Results of General Meeting CARGO CARRIERS LIMITED (Registration Number 1959/003254/06) Share code: CRG ISIN: ZAE000001764 ("Cargo Carriers" or "the Company" or “the Group”) RESULTS OF THE GENERAL MEETING HELD TO APPROVE THE EMPLOYEE SHARE PARTICIPATION PLAN Shareholders are advised that at the general meeting of shareholders held on Thursday, 5 May 2016, all the resolutions tabled at the meeting were passed by the requisite majority of shareholders. Details of the results of voting at the annual general meeting are as follows: - Total number of Cargo Carriers shares in issue at the date of the general meeting: 20 000 000 - Total number of Cargo Carriers shares that could have been voted at the general meeting on resolutions proposed pursuant to the provisions of the Listings Requirements (issued shares excluding 593 710 treasury shares): 19 406 290 - Total number of Cargo Carriers shares that were present/represented at the general meeting: 13 008 228, being 67.03% of the total number of ordinary shares that could have been voted on at the general meeting. Resolution proposed Abstain For Against: (% of issued Total Votes (excluding % % share capital) abstentions) Ordinary resolution number 1 – Specific Issue of shares for cash to EmployeeCo 13 003 597 4 631 0 99.96% 0.04% 0.00% 13 008 228 Special resolution number 1 – Approval of Financial Assistance to EmployeeCo 13 003 597 4 631 0 99.96% 0.04% 0.00% 13 008 228 Special resolution number 2 – Authority for EmployeeCo Specific Issue in terms of section 41(1) of the Companies Act 13 003 597 4 631 0 99.96% 0.04% 0.00% 13 008 228 Ordinary resolution number 2 – Authority granted to Directors 13 003 597 4 631 78 557 99.96% 0.04% 0.48% 13 008 228 Johannesburg 5 May 2016 Sponsor Arbor Capital Sponsors Proprietary Limited Date: 05/05/2016 05:40:00 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.