Further trading statement Clover Industries Limited (Incorporated in the Republic of South Africa) (Registration number 2003/030429/06) Ordinary Share code: CLR NSX Ordinary Share code: CLN ISIN No: ZAE000152377 (“Clover” or “the Company” or “the Group”) FURTHER TRADING STATEMENT Shareholders are referred to the announcement released on the Stock Exchange News Service (“SENS”) on 6 July 2015 wherein the Company advised that headline earnings per share (“HEPS”) for the year ended 30 June 2015 would be at least 20% or 20,55 cents higher than HEPS of 102.7 cents reported for the year ended 30 June 2014. Similarly it was advised that Earnings per share (“EPS”) for the year ended 30 June 2015 would be at least 20% or 20,46 cents higher than EPS of 102.3 cents reported for the year ended 30 June 2014. Shareholders are now advised that the Company expects HEPS for the year ended 30 June 2015 to be between 64,2% or 65,9 cents and 74,2% or 76,2 cents higher than the HEPS of 102,7 cents reported for the year ended 30 June 2014. Further, EPS for the year ended 30 June 2015 will be between 81.3% or 83.2 cents and 91.3% or 93.4 cents higher than the EPS of 102,3 cents reported for the year ended 30 June 2014. The much improved performance can be mostly attributed to selling price increases across most categories albeit with some loss of sales volumes and market share. The gross and operating margins accordingly improved considerably. Additional sales volumes from the new yoghurt and custard products as well as from the recently acquired Nkunzi MilkyWay business contained the overall volume loss, compared with the previous year, to 1,7%. In addition the recognition in a group subsidiary of a deferred tax asset, not previously allowed, resulted in a significant reduction in the effective tax rate. The aforementioned contributed towards a 5.8% increase in HEPS and EPS respectively over the prior year. The forecast financial information on which this trading statement is based has not been reviewed and reported on by the Company’s external auditors. The Company expects to release its financial results for the year ended 30 June 2015 on SENS on or about 16 September 2015. Johannesburg 7 August 2015 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 07/08/2015 11:00:00 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.