Trading statement LABAT AFRICA LIMITED (Incorporated in the Republic of South Africa) (Registration number 1986/001616/06) (“Labat” or “the company”) ISIN Code: ZAE 000018354 Share code: LAB TRADING STATEMENT In terms of paragraph 3.4(b)(i) of the Listings Requirements of the Johannesburg Stock Exchange, listed companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the next period to be reported on will be more than 20% different from those of the previous corresponding period or from a profit forecast previously provided to the market in relation to such period. Shareholders are reminded that Labat changed its year-end from February to August. In that regard, this trading statement relates to the new year-end, being the six months ended 31 August 2015, the corresponding period in 2014 as well the year ended 28 February 2015. Accordingly, shareholders are advised that the company will be reporting a loss for the six months ended 31 August 2015 compared to the earnings per share and headline earnings per share for the prior six months ended 31 August 2014 as well as the year ended 28 February 2015 as follows: 28 February 2015 31 August 2015 % change Earnings per share 0,59 -1,00 -269,4% headline earnings per share 0,61 -1,00 -263.9% 31 August 2014 31 August 2015 % change Earnings per share 2,33 -0,01 -100,4% headline earnings per share 1,32 -1,00 -175,7% The Company expects to publish its reviewed results on Monday, 14 December 2015. The financial information, on which this trading statement is based, has not been reviewed or reported on by the company’s auditors. Johannesburg 11 December 2015 Designated Advisor Arbor Capital Sponsors Proprietary Limited Date: 11/12/2015 05:50:00 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.