Results of annual general meeting and comments by the CEO on 2015 1st quarter trading HUDACO INDUSTRIES LIMITED (Incorporated in the Republic of South Africa) Registration Number 1985/004617/06 Share Code: HDC ISIN: ZAE000003273 ("Hudaco" or "the company") Results of annual general meeting and comments by the CEO on 2015 first quarter trading Hudaco shareholders are advised that the voting results for the annual general meeting (“the AGM”) held at the registered offices of the Company today are set out below. Based on the voting results, all resolutions were passed by the requisite majority of Hudaco shareholders present in person or represented by proxy at the AGM. Shareholders should note that Ordinary Resolution Number 3.2 relating to the election of Mr PC Baloyi as member of the Audit and Risk Management Committee was withdrawn prior to the commencement of the AGM due to Mr Baloyi’s resignation as a director of Hudaco. Resolution Number of Percentage of For** Against** Abstained*** shares voted votable shares % % % in issue* % Ordinary Resolution Number 1.1 Re-election of Mr CV Amoils as 25 850 654 81.7 100.0 0 0.3 director Ordinary Resolution Number 1.2 Re-election of Miss D Naidoo as 25 850 654 81.7 100.0 0 0.3 director Ordinary Resolution Number 2 25 850 654 81.7 96.3 3.7 0.3 Re-appointment of external auditors Ordinary Resolution Number 3.1 Election of Mr SG Morris as member of the Audit and Risk Management 25 850 654 81.7 99.6 0.4 0.3 Committee Ordinary Resolution Number 3.3 Election of Miss D Naidoo as member 0.3 of the Audit and Risk Management 25 850 654 81.7 100.0 0 Committee Special Resolution Number 1 Approval of non-executive directors’ 25 850 654 81.7 100.0 0 0.3 remuneration Non-binding Resolution Number 1 Endorsement of Hudaco’s 25 850 654 81.7 73.2 26.8 0.3 remuneration policy Special Resolution Number 2 Authorisation the provision of 25 850 654 81.7 93.5 6.5 0.3 financial assistance to subsidiaries Special Resolution Number 3 General authority to repurchase up to 1 582 285 (5%) of the shares in 25 850 654 81.7 96.3 3.7 0.3 issue Ordinary Resolution Number 4 General authority to directors to allot and issue authorised but unissued 25 850 654 81.7 78.7 21.3 0.3 shares up to 1 582 285 (5%) of the shares in issue Ordinary Resolution Number 5 25 850 654 81.7 100.0 0 0.3 Signature of documents * Based on 31 645 703 shares (34 153 531 shares in issue as at the date of the AGM, minus 2 507 828 treasury shares held by a subsidiary of Hudaco.) ** As a percentage of number of shares voted. *** As a percentage of 31 645 703 votable shares in issue as at the date of the AGM. Comments by the CEO on 2015 first quarter trading During the meeting, Graham Dunford, chief executive of Hudaco, made the following comments on trading for the first quarter: “In our 2014 financial year results presentation we indicated that we were optimistic about growing earnings in 2015. This optimism was based on: contribution to earnings from acquisitions, continued export growth and a benefit from the turnaround in our Bearings International business. We also highlighted that Global Communications had not secured a major contract in the last financial year that it had hoped to secure. We are happy to report that, although trading in the first quarter continued to be tough, reflecting the general conditions in the economy, the Global Communication contract was secured in the first quarter and will be delivered in the second quarter of the year. Partquip, which was acquired with effect from 1 December 2014, is trading in line with expectations. The benefits in our Bearings International turnaround are coming through and the group’s February sales were encouraging.” Johannesburg 27 March 2015 Sponsor Nedbank Capital Date: 27/03/2015 02:17:00 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.