Voluntary Trading Statement Insimbi Refractory and Alloy Supplies Limited (Incorporated in the Republic of South Africa) (Registration number: 2002/029821/06) Share code: ISB ISIN: ZAE000116828 (“Insimbi” or “the Company”) VOLUNTARY TRADING STATEMENT In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited, the board of directors of Insimbi (“the Board”) hereby provides shareholders with a voluntary trading statement of the Company’s results for the year ended 29 February 2016. The Company expects earnings per share (“EPS”) to be between 12 cents and 12.60 cents per share compared to EPS of 10.88 cents reported for the previous corresponding period, representing an increase of between 10% and 16% per share. The Company expects headline earnings per share (“HEPS”) to be between 12.25 cents and 12.85 cents per share compared to HEPS of 11.27 cents reported for the previous corresponding period, representing an increase of between 9% and 14% per share. The increase in EPS and HEPS was as a result of improved trading activity in the traditional sectors of Insimbi, as well as cost efficiencies and is despite the impairment of debts owing by Evraz Highveld Steel and Vandium Limited, as well as various non-recurring expenses relating to, amongst others, the acquisition of Polydrum Proprietary Limited, the change in bankers and the purchase of two new properties during the year. The financial information on which this trading statement is based has not been reviewed by the Company’s auditors. The Company’s financial results will be released on or about 20 May 2016. By order of the Board. Johannesburg 26 April 2016 Sponsor: Bridge Capital Advisors Proprietary Limited Date: 26/04/2016 09:37:00 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.