Trading Statement RARE HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration Number: 2002/025247/06 Share Code: RAR ISIN: ZAE000092714 ("Rare" or "the Company") TRADING STATEMENT In accordance with paragraph 3.4(b) of the Listing Requirements of the JSE Limited, companies are required to inform shareholders as soon as there is a reasonable degree of certainty that the earnings of the company are likely to vary by more than 20% compared to the previous reporting period. Shareholders are hereby advised that for the current reporting period, the basic loss is expected to be between R15.5m and R18.9m and that the headline loss is expected to be between R15.7m and R19.0m, compared to the basic loss of R71.3m and the headline loss of R68.9m for the 6 month period ended 31 December 2011. The aforementioned loss results in a basic loss per share which is expected to be between 1.14 and 1.40 cents per share and a headline loss per share which is expected to be between 1.15 cents and 1.41 cents per share, for the 6 month period ended 31 December 2012, compared to the basic loss per share of 28.34 cents and headline loss per share of 28.11 cents, reported for the previous comparable period, ended 31 December 2011. Attention is drawn to the fact that, in the current reporting period, the weighted average number of shares in issue was 1,353,590,000 compared to 292,449,000 for the previous comparable period, ended 31 December 2011, following the implementation of the claw-back offer as announced on SENS on 4 October 2012. The total number of shares in issue at the end of the current reporting period is 1,788,750,000 compared to 538,750,000 for the previous comparable period, ended 31 December 2011. The financial information in this trading statement has not been reviewed and reported on by the Company’s external auditors. By order of the Board Kliprivier 12 March 2013 Sponsor: PSG Capital (Pty) Limited Date: 12/03/2013 04:05:00 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.