Trading statement for the financial year ended 31 December 2015 Howden Africa Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 1996/002982/06) Share code: HWN ISIN: ZAE000010583 ("HAHL" or “the Company”) TRADING STATEMENT FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015 In terms of the Listings Requirements of the JSE Limited, a listed company is required to publish a trading statement as soon as it becomes aware that the financial results for the next period to be reported on will show a 20% or more difference from those of the previous corresponding period. HAHL hereby advises that for the year ended 31 December 2015, earnings per share ("EPS") and headline earnings per share (“HEPS”) are expected to decrease by between 10% and 30%, resulting in EPS of between 286.99 and 368.89 and HEPS of between 288.60 cents and 370.64 cents per share as compared with EPS 409.54 cents and HEPS 410.22 cents per share for the comparative period. This financial information has not been reviewed and reported on by the auditors of HAHL. The results for the year ended 31 December 2015 are expected to be published on or about 31 March 2016. 15 March 2016 Sponsor PricewaterhouseCoopers Corporate Finance (Pty) Limited Date: 15/03/2016 09:15:00 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.