Trading Statement for the Year Ended 28 February 2015 Tradehold Limited (Incorporated in the Republic of South Africa) (Registration number 1970/009054/06) JSE code: TDH ISIN: ZAE000152658 (“the Company”) TRADING STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 2015 Net profit for the year ending 28 February 2015 is expected to increase by between 18% and 23% (increase approximating £1.2m to £1.5m), off a 2014 base of £6.392m, resulting in an expected increase in basic and diluted Earnings per Share of between 6% and 11% (increase approximating 0.3 pence to 0.5 pence), off a 2014 base of 4,6 pence per share. Core headline earnings, as defined by the entity, which excludes once-off items and non-operating items is expected to increase by between 75% and 80% (increase approximating £3.4m to £3.7m), off a 2014 base of £4.6m, resulting in an expected increase in core headline earnings per share of between 59% and 64% (increase approximating 1.9 pence to 2.1 pence), off a 2014 base of 3,3 pence per share. The inclusion of fair value losses on the non-core investments in listed shares of £0.9m (compared to a fair value gain of £1.7m in 2014) and the exclusion of fair value gains and profit on sale of core investment properties of £3.5m (compared to £0.2m in 2014) from the calculation of headline earnings, is expected to result in a decrease in headline earnings of between 12% and 17% (decrease approximating £0.7m to £1m), off a 2014 base of £6.189m. Consequently, headline Earnings per Share for the year ending 28 February 2015 is expected to be lower by between 22% and 27% (decrease approximating 1 pence to 1.2 pence) off a 2014 base of 4,5 pence per share. It is anticipated that the financial results for the year ending 28 February 2015 will be published on or about 29 May 2015. The above information has not been reviewed or reported on by the Company’s auditors. Cape Town 15 May 2015 Sponsor Bravura Capital (Pty) Ltd Date: 15/05/2015 12:19:00 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.