Trading Statement Metmar Limited Incorporated in the Republic of South Africa (Registration number: 1998/007269/06) Share code: MML ISIN code: ZAE000078747 (“the Company” or “Metmar”) TRADING STATEMENT In terms of the JSE Limited Listings Requirements, companies are required to publish a trading statement as soon as they are satisfied with a reasonable degree of certainty that the financial results of the period to be reported upon will differ by 20% or more from the financial results of the previous corresponding period. Accordingly, Metmar shareholders are advised that: • headline earnings per share (“HEPS”) for the six month period ended 31 August 2012 are expected to decrease by between 70% and 90% over those of the previous corresponding period; and • basic earnings per share (“EPS”) for the six month period ended 31 August 2012 are expected to decrease by between 64% and 84% over those of the previous corresponding period. The main contributors to the decrease in the Company’s HEPS and EPS are the decrease in commodity prices, increases in costs and higher financing charges during the six months ended 31 August 2012. HEPS and EPS were adversely affected by an increase in the weighted average number of shares in issue following the share issue for cash, on 2 July 2012. The financial information on which this trading statement is based has not been reported on by the Company's auditors. Shareholders are advised that the results for the six month period ended 31 August 2012 will be released before the end of October 2012. 15 October 2012 Bryanston Sponsor One Capital Date: 15/10/2012 05:05:00 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.