Detailed renewal of cautionary announcement and withdrawal of other cautionary announcements LABAT AFRICA LIMITED (Incorporated in the Republic of South Africa) (Registration number 1986/001616/06) (“Labat” or “the company”) ISIN Code: ZAE000018354 Share code: LAB DETAILED RENEWAL OF CAUTIONARY ANNOUNCEMENT AND WITHDRAWAL OF OTHER CAUTIONARY ANNOUNCEMENTS Shareholders of Labat are referred to the Company’s announcements of 21 February 2014, 7 April 2014, 29 April 2014, 16 May 2014, 27 June 2014, 8 August 2014, 19 September 2014, 3 November 2014 15 December 2014, 30 January 2015 and 13 March 2015 respectively, regarding Labat’s participation in various rail related initiatives and other logistic opportunities. As previously advised, the Company has been short-listed as a preferred bidder in relation to a potential acquisition of one of the other logistic opportunities. Shareholders are advised that, as a preferred bidder, the Company has signed a non-binding non-exclusive term sheet, with a certain party (“the Seller”) in terms of which Labat will acquire the Seller’s business assets and operations (“the Sale Assets”) (“Proposed Transaction”). In terms of the Proposed Transaction, Labat will acquire the Sale Assets for a purchase consideration of R627.5 million (six hundred and twenty seven million and five hundred thousand Rand) to be settled in cash. The Proposed Transaction is subject to certain conditions precedent being fulfilled. These include, but are not limited to, entering into legally binding comprehensive sale agreements within 60 days from 20 April 2015, which agreements will in turn provide for, inter alia, regulatory approvals as well as approval by the directors and shareholders of Labat and the Seller. Shareholders are cautioned that the implementation of the Proposed Transaction may result in a reverse takeover of Labat. The JSE Listings Requirements stipulate that the Company can only retain its listing following a reverse listing if the JSE is satisfied that the Company continues to qualify to be listed. Pursuant to the Proposed Transaction Labat will be making an application for a transfer of its listing to the Main Board. Given the size and importance of the Proposed Transaction, negotiations with other parties relating to the various rail-related initiatives in which the Company is involved have been put on hold until the Proposed Transaction is completed. As such the cautionary announcements relating to the rail related initiatives are, for the time-being, withdrawn. Shareholders are, however, advised to continue to exercise caution when dealing in the Company’s securities until a further announcement on the Proposed Transaction is made, as, if it is successfully concluded, it may have a material effect on the price at which the Company’s securities trade on the JSE. Johannesburg 28 April 2015 Sponsor Arbor Capital Sponsors Proprietary Limited Date: 28/04/2015 10:59:00 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.