Trading statement African Equity Empowerment Investments Limited (Incorporated in the Republic of South Africa) Registration number 1996/006093/06 Share code: AEE ISIN: ZAE0000195731 ("AEEI" or ‘‘the Company’’) TRADING STATEMENT In terms of the Listings Requirements of the JSE Limited, a listed company is required to publish a trading statement as soon as it is satisfied that a reasonable degree of certainty exists that its financial results for the current reporting period will differ by 20% or more compared to the same period in the prior year. AEEI shareholders are hereby advised that it is expected that the Group’s basic earnings per share for the 6 month period ended 29 February 2016 will be between 13.20 cents to 14.88 cents per share compared to the 8.39 cents in the prior comparative period, being an increase of between 57% and 77%. Shareholders are further advised that it is expected that the Group’s headline earnings per share for the 6 month period ended 29 February 2016 will be between 12.95 cents to 15.09 cents per share compared to the 10.72 cents in the prior comparative period, being an increase of between 21% and 41%. The abovementioned financial information on which this trading statement is based has not been reviewed or reported on by the Company’s auditors. The interim financial results of AEEI are expected to be released on SENS on or about 4 May 2016. Cape Town 20 April 2016 Sponsor PSG Capital Date: 20/04/2016 02:30:00 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.