Revised trading statement Hulamin Limited (Incorporated in the Republic of South Africa) (Registration number 1940/013924/06) Share code: HLM ISIN: ZAE000096210 ("Hulamin" or “the Company”) REVISED TRADING STATEMENT Shareholders are referred to the trading statement released on the Stock Exchange News Service (“SENS”) on 20 October 2014 in which they were advised that Hulamin expected its earnings per share (“EPS”) and headline earnings per share (“HEPS”)(together, “results”) for the year ended 31 December 2014 to exceed 70 cents per share, representing an improvement of more than 20% from the results of the previous corresponding reporting period. In the same announcement, the Company undertook to issue a further trading statement once it had reasonable certainty on the expected range of the improvement in EPS and HEPS. Accordingly, shareholders are advised that Hulamin expects EPS, HEPS and normalised EPS for the year ended 31 December 2014 to be within the ranges shown below: 31 Dec 2014 % Change 31 Dec 2013 Expectation Reported (cents) (cents) EPS 110 to 121 (126%) to (129%) (422)* HEPS 112 to 123 96% to 116% 57 Normalised EPS 109 to 120 73% to 90% 63 * Hulamin reported negative EPS of 422 cents for the 2013 year after taking account of a net impairment charge of R1.5 billion, equivalent to 479 cents per share. The forecast financial information on which this trading statement is based has not been reviewed and reported on by the Company’s external auditors. Hulamin's results for the year ending December 2014 are expected to be released on SENS on or about 23 February 2015. Pietermaritzburg 9 December 2014 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 09/12/2014 08:52:00 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.