Trading statement B & W INSTRUMENTATION AND ELECTRICAL LIMITED Incorporated in the Republic of South Africa (Registration number 2001/008548/06) Share code: BWI ISIN: ZAE000098687 (“B&W” or “the Company”) TRADING STATEMENT In terms of the Listings Requirements of JSE Limited, companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the period to be reported on will differ by more than 20% from that of the previous corresponding period. Accordingly, a review of the preliminary financial results for the six month period ended 28 February 2013 by management has indicated that basic earnings per share and headline earnings per share of B&W are expected to be at least 20% lower than the earnings per share and headline earnings per share of 0.1 cents for the six month period ended 29 February 2012. A further trading statement will be published once the Company has a greater degree of certainty with regards to its financial results for the six month period ended 28 February 2013. The reason for this decrease is that there has been a general reduction in turnover, due to the postponement of multiple targeted projects, and the Madagascar Operations. In Madagascar, the Company has accepted a financial settlement substantially lower than had been accounted for. This decision was taken to avoid costly and protracted litigation, and bolster the Company’s immediate cash position. The effect of this will be an approximate reduction of 11 cents in earnings per share. The Company does, however, have a strong order book going forward, at improved margins. Consequently the Company expects a financial improvement by year-end, extending well into 2014. The financial information on which this trading statement is based has not been reviewed or reported on by B&W’s auditors. B&W’s interim financial results are expected to be released on SENS on or about 22 April 2013. Johannesburg 21 February 2013 Designated Adviser Merchantec Capital Date: 21/02/2013 09:00:00 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.