Trading Statement PPC Ltd (Incorporated in the Republic of South Africa) (Company registration number: 1892/000667/06) JSE Code: PPC ISIN: ZAE 000170049 ("PPC" or the "Company") TRADING STATEMENT In terms of the Listing Requirements of the JSE Limited, companies are required to publish a Trading Statement as soon as they become reasonably certain that the financial results for the period to be reported on next will differ by more than 20% from those of the previous corresponding period. The board of directors of PPC advises that its headline earnings per share for the six months ended 31 March 2015 is expected to be between 25% and 45% lower compared to the headline earnings as reported for the comparable period ended 31 March 2014, which translates to expected headline earnings of between 72 cents and 53 cents. Notwithstanding a weaker trading environment, the main contributors to the decline were a once off tax credit in the prior reporting year and an increase in finance costs in the current year. The information contained in this trading statement has not been reviewed or reported on by the company’s external auditors. PPC will release its interim results for the six month period ended 31 March 2015 on 19 May 2015. 26 January 2015 Sponsor Merrill Lynch South Africa (Pty) Limited PPC: Azola Lowan Tel: +27 (0) 11 386 9000 Azola.Lowan@ppc.co.za Financial Communications Advisor: Instinctif Partners Louise van der Merwe Mobile: +27 (0) 71 605 4294 Louise.VanDerMerwe@instinctif.com Date: 26/01/2015 12:20:00 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.