Trading statement Distribution and Warehousing Network Limited (Incorporated in the Republic of South Africa) (Registration number 1984/008265/06) Share code: DAW & ISIN code: ZAE000018834 (“DAWN” or “the Company”) TRADING STATEMENT In compliance with section 3.4 (b) of the Listings Requirements of the JSE Limited, a listed company is required to publish a trading statement as soon as it becomes reasonably certain that the financial results for the period to be reported on next will show a 20% or more difference from the previous corresponding period. Accordingly, shareholders are advised that: Earnings per share for the financial year ended 31 March 2015 will be 547% higher than that achieved in the financial year ended 30 June 2014 (note that the financial year end of the Company was changed from June to March). This translates to earnings per share of 204.7 cents in relation to 31.6 cents per share for the previous financial year. Headline earnings per share for the financial year ended 31 March 2015 will be 151% lower than that achieved in the financial year ended 30 June 2014. This translates to a headline loss per share of 25.5 cents in relation to headline earnings per share of 50.2 cents for the previous financial year. The financial results on which this trading statement has been based, have been audited by DAWN’s auditors. Further information will be provided in the results announcement for the period ended 31 March 2015 which will be published on SENS on 25 June 2015. 25 June 2015 Johannesburg Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd Date: 25/06/2015 09:43:00 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.