TSOGO SUN HOLDINGS LIMITED - Trading Statement for the six months ended 30 September 2015

Trading Statement for the six months ended 30 September 2015

Tsogo Sun Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 1989/002108/06)
Share code: TSH
ISIN: ZAE000156238
(“Tsogo Sun” or “the Company” or “the Group”)

TRADING STATEMENT FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2015

Shareholders are advised that Tsogo Sun is scheduled to release its financial results for the six months ended 30
September 2015 on or about 19 November 2015. In terms of paragraph 3.4(b) of the JSE Limited Listings
Requirements, listed 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 upon next will differ by
20% or more from those of the prior comparative period.

In line with previous reporting periods, the Company intends publishing earnings per share (“EPS”), headline
earnings per share (“HEPS”) and adjusted headline earnings per share (“Adjusted HEPS”) as well as earnings before
interest, income tax, depreciation, amortisation, property rentals, long term incentives and exceptional items
(“EBITDAR”) for the six months ended 30 September 2015 and for the prior corresponding reporting period. The
Company is of the opinion that the publication of Adjusted HEPS and EBITDAR assists the understanding of the
trading results.

Shareholders are reminded that the financial results for the six months ended 30 September 2014 included certain
non-recurring transactions totalling a net loss of R159 million. These non-recurring items have been adjusted for in
arriving at EBITDAR and Adjusted Headline Earnings for the prior comparative period. Accordingly, shareholders are
advised that:

    *   EBITDAR is expected to be between 5% and 7% higher (R2052 million and R2091 million) compared to the
        prior comparative period of R1954 million;

    *   EPS is expected to be between 26% and 30% higher (84.5 cents and 87.2 cents) compared to the prior
        comparative period EPS of 67.1 cents;

    *   HEPS is expected to be between 25% and 29% higher (84.4 cents and 87.1 cents) compared to the prior
        comparative period HEPS of 67.5 cents; and

    *   Adjusted HEPS is expected to be between 8% and 10% higher (87.4 cents and 89.0 cents) compared to the
        prior comparative period Adjusted HEPS of 80.9 cents.

The financial information on which this trading statement is based has not been reviewed and reported on by the
Company’s external auditors, PricewaterhouseCoopers Inc.

Fourways
11 November 2015

Sponsor
Deutsche Securities (SA) Proprietary Limited

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