Results of General Meeting of PPC Shareholders Relating to PPC’S Proposed Restructuring of a Component of its First PPC Ltd Incorporated in the Republic of South Africa Registration number 1892/000667/06 JSE share code: PPC ZSE share code: PPC JSE ISIN ZAE000170049 (“PPC” or the “Company”) RESULTS OF GENERAL MEETING OF PPC SHAREHOLDERS RELATING TO PPC’S PROPOSED RESTRUCTURING OF A COMPONENT OF ITS FIRST BBBEE TRANSACTION IMPLEMENTED IN 2008 1. Introduction PPC Shareholders (Shareholders) are referred to the Company announcement released on the Stock Exchange News Service (SENS) on 7 February 2014, wherein PPC advised its Shareholders of the proposed broad-based black economic empowerment (BBBEE) transaction, the highlights of which are: * the unwind of a component of PPC’s 2008 BBBEE transaction (Unwind); * a new BBBEE transaction involving the issue of PPC Ordinary Shares to PPC Phakamani Trust; and * the creation of a new class of cumulative, non-participating perpetual preference shares (Preference Shares) to be used to raise capital to fund the Unwind, collectively referred to as the Transaction. 2. Results of General Meeting Shareholders are advised that, at the general meeting of Shareholders held at the Company’s head office on Tuesday, 18 March 2014, all ordinary and special resolutions proposed which include, inter alia; * the creation and issue of Preference Shares; * the specific repurchase and cancellation of the Unwind shares; * the amendment of the Memorandum of Incorporation of the Company; * the issue of PPC ordinary shares to PPC Phakamani Trust, in relation to a new BBBEE transaction, were approved by the requisite majority shareholders of PPC. The special resolutions will be lodged with the Companies and Intellectual Property Commission office. Sandton 18 March 2014 For enquiries: Jaco Snyman (Group Company Secretary) PPC Ltd Telephone +27 11 386 9000 Email jaco.snyman@ppc.co.za Financial adviser: Regiments Capital (Proprietary) Limited Sponsor: Merrill Lynch South Africa (Proprietary) Limited Legal adviser: Bowman Gilfillan Incorporated Tax adviser: Cliffe Dekker Hofmeyr Incorporated Preference Shares: Lead Arranger and Joint Book-runner The Standard Bank of South Africa Limited Preference Shares: Co-Arranger and Joint Book-runner Rand Merchant Bank (a division of FirstRand Bank Limited) Independent expert: KPMG Services (Proprietary) Limited Independent Reporting accountants: Deloitte & Touche Date: 18/03/2014 01:04:00 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.