocation as follows: Condition Weighting ROIC between 1% and 3% in excess of WACC 50% HEPS vs peer group between 50th percentile and 50% upper quartile All awards were done off-market on Monday, 14 September 2020 and the Imperial share price used to calculate the total Face Value of the awards is an average VWAP for the two days before the date of award of R37.81 per share. The number of CSP rights awarded to each director is determined using an Expected Value, which is determined based on a valuation methodology taking into account the average VWAP of the two days before the date of award, and the estimated achievement of related performance conditions. The actual gains from CSP instruments upon vesting in 2023 will depend on the extent to which performance conditions are achieved and the share price at the time of vesting. Name Number of CSP Total Face Value Total Expected rights on award date Value on award date M Akoojee 540 319 R20 427 270 R11 235 000 JG de Beer 292 883 R11 072 718 R6 090 000 H Bicil* 384 127 R14 522 284 R7 987 252 J Truter* 259 940 R9 827 277 R5 405 000 E Hewitt* 277 734 R10 499 996 R5 775 000 *prescribed officer VESTING ON 15 SEPTEMBER 2020 OF SHARE INCENTIVE SCHEME SHARES AND RIGHTS AWARDED IN 2017 Imperial ordinary shares in the Deferred Bonus Plan (‘DBP’) vested at a ruling share price of R37.81 per share. DBP shares were acquired by scheme participants in 2017 on the open market prior to unbundling of Motus Holdings Limited (Motus) at the then ruling Imperial share price. In accordance with the amended Share Incentive Schemes (SIS) approved by shareholders of Imperial on unbundling of Motus, an equal number of matching Imperial and Motus ordinary shares are awarded on vesting at no further cost. After applying the related peer comparison and ROIC performance conditions 11.67% of Share Appreciation Rights (‘SAR’) vested at a strike price of R152.65 per SAR, which reflects the extent to which the performance conditions had been fulfilled. In accordance with the amendments to the SIS, the gains of participants in terms of the SAR scheme will be determined using the combined share price of Imperial and Motus at the time when each participant elects to exercise the vested rights, which may be done within two years after vesting. Director: M Akoojee Nature and extent of interest in transaction: Direct/beneficial Number of matching Imperial DBP shares vested: 39 880 Total value of transaction: R1 507 862.80 Number of SAR vested 7 767 Director: JG de Beer Nature and extent of interest in transaction: Direct/beneficial Number of SAR vested 15 507 Prescribed officer: J Truter Nature and extent of interest in transaction: Direct/beneficial Number of matching Imperial DBP shares vested: 5 062 Total value of transaction: R191 394.22 Number of SAR vested 6 768 Prior written approval in terms of paragraph 3.66 of the Listings Requirements was obtained. Company Secretary RA Venter 17 September 2020 BEDFORDVIEW Sponsor: Merrill Lynch South Africa (Pty) Limited Date: 17-09-2020 04:30:00 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.