Trading Update for the Quarter October 2013 to December 2013 PPC Ltd (Incorporated in the Republic of South Africa) (Company registration number: 1892/000667/06) JSE Code: PPC ISIN: ZAE 000170049 ("PPC" or the "Company") Trading update for the quarter October 2013 to December 2013 PPC’s expansion remains well on track and we are pleased to advise that construction of our new operation in Rwanda is progressing well with commissioning of the plant anticipated at the end of 2014. Construction work has commenced at our sites in Ethiopia and the Democratic Republic of the Congo. Additional opportunities are currently being pursued and further announcements will be made in the near term. In December 2013, PPC acquired a 69.3% stake in Safika Cement Holdings for R377 million which has added greater impetus to our local strategy of ‘Keeping the Home Fires Burning’. At the end of May 2014, Pronto Readymix will be wholly owned by PPC. The operating environment in South Africa remains tough with low single digit cement volume growth achieved in the first quarter, along with price increases. Both the inland and coastal regions recorded positive growth. Growth in cement volumes was also achieved in Zimbabwe with exports from that country showing a pleasing trend. Volumes in Botswana continue to be under pressure due to weak demand and intense competitor activity. Similarly, sales volumes in Mozambique remain weak due to the competitive environment. Nevertheless, some increases in selling prices were achieved in these territories. Performance in the lime division is beginning to show a positive trend while the South African aggregates division has achieved pleasing volume growth due to increased off take in road, retail and residential projects. While the South African trading environment will remain tough and highly competitive, we believe that our various response strategies have positioned PPC well. The release of major infrastructural projects in this country as well as Botswana and Zimbabwe would provide a key driver for demand of cement products. Normalised earnings for the first half of 2014 are anticipated to reflect a year-on-year improvement. Any forecast financial information on which this trading update is based has not been reviewed by the Company´s auditors. BL Sibiya Chairman of the board 27 January 2014 Sponsor Merrill Lynch South Africa (Pty) Ltd Date: 27/01/2014 12:00:00 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.