Cautionary Announcement ZCI Limited (Bermudian registration number 661:1969 (South African registration number 1970/000023/10) JSE share code: ZCI ISIN: BMG9887P1068 Euronext share code: BMG9887P1068 ("ZCI" or "the Company") CAUTIONARY ANNOUNCEMENT Further to the announcements released on SENS on 4 February 2015, wherein the shareholders were advised of additional funding provided to its subsidiary, African Copper PLC (“ACU"), and on 7 May 2015, wherein the shareholders were informed of the early termination of mining at the Thakadu pit, the current status of working capital of ACU, additional funding received by ACU, and potential additional funding requirements in the near future, we draw shareholders’ attention to the following: ACU estimates that it will require further funding in June 2015, and therefore ACU and ZCI, acting together, are taking steps to commence the process of securing additional long term funding. Should ACU not secure additional funds and if current market conditions prevail, the Company believes that material uncertainty exists as to whether ACU may be able to continue as a going concern. ZCI will ensure shareholders are notified approapriately as soon as more infomration is made available to the Company. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until further announcement. Bermuda 7 May 2015 Sponsor: Bridge Capital Advisors (Pty) Limited Date: 07/05/2015 08:02:00 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.