Trading Statement RARE HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration Number: 2002/025247/06 Share Code: RAR ISIN: ZAE000180626 ("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 the basic loss and headline loss for the current 6 month reporting period ended 31 December 2013 is expected to be between R3m and R5m, compared to the basic loss of R17.1m and the headline loss of R17.3m for the previous comparable period ended 31 December 2012. The aforementioned expected losses equates to a basic loss per share and headline loss per share of between 16.8 and 28.0 cents per share for the 6 month period ended 31 December 2013, compared to the basic loss per share of 127.0 cents and headline loss per share of 128.0 cents, reported for the previous comparable period, ended 31 December 2012 (“the Comparable Results”). Attention is drawn to the fact that, in the current reporting period, the weighted average number of shares in issue was 17,887,500 compared to a restated 13,535,900 for the previous comparable period, ended 31 December 2012, following the implementation of the share consolidation as initially announced on SENS on 25 July 2013 and effected on 25 November 2013. The Comparable Results disclosed has taken into account the restated number of shares. 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 26 February 2014 Designated advisor: PSG Capital (Pty) Limited Date: 26/02/2014 01:17:00 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.