Trading statement for 6 months ending 30 September 2015 and revised trading statement for year ending 31 March 2016 ILLOVO SUGAR LIMITED (Incorporated in the Republic of South Africa) (Registration number 1906/000622/06) Share Code: ILV ISIN: ZAE000083846 (“Illovo”) or (“the Company”) TRADING STATEMENT FOR THE SIX MONTHS ENDING 30 SEPTEMBER 2015 AND REVISED TRADING STATEMENT FOR THE YEAR ENDING 31 MARCH 2016 Shareholders are advised that a reasonable degree of certainty exists that Illovo’s headline earnings per share (“heps”) and earnings per share (“eps”) for the six months ending 30 September 2015 will reflect a decrease compared to the six months ended 30 September 2014, as set out below. 30 September Expected Range 30 September 2015 2014 Actual (cents) (cents) HEPS 171.1 85.5 68.4 50% down 60% down EPS 171.3 42.8 25.7 75% down 85% down The heps decline is due mainly to the challenging conditions reported in our Preliminary Report for the year ended 31 March 2015 and is further impacted by the seasonal phasing of production and sales at the half year. The eps decline results primarily from our decision to write-off accumulated costs incurred in the development and registration of a furfural-based nematicide, due to the difficulties in obtaining registration with the US Environmental Protection Agency (EPA) for application on food crops (the “write-off”). Revised Trading Statement for the year ending 31 March 2016 Due to the write-off referred to above, eps for the year ending 31 March 2016 is expected to reflect a decline of between 50% (89.7 cents) and 70% (53.8 cents) compared to that for the year ended 31 March 2015 (179.4 cents). However, heps for the year ending 31 March 2016 is expected to remain in line with the range reported on 25 May 2015, ie, a decrease of between 25% (134.2 cents) and 45% (98.4 cents) compared to that for the period ended 31 March 2015 (179.0 cents). The financial information in this trading statement has not been reviewed and reported on by the Company’s auditors. The Company’s Interim Report for the period ending 30 September 2015 will be published on or about 30 November 2015. T S Munday Chairman Mount Edgecombe 18 September 2015 Sponsor J.P. Morgan Equities South Africa Proprietary Limited Date: 18/09/2015 07:05:00 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.