RESULTS OF THE NALEDI OFFER Dorbyl Limited Naledi Foundry of Republic (Incorporated in the of South Africa Republic of South Africa) Proprietary Limited Registration Number: (Incorporated in the 1911/001510/06 Republic of South Africa) Share Code: DLV ISIN: Registration Number: ZAE000002184 2012/194053/07 ("Company" or "Dorbyl") (“Naledi”) RESULTS OF THE NALEDI OFFER Shareholders are referred to the announcement on SENS on 7 December 2012 regarding the revised firm intention by Naledi to make an offer to Dorbyl shareholders to acquire up to 100% of the shares in the issued share capital of Dorbyl (“the Naledi Offer” or “the Offer”), the full details of which were contained in a joint circular that was posted to Shareholders on 18 December 2012 (“Joint Circular”). Shareholders are further referred to the finalisation announcement on SENS on 30 January 2013. The Naledi Offer closed at 12:00 on Friday, 15 February 2013 and shareholders are hereby advised that, in terms of the Naledi Offer, Naledi received the following acceptances from Dorbyl shareholders holding: 1. 18 344 315 Dorbyl ordinary shares representing 54.07% (excluding treasure shares) of the issued ordinary shares in Dorbyl; 2. 1 204 893 DLP1 preference shares representing 96.39% of the issued DLP1 preference shares; and 3. 157 757 DLVP preference shares representing 21.32% of the DLVP preference shares. As a result of the Naledi offer, Naledi holds the above percentages in the said classes of shares in Dorbyl. Johannesburg 18 February 2013 Sponsor: PSG Capital Proprietary Limited Date: 18/02/2013 05:06:00 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.