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TRADING STATEMENT

In terms of section 3.4 (b) of the JSE Limited Listings Requirements, companies are required to publish a trading statement as soon as they are reasonably certain that the financial results for the current reporting period will be more than 20% different than that of the previous corresponding period.

Shareholders are hereby advised that a reasonable degree of certainty exists that for the year ended 31 March 2015, the Company will report basic earnings per share of between 3 679.3 cents and 3 587.1 cents, being an increase of between 298.3% and 288.3%, and headline earnings per share of between 1 013
cents and 918.6 cents, being between an increase of 7.1% and a decrease of 2.9%, as opposed to basic earnings per share of 923.8 cents and headline earnings per share of 946.2 cents for the prior year.

The significant increase in basic earnings per share is mainly as a result of the fair value adjustment to the carrying value of the group’s investment in Tsogo Sun Holdings Limited prior to it being consolidated in the results of the Company from September 2014.

The above information has not been reviewed or reported on by the Company`s auditors. The Company`s results are expected to be published on or about 21 May 2015.