TRENCOR LIMITED - Changes to the board

Changes to the board

TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor" or "the company")

CHANGES TO THE BOARD

In compliance with paragraph 3.59 of the JSE Limited Listings Requirements, Trencor
announces that:

1.   At the forthcoming annual general meeting currently scheduled for 7 June 2016, and
     with effect therefrom:

-    Mr Neil Jowell will retire by rotation, but will not make himself available for re-
     election and, accordingly, will retire as chairman and executive director;
-    Mr Cecil Jowell will retire as an executive director; and
-    Mr David Morris Nurek, currently lead independent non-executive director, will be
     appointed as independent non-executive chairman in accordance with the board’s
     succession plans.

2.   With effect from 1 March 2016:

-    Mr Jimmy McQueen (currently financial director) is appointed as chief executive
     officer; and
-    Mr Ricardo Antonio Sieni CA (SA) (currently financial manager with over 30 years of
     service to the Trencor group) is appointed as financial director in the place of Mr
     Jimmy McQueen. Mr Sieni has also been appointed to the executive committee.

3.   Neil and Cecil intend to retire from the boards of all local and off-shore entities on
     which they serve, including that of Textainer Group Holdings Limited (NYSE: TGH)
     ("Textainer"), in which Trencor has a 48,3% beneficiary interest.


Appreciation:

Neil and Cecil, sons of the late Joe Jowell, Trencor’s founder, joined the company in the
1950s, have played a large role in the growth of the group from a small road transport
business to a leading nationwide carrier, and from there have steered the company
through a number of changes to adjust to changing circumstances.

In 1955 Trencor listed on the JSE. 1969/70 saw the branching out into road trailer
manufacturing through the acquisition of Henred Trailer Manufacturing Company, which
subsequently merged with Fruehauf South Africa to form Henred-Fruehauf Trailers.

1977 marked the beginning of manufacturing of dry freight marine cargo containers for
the export market. This was later expanded to include the manufacture of folding flatrack
containers and stainless steel tank containers. In 1979 Trencor commenced financing the
sale of containers on long-term credit. The aggregate sales value of containers so
exported from South Africa exceeded US$1 billion.

With the advent of globalisation and the freeing up of the South African economy, the
focus shifted to the current core activities of the group in the marine container industry.
Today, Textainer, operating since 1979, and listed on the New York Stock Exchange in
2007, is the world’s second largest lessor of intermodal containers based on fleet size,
with a total fleet of more than 2,1 million containers, representing more than 3,2 million
TEU (twenty foot equivalent units). Textainer leases containers to approximately 400
customers, including all of the world’s leading international shipping lines, and other
lessees. It also sells containers to more than 1 100 customers and provides services
worldwide via a network of regional and area offices, as well as independent depots.

The year 2015 marked two major milestones in Trencor’s history – 60 years of being
listed on the JSE and 85 years since the business was started in Springbok.

The board extends its immense appreciation to Neil and Cecil for their wisdom,
dedication and hard work over the period of some six decades. During their tenure
Trencor was twice named Sunday Times top company and Neil and Cecil were each
named Sunday Times businessman of the year.

Trencor Services (Pty) Ltd
Secretaries
25 February 2016

Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)

www.trencor.net

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