Trading statement Sun International Limited (Incorporated in the Republic of South Africa) (Registration number 1967/007528/06) Share code: SUI ISIN: ZAE000097580 ("the company" or "the group") TRADING STATEMENT The company is currently finalising its results for the six months ended 31 December 2015, which are expected to be released on the Stock Exchange News Service of the JSE Limited ("SENS") before the end of February 2016. In this regard, shareholders are advised that in comparison to the results of the corresponding reporting period of the previous half year ("last year"), provided to the market in a SENS announcement dated 23 February 2015: • EBITDA is expected to be between 2% below and 1% above the R1 611 million reported last year; • Diluted adjusted headline earnings per share ("AHEPS"), which the company considers the most meaningful measure of its performance, are likely to be between 309 and 351 cents per share (15% to 25%) lower than the 410 cents reported last year. • Loss per share ("LPS") is likely to be between 430 to 470 cents per share (- 151% to -155%), compared to the 849 cents earnings of last year; and • Headline loss per share ("HLPS") is likely to be between 450 to 490 cents per share (-221% to -232%), compared to the 372 cents earnings of last year. The LPS and HLPS are attributed to the following: • Raising of an accrual of R747 million for settlement of the Menlyn Maine note as a result of the Peermont group acquisition being unlikely to proceed and the settlement of the GoldRush legal challenge to Menlyn Maine. • An earn out payment of R195 million relating to the minority interest in Monticello that was acquired by the company last year as a result of Monticello achieving the earnings targets set out in the transactional agreements. • Subdued casino trading in the group’s core South African market, and interest and capital charges from the Ocean Sun Casino in Panama for the full period (opened September 2014) and the Sun Nao Casino in Colombia (opened May 2015). Monticello continues to trade well with casino revenue up 14% (6% in local currency). Partly offsetting the impact of the above charges is a foreign exchange gain on intercompany accounts. The difference between earnings per share and headline earnings per share for last year was largely attributable to the R462 million profit realised from the sale of a significant portion of the group’s shareholdings in the group’s operations located in Botswana, Lesotho, Namibia and Zambia. In deriving AHEPS, the foreign exchange profits on intercompany accounts, the Menlyn Maine settlement accruals and the Monticello earn out payment have been adjusted for. The financial information on which this trading statement is based has not been reviewed and reported on by the company’s external auditors. Sandton 12 February 2016 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 12/02/2016 05:05:00 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.