Update Regarding the Proposed Restructuring of a Component of PPC’s First BBBEE Transaction Implemented in 2008 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”) UPDATE REGARDING THE PROPOSED RESTRUCTURING OF A COMPONENT OF PPC’S FIRST BBBEE TRANSACTION IMPLEMENTED IN 2008 PPC Shareholders (“Shareholders”) are referred to the transaction announcements released on the Stock Exchange News Service (“SENS”) on 7 February and 18 March 2014, wherein PPC advised its Shareholders of the proposed broad-based black economic empowerment (“BBBEE”) transaction involving the unwind of a component of the 2008 BBBEE transaction, a new BBBEE transaction and the creation of a new class of non-participating perpetual preference shares (“Transaction”). The Transaction was expected to be completed on 30 April 2014. Shareholders are now advised that the Transaction completion date has been postponed due to the finalization of Transaction funding arrangements. Shareholders will be advised of the new completion date with respect to the Transaction in due course. Sandton 6 May 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 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) Date: 06/05/2014 05:10:00 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.