Trading Statement CARGO CARRIERS LIMITED (Registration Number 1959/003254/06) Share code: CRG ISIN: ZAE000001764 ("CRG" or "the Company") TRADING STATEMENT In accordance with paragraph 3.4(b) of the Listings Requirements of the Johannesburg Stock Exchange, shareholders are advised that for the period 31August 2015: - Earnings per share (“EPS”) are expected to be between 103.9 cents per share and 111.7 cents per share, reflecting an increase of between 35% and 45%, when compared to the EPS of 77.0 cents per share reported for the prior period ended 31 August 2014; and - Headline earnings per share (“HEPS”) are expected to be between 90.5 cents per share and 98.0 cents per share, reflecting an increase of between 20% and 30% when compared to the HEPS of 75.4 cents per share reported for the prior period ended 31 August 2014. Earnings benefitted by an improved performance from the Company’s South African and Swaziland operations and the disposal of certain non-core assets. The financial information on which this trading statement is based has not been reviewed and reported on by the Company’s auditors. The Company expects its results for the period ended 31 August 2015 to be released on SENS on or about 27 October 2015. Johannesburg 23 October 2015 Sponsor Arbor Capital Sponsors Proprietary Limited Date: 23/10/2015 03:00:00 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.