Trading statement Hudaco Industries Limited (“Hudaco” or “the company”) Incorporated in the Republic of South Africa Registration number: 1985/004617/06 Share code: HDC ISIN code: ZAE000003273 TRADING STATEMENT In terms of the Listings Requirements of the JSE Limited, companies are required to publish a trading statement as soon as they are satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported on next will be more than 20% different from those of the previous corresponding period. Accordingly, shareholders are advised that, for the half- year ended 31 May 2015, Hudaco’s comparable earnings per share (“CEPS”) are expected to be at least 30% higher and its headline earnings per share (“HEPS”) and basic earnings per share (“EPS”)at least 20% higher than for the half-year ended 31 May 2014. CEPS, HEPS and EPS are expected to be at least 547 cents (2014: CEPS 416 cents, HEPS and EPS 456 cents). When the board is satisfied that there is a reasonable degree of certainty as to the maximum expected half-year earnings, which are dependent on trading results for May 2015, it will provide guidance in that regard. Hudaco’s results for the interim period ended 31 May 2015 are expected to be announced on SENS on Friday 26 June 2015. This trading statement has not been reviewed or reported on by Hudaco’s external auditors. 20 May 2015 Sponsor: Nedbank Date: 20/05/2015 11:03:00 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.