OANDO EARNINGS FORECAST FOR THE FOURTH QUARTER ENDING 31 DECEMBER 2012. Oando PLC (Incorporated in Nigeria and registered as an external company in South Africa) External Registration number: RC 6474 Company registration number: 2005/038824/10 Share Code on the JSE Limited: OAO Share Code on the Nigerian Stock Exchange: UNTP ISIN: NGOANDO00002 (“Oando” or the “Company”) OANDO EARNINGS FORECAST FOR THE FOURTH QUARTER ENDING 31 DECEMBER 2012. In terms of the Listings Requirements and Rules governing listing on the Nigerian Stock Exchange, Oando is pleased to provide the following income statements forecast for the fourth quarter ending 31 December 2012: All figures in US$ „millions Q4 2012 Forecast Turnover 1049 Cost of sales (919) Gross margin 130 Operating expenses (61) Other operating Income 30 Operating profit 99 Finance costs (44) Depreciation (17) Profit before Tax 38 Income tax expense (18) Profit after tax 20 The earnings forecast has been prepared in compliance with Nigerian Statement of Accounting Standards (SAS) translated to US Dollars (US$). The earnings forecast reported in this announcement has neither been reviewed nor reported on by the auditors of the Company. 29 October 2012 Sandton JSE Sponsor Macquarie First South Capital (Proprietary) Limited OANDO PLC - EARNINGS FORECAST FOR THE FOURTH QUARTER ENDING 31 DECEMBER 2012 KEY ASSUMPTIONS 1 Exchange Rate NGN/USD - Interbank 160 2 Annual Consumer Inflation Rate (Y/Y%) 11.1% 3 Average borrowing rate 17.5% Average selling price per barrel of 4 crude $98/barrel Average selling price per scm of N32/scm 5 natural gas ($0.20/mscf) N97/litre 6 Average selling price per litre of PMS ($0.61/litre) N150/litre 7 Average selling price per litre of AGO (0.94/litre) Average operating day rate for swamp 8 rigs $104,900/day 9 Average efficiency rate for swamp rigs 98% 10 Tax Rate - Company Income Tax 30% 11 Tax Rate - Education Tax 2% 12 Tax Rate - Petroleum Profit Tax 50% Date: 29/10/2012 03:10:00 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.