Trading statement ANDULELA INVESTMENT HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1950/037061/06) JSE share code: AND ISIN: ZAE000172870 (“Andulela” or “the company”) TRADING STATEMENT In terms of the JSE Listings Requirements, companies are required to publish a trading statement as soon as they are satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported upon next will differ by at least 20% from the financial results for the previous corresponding period. Shareholders are referred to the company’s provisional results announcement for the year ended 31 December 2013 released on SENS on 31 March 2014, wherein the company mentioned that the Kilken Platinum Proprietary Limited (“Killen”) operations would be affected by the strike in the platinum industry. Kilken receives its tailings feed directly from the Amandelbult mine in Limpopo and the protracted strike in the platinum industry resulted in a significant decrease in Kilken’s production since the strike commenced on 23 January 2014. Accordingly, shareholders are advised that for the six months ending 30 June 2014 the company expects to be severely affected by the strike and expects that its basic earnings per share (“EPS”) and its headline earnings per share (“HEPS”) will decline by more than 20% compared to EPS and HEPS for the six months ending 30 June 2013 (“the comparable period”). There is not a reasonable degree of certainty, at this stage, as to the range by which the EPS and HEPS will be lower than the EPS and HEPS for the comparable period. An updated trading statement will be released as soon a reasonable degree of certainty is obtained. The financial information on which this trading statement is based has not been reviewed or reported on by the company`s auditors. 3 June 2014 Sponsor Java Capital Date: 03/06/2014 11:45:00 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.