Trading statement and change of measurement criteria for trading statement purposes STELLAR CAPITAL PARTNERS LIMITED Incorporated in the Republic of South Africa (Registration number 1998/015580/06) Share code: SCP ISIN: ZAE000198586 (“Stellar Capital” or the “Company”) TRADING STATEMENT AND CHANGE OF MEASUREMENT CRITERIA FOR TRADING STATEMENT PURPOSES TRADING STATEMENT In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited (“Listings Requirements”), a company is required to publish a trading statement as soon as it is satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported upon next will differ by at least 20% from those of the previous corresponding period. Stellar Capital is currently finalising its financial results for the year ended 30 November 2015. In this regard, shareholders are advised that a reasonable degree of certainty exists that Stellar Capital’s results for the year ended 30 November 2015 will be within the following ranges: Expected Reported Fifteen months Year ended 30 Change ended 30 November 2015 November 2014 Cents Cents Net asset +0.73% to +10.73% 193 to 213 192 value per share TOTAL Headline loss +53.31% to +73.31% -7.60 to -4.34 -16.27 per share Loss per +76.94% to +96.94% -21.70 to -2.88 -94.12 share CONTINUING OPERATIONS Headline loss -172.01% to -152.01% -4.87 to -4.51 -1.79 per share Loss per -424.29% to -404.29% -9.54 to -9.18 -1.82 share DISCONTINUED OPERATIONS Headline loss +81.16% to +101.16% -2.73 to +0.17 -14.48 per share Loss per +86.83% to +106.83% -12.16 to +6.30 -92.30 share The forecast financial information on which this trading statement is based has not been reviewed and reported on by the Company’s auditors. Stellar Capital expects to publish its provisional audited condensed financial results for the year ended 30 November 2015 on the Stock Exchange News Service on or about Friday, 26 February 2016. CHANGE OF MEASUREMENT CRITERIA FOR TRADING STATEMENT PURPOSES As an investment holding company, the assessment of net asset value is a key performance measurement for Stellar Capital. In accordance with paragraph 3.4(b)(v) of the Listings Requirements, shareholders are advised that the board of directors of the Company has resolved to adopt net asset value per share ("NAVPS") for trading statement purposes for the forthcoming year ending 30 November 2016 and going forward. The Company undertakes to confirm this measurement criterion annually in the annual financial statements. Cape Town 11 February 2016 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 11/02/2016 09:00:00 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.