Trading Statement CITY LODGE HOTELS LIMITED (“City Lodge”) (Reg. No. 1986/002864/06) (Incorporated in the Republic of South Africa) Share Code: CLH ISIN Code: ZAE 000117792 TRADING STATEMENT In terms of rule 3.4(b) of the JSE Listings Requirements, a listed company is required to publish a trading statement as soon as a reasonable degree of certainty exists that the financial results for the next reporting period to be reported on will differ by at least 20% from those of the previous corresponding period. In this regard it is anticipated that the range of earnings will be as indicated in the table below: Six months ended % Six months ended 31 December 2015 increase 31 December 2014 Basic earnings R161,2m – R167,9m 20% - 25% R134,3m Diluted basic 441,6 cents – 460,0 cents 20% - 25% 368,0 cents earnings per share Headline earnings R160,7m – R167,6m 16% - 21% R138,5m Diluted headline 439,9 cents – 458,8 cents 16% - 21% 379,2 cents earnings per share Normalised earnings R190,0m – R198,2m 15% - 20% R165,2m Diluted normalised 437,2 cents – 456,2 cents 15% - 20% 380,2 cents earnings per share The information on which this trading statement has been based has not been reviewed or reported on by the group’s auditors and it is anticipated that the results will be released on SENS on or about 18 February 2016. Bryanston 28 January 2016 Sponsor JP Morgan Equities South Africa (Proprietary) Limited Date: 28/01/2016 09:49:00 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.