AEL: ALLIED ELECTRONICS CORPORATION LIMITED - Dealing in securities by a director - Allocation of Share Appreciation Rights in terms of the Altron 2009 Share Plan Dealing in securities by a director - Allocation of Share Appreciation Rights in terms of the Altron 2009 Share Plan Allied Electronics Corporation Limited (Registration number 1947/024583/06) (Incorporated in the Republic of South Africa) Share code: AEL ISIN: ZAE000191342 ("Altron") DEALING IN SECURITIES BY A DIRECTOR: ALLOCATION OF SHARE APPRECIATION RIGHTS IN TERMS OF THE ALTRON 2009 SHARE PLAN In compliance with rule 3.63 of the JSE Listings Requirements, the following information is disclosed: Name of director: M Nyati Designation: Chief Executive Name of company: Altron Allocation of share appreciation rights (SARs) in terms of The Altron 2009 Share Plan: Mr Nyati has been awarded 175 622 off-market allocation of SARs at an allocation price of R23.70 in accordance with the rules of The Altron 2009 Share Plan. The SARs are conditional on, inter alia, share price growth and the fulfilment of performance criteria, as imposed by the Altron Board. Subject to performance, vesting will occur in August 2022, August 2023 and August 2024. Allocation and acceptance date for above 29 August 2019 transaction: Nature of interest for above transaction: Direct beneficial Clearance to deal obtained: Yes Johannesburg 30 August 2019 Sponsor Investec Bank Limited Date: 30/08/2019 10:45:00 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.