Delay in posting of circular to shareholders Insimbi Refractory and Alloy Supplies Limited (Incorporated in the Republic of South Africa) (Registration number: 2002/029821/06) Share code: ISB ISIN: ZAE000116828 (“Insimbi” or “the Company”) DELAY IN POSTING OF CIRCULAR TO SHAREHOLDERS Shareholders are referred to the announcements made on SENS dated 1 August 2014, relating to the specific repurchase Insimbi shares by the Company. Insimbi shareholders are advised that the posting of the circular to shareholders referred to in the above mentioned announcement has been delayed. The delay is due to the restatement that was made in the interim financial results for the six months ended 31 August 2014, details of which are contained in the SENS announcement released on 20 November 2014. As a result of the restatement new pro forma financial information has had to be compiled for inclusion in the circular ultimately delaying the posting of the circular. It is anticipated that the process should be completed and the circular posted to shareholders by the end of January 2015. Shareholders will be notified of any changes to the anticipated timetable as they occur. Johannesburg 12 December 2014 Sponsor: Bridge Capital Advisors (Pty) Limited Date: 12/12/2014 03:00:00 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.