Update on the African Renaissance Gas Pipeline in Mozambique SACOIL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1993/000460/06) JSE Share Code: SCL AIM Share Code: SAC ISIN: ZAE000127460 (“SacOil” or “the Company”) UPDATE ON THE AFRICAN RENAISSANCE GAS PIPELINE IN MOZAMBIQUE Further to the announcement on 1 March, 2016, SacOil announces that a Joint Venture Agreement for the development of the African Renaissance Pipeline Project (“Project”) was signed in Maputo, Mozambique on Friday, April 22, 2016 by the following parties i.e. Empresa Nacional de Hidrocarbonetos (ENH), Profin Consulting Sociedade Anonima (Profin), China Petroleum Pipeline Bureau (CPP), China Petroleum & Technology Development Corporation (CPTDC) and Progas Investment Group (Pty) Limited. SacOil as a Company elected not to sign the Joint Venture Agreement at this time, while the Board evaluates the Agreement and the associated opportunity with regards to the Company’s participation in the Project. The Company will provide an update in due course. JSE Sponsor PSG Capital Proprietary Limited 25 April 2016 Enquiries: SacOil Holdings Limited +27 (0)10 591 2260 Damain Matroos finnCap Limited (Nominated adviser +44 (0)20 7220 0500 and broker) Christopher Raggett / James Thompson FirstEnergy Capital (Joint broker) +44 (0)20 7448 0200 Hugh Sanderson / David van Erp Buchanan (Financial PR adviser) +44 (0)20 7466 5000 Ben Romney / Helen Chan / Madeleine sacoil@buchanan.uk.com Seacombe About SacOil SacOil is a South African based independent African oil and gas company, dual-listed on the JSE and AIM, with business operations in Egypt, the Democratic Republic of Congo ("DRC"), the Republic of Malawi and the Republic of Botswana. The Public Investment Corporation (SOC) Limited (“PIC”) is the largest shareholder of SacOil. SacOil has partnered with the PIC, ENH, Profin and Chinese Pipeline Petroleum Engineering on a project that entails the construction of a gas pipeline from Mozambique to South Africa and the distribution and marketing of gas in southern Africa. SacOil continues to evaluate upstream, refining and downstream opportunities in other established and prolific hydrocarbon basins in Africa. For further information, please visit www.sacoilholdings.com. Date: 25/04/2016 08:00:00 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.