Trading statement SPUR CORPORATION LIMITED (Incorporated in the Republic of South Africa) (Registration number 1998/000828/06) Share Code: SUR & ISIN: ZAE000022653 ("Spur" or "the company") TRADING STATEMENT In terms of the Listings Requirements of the JSE Limited, companies are required to publish a trading statement as soon as a reasonable degree of certainty exists that the financial results for the period to be reported upon next will differ by at least 20% from the financial results for the previous corresponding period. Accordingly, shareholders are advised that Spur is expecting to report earnings as follows: Six months Six months % to 31 to 31 change December December 2014 2013 EPS and 59.50 - 84.99 (25)% – diluted EPS 63.75 (30)% (cents) HEPS and 58.90 – 84.14 (25)% - diluted HEPS 63.10 (30)% (cents) EPS: earnings per share HEPS: headline earnings per share The decline in earnings is due to the accounting for the broad-based black economic empowerment equity transaction with Grand Parade Investments Limited effected on 30 October 2014 (“the GPI transaction”), in accordance with International Financial Reporting Standards. The transaction resulted in the issue of 10 848 093 new ordinary shares, and a share-based payment expense of R32.957 million for the period. The issue of shares has resulted in an increase in the weighted average number of shares in issue (on which EPS measures are calculated) from 85.633 million in the previous comparable period to 89.178 million shares for the period to 31 December 2014. Excluding the impact of the GPI transaction, HEPS is anticipated to increase by between 14.0% and 19.0% from 85.14 cents in the previous comparable period to between 97.05 and 101.31 cents for the period to 31 December 2014. Shareholders are further advised that, excluding the impact of the GPI transaction, the impact of the group’s long-term share-linked retention scheme, foreign exchange gains and losses and other one-off and exceptional items in the current and previous comparable periods, profit before income tax for the period to 31 December 2014 is expected to increase between 12.5% and 17.5% relative to the previous comparable period. The financial information on which this trading statement is based has not been reviewed or reported on by the company’s auditors. Spur’s interim consolidated results for the period ended 31 December 2014 are expected to be published on 26 February 2015. Cape Town 20 February 2015 Sponsor SASFIN CAPITAL A division of Sasfin Bank Limited Date: 20/02/2015 08:30:00 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.