TRENCOR LIMITED - Trading statement

Trading statement

TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
(“Trencor”)

                                  TRADING STATEMENT


Shareholders are advised that earnings per share (“EPS”), headline earnings per share (“HEPS”)
and Adjusted HEPS for the year ended 31 December 2014 are expected to be within the ranges
set out below:

                                                               2014                        2013
                                                        Expected        Change %          Actual
BASIC EPS                                              540 – 545        -31 to -30         785,7
HEPS                                                   578 – 583        -27 to -26         792,6
Deduct:
- Once-off gain on modification of debt terms                   -                           97,2
- Net unrealised foreign exchange translation
   gains                                                 25 – 30        -61 to -54          64,7
ADJUSTED HEPS (including the value of the
TAC option held by Halco)                              550 – 555        -13 to -12         630,7
- Deduct once-off gain on value of the TAC                     -                            82,9
   option
ADJUSTED HEPS (excluding the value of the
TAC option)                                            550 – 555         0,4 to 1,3        547,8
Year-end rate of exchange: SA rand to US dollar            11,54                           10,46
Average rate of exchange for the year                      10,78                            9,67


The results of Textainer Group Holdings Limited (NYSE: TGH), in which Trencor has a 48%
beneficiary interest, can be accessed on its website www.textainer.com.

The financial information on which this trading statement is based has not been reviewed and
reported on by Trencor’s independent auditors. The reviewed results in respect of the year ended
31 December 2014 are expected to be published on SENS on or about 20 February 2015.

On behalf of the Board

NI Jowell Chairman

17 February 2015

Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited)
www.trencor.net

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