Directors dealings in securities METAIR INVESTMENTS LIMITED (Reg No. 1948/031013/06) (Incorporated in the Republic of South Africa) Share code : MTA ISIN code : ZAE000090692 (“Metair” or the “Company”) DIRECTORS DEALINGS IN SECURITIES In accordance with the requirements of paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements (“Listings Requirements”), the following transactions by former directors of Metair and its major subsidiary (“Participants”), are hereby disclosed. 1. VESTING AND EXERCISE OF PERFORMANCE SHARES On 3 April 2018, 3 April 2019 and 3 April 2020, Metair ordinary shares (“Shares”) were conditionally granted (“Performance Shares”) to the Participants, in accordance with the Metair Investments Limited 2009 Share Plan (“Share Plan”). Certain of these Performance Shares have vested as a result of early retirement or termination of employment, which constitute a “No Fault Termination” in terms of the rules of the Share Plan, and have been exercised by the Participants pursuant to which the Participants received Shares at no cost, as per the table below. The nature and extent of the interest of the Participants is direct beneficial. DETAILS OF VESTING AND EXERCISE OF PERFORMANCE SHARES Total number of Shares exercised/settled 205 948 Deemed value of Performance Shares on exercise R3 148 537.50 at a price of R18.75, being the closing price on 30 December 2020 in respect of Mr Loock; and R712 987.50 at a price of R18.75, being the closing price on 31 December 2020 in respect of Mr Tulgar Class of Securities Ordinary shares Nature of transaction Settlement of Performance Shares Date of Award 3 April 2018, 3 April 2019 and 3 April 2020 Date of Performance Shares exercised/settled 31 December 2020 for Mr Loock and 1 January 2021 for Mr Tulgar Vesting period Performance Shares vest on the third anniversary of the award date to the extent that the Company’s performance criteria during the intervening period has been met. Subject to clause 9 of the Share Plan, and unless the board of directors of Metair (the “Board”) determines otherwise, the Performance Shares shall be settled with effect from each Participant’s date of termination of employment in respect of a “No Fault Termination” pursuant to the Share Plan (as is the case with the Participants) Transaction completed Off-market Clearance obtained in terms of paragraph 3.66 of the Listings Yes Requirements Details of the exercise and vesting of the Performance Shares are tabled below: Director Company Name No. of Performance Shares Deemed value of exercised/settled Performance Shares (Rand) Mr C.T. Loock * Metair 167 922 3 148 537.50 Mr T. Tulgar ** Mutlu Holding Anonim Sirketi 38 026 712 987.50 *A former director of Metair ** A former director of a major subsidiary of Metair 2. VESTING AND EXERCISE OF SHARE APPRECIATION RIGHTS On 27 November 2018, 152 663 share appreciation rights were allocated to Mr Loock and 13 751 to Mr Tulgar in accordance with the Share Plan (“Share Appreciation Rights” or “SARS”). These Share Appreciation Rights have vested and have been exercised by the Participants pursuant to which Mr Loock and Mr Tulgar received 8 549 and 770 Shares, respectively, at no cost, as per the table below. The nature and extent of the interest of the Participants is direct beneficial. DETAILS OF EXERCISE AND VESTING OF SHARE APPRECIATION RIGHTS Total number of Shares exercised/settled 9 319 Deemed value of Share Appreciation Rights on exercise R160 293.75 at a price of R18.75, being the closing price on 30 December 2020 in respect of Mr Loock; and R14 437.50 at a price of R18.75, being the closing price on 31 December 2020 in respect of Mr Tulgar Class of Securities Ordinary shares Nature of transaction Acquisition of Shares pursuant to the exercise of SARS at no cost Date of Award 27 November 2018 Date of Share Appreciation Rights exercised/settled 31 December 2020 for Mr Loock and 1 January 2021 for Mr Tulgar Vesting period In equal thirds on the 3rd, 4th and 5th anniversaries but need not be exercised until the 6th anniversary. Subject to clause 9 of the Share Plan, and unless the Board determines otherwise, SARS are deemed to have been vested and exercised with effect from a participant’s date of termination of employment in respect of a “No Fault Termination” pursuant to the Share Plan Transaction completed Off-market Clearance obtained in terms of paragraph 3.66 of the Listings Yes Requirements Johannesburg 4 January 2021 Sponsor One Capital Date: 04-01-2021 12:20:00 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. 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