Business update Eqstra Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 1998/011672/06) Share code: EQS, EQS02, EQS04, EQS05, EQS06, EQS07, EQS08A, EQS09 ISIN: ZAE000117123 (“Eqstra” or “the group”) BUSINESS UPDATE The board takes cognisance of the substantial decline in the Eqstra’s share price and believes that the price is not a true reflection of the group’s financial performance. The board is satisfied that both the Industrial Equipment and Fleet Management and Logistics divisions are performing as expected and management anticipates performance to be in line with the previous comparative period. The Contract Mining and Plant Rental division is going through a process of right sizing but retrenchment costs incurred will impact the first half’s performance. The benefits of the cost saving initiatives already implemented will benefit the division in the second half. The new project secured in Botswana is set to commence on 15 December 2014 and will add to revenue in the second half. Other new plant leasing contracts have also been secure during the period. Mr J Colling has been appointed as CEO for Contract Mining and will continue the turnaround initiatives with the support of the group CEO, Mr Hill. The group has embarked on various initiatives, including a slowdown in capital growth, in order to ensure that the group remains liquid whilst there are uncertainties in the capital market. These initiatives and the continued strong cash generation will ensure that the group has the required funds to support operations. The information, on which this business update is based, has not been reviewed and reported on by Eqstra’s external auditors. The statement is based on information available at the time of this publication. Kempton Park 15 December 2014 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 15/12/2014 12:19:00 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.