Results of general meeting OAKBAY RESOURCES AND ENERGY LIMITED Incorporated in the Republic of South Africa (Registration number: 2009/021537/06 Share code: ORL ISIN: ZAE000196085 (“Oakbay Resources” or “the Company”) RESULTS OF THE GENERAL MEETING Shareholders are referred to the detailed terms announcement published by the Company dated 11 December 2015 relating to the acquisition by the Company through its 74% owned subsidiary Shiva Uranium Proprietary Limited (“Shiva”),of the business carried out by Tegeta Exploration and Resources Proprietary Limited (the “Acquisition”). In addition, shareholders are referred to the announcement published by Oakbay Resources on 25 January 2016, whereby shareholders were advised that the Circular, incorporating a notice convening a general meeting of shareholders at which an ordinary resolution would be considered for purposes of approving the Acquisition had been distributed to shareholders (“General Meeting”). Shareholders are hereby advised that the General Meeting was held on 23 February 2016 at 144 Katherine Street Grayston Ridge Office Park, Sandton, and that the ordinary resolution was passed by the requisite majority of Oakbay Resources shareholders. The detailed voting results of the General Meeting are set out below: Percentage FOR (Being Percentage the Percentage ABSTAINED Number percentage AGAINST (Being the of of the (Being the percentage shares Number total percentage of the present of shares of the total at the shares voted) total shares General voted shares entitled Resolution Meeting (1) voted) to vote) Ordinary 799 886 159 890 100% 0% 0% resolution: 289 390 Approval of the Acquisition Note (1) - The number of shares voted constitutes 19.99% of the total number of shares in issue Johannesburg 24 February 2016 Transaction Adviser PSG Capital JSE Sponsor Sasfin Capital (a division of Sasfin Bank Limited) Date: 24/02/2016 05:33:00 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.