Metair Investments : 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")

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 directors of Metair and its major subsidiaries and Metair's company secretary ("Participants") are hereby disclosed.

1. ALLOCATION OF PERFORMANCE SHARES

The terms and conditions of the performance shares ("Performance Shares") are:

Date of award	1 April 2022
Number of Performance Shares awarded to Participants	533 486
Price paid per Performance Share	Nil
Total value of transaction	Nil
Allocation price per Performance Share	R27.79 being the 20-day volume weighted average price ("VWAP") as at 31 March 2022
Class of securities	Ordinary shares
Nature of transaction	Acceptance of Performance Shares
Vesting date	1 April 2025
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.
Transaction completed:	Off-market
Clearance obtained in terms of paragraph 3.66 of the Listings Requirements	Yes

The details of the allocation of the Performance Shares per Participant are set out below. The nature of the interest of all Participants is direct beneficial.

Director	Company name	No. of Performance Shares accepted	Deemed value of Performance Shares (Rand)
Mr D. Seker	Mutlu Holding Anonim Sirketi	40 783	1 133 359.57
Mr B. Eser	Mutlu Holding Anonim Sirketi	16 932	470 540.28
Ms S. Emiroglu	Mutlu Holding Anonim Sirketi	17 410	483 823.90
Mr Y. Kaptan	Mutlu Holding Anonim Sirketi	18 385	510 919.15
Mr M. Isiltan	Mutlu Holding Anonim Sirketi	18 448	512 669.92
Mr D. Gunes	Mutlu Holding Anonim Sirketi	16 937	470 679.23
Mr T. Korlu	Mutlu Holding Anonim Sirketi	16 221	450 781.59
Mr B. Sen	Mutlu Holding Anonim Sirketi	17 099	475 181.21
Mr B. Erol	Mutlu Holding Anonim Sirketi	16 857	468 456.03
Mr I. Atay Rodoplu	Mutlu Holding Anonim Sirketi	10 916	303 355.64
Mr R. Haffejee	Metair	148 042	4 114 087.18
Mr S. Douwenga	Metair	99 569	2 767 022.51
Mr A. Jogia	Metair	20 429	567 721.91
Ms T. Marcus	Metair	26 988	749 996.52
Ms S.M. Vermaak	Metair	24 595	683 495.05
Ms M. Mail	Metair	12 724	353 599.96
Ms S. Banda	Metair	11 151	309 886.29

2. VESTING, EXERCISE AND SALE OF PERFORMANCE SHARES

On 3 April 2019, Performance Shares were conditionally granted to certain Participants, in accordance with the Metair Investments Limited 2009 Share Plan. These Performance Shares have vested and have been exercised by the Participants pursuant to which the Participants received Metair ordinary shares ("Shares") at no cost, as per the table below. The nature of the interest of the Participants is direct beneficial.

DETAILS OF VESTING AND EXERCISE OF PERFORMANCE SHARES
Total number of Shares exercised/settled	106 549
Deemed value of Performance Shares on exercise	R2 965 258.67 at a price of R27.83, being the 20-day VWAP as at 4 April 2022
Class of Securities	Ordinary shares
Nature of transaction	Settlement of Performance Shares
Date of Award	3 April 2019
Date of Performance Shares exercised/settled	5 April 2022
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.
Transaction completed:	Off-market
Clearance obtained in terms of paragraph 3.66 of the Listings Requirements	Yes

In order to facilitate the disposal of these Shares received by the Participants in an orderly fashion, the Participants have entered into a pooled sale in terms of which the Participant's Shares were disposed through arranged on-market trades on

5 April 2022, as per the table below:

DETAILS OF SALE OF SHARES
Nature of transaction	On-market sale of shares
Class of Share	Ordinary shares
Price per Share	Various different trades with the following price information: − VWAP of R30.0229; − highest price of R30.25; and − lowest price of R30.00.
Total number of Shares sold	106 549
Total value of Shares sold	R3 198 909.97
Clearance obtained in terms of paragraph 3.66 of the Listings Requirements	Yes

Details of the exercise of the Performance Shares, the related receipt of Shares and sale of Shares per Participant are tabled below:

Director	Company Name	No. of Performance Shares exercised	Deemed value of Performance Shares (Rand)	No. of Shares sold	Value of Shares sold (Rand)
Mr D. Seker	Mutlu Holding Anonim Sirketi	11 500	320 045.00	11 500	345 263.35
Mr Y. Kaptan	Mutlu Holding Anonim Sirketi	14 636	407 319.88	14 636	439 415.16
Ms S. Emiroglu	Mutlu Holding Anonim Sirketi	9 224	256 703.92	9 224	276 931.23
Mr S. Douwenga	Metair	43 871	1 220 929.93	43 871	1 317 134.65
Mr A. Jogia	Metair	12 774	355 500.42	12 774	383 512.52
Ms S.M. Vermaak	Metair	14 544	404 759.52	14 544	436 653.06

Johannesburg 6 April 2022

Sponsor One Capital