Restatement of Financial Information and Trading Statement PSV HOLDINGS LIMITED Incorporated in the Republic of South Africa (Registration number 1998/004365/06) Share code: PSV ISIN: ZAE000078705 ("PSV") RESTATEMENT OF FINANCIAL INFORMATION AND TRADING STATEMENT RESTATEMENT OF FINANCIAL INFORMATION The financial results for the year ended 28 February 2015 have been restated as a result of the sale of Turbo Zambia and the closing of Turbo DRC (hereinafter referred to as the “discontinued operations”). As a result of the discontinued operations, the effect on the financial results for the year ended 28 February 2015 are as follows: As previously re-presented on Percentage Restated amount 2 November 2015 change Net asset value per share (cents) 27.64 27.64 nil% Net tangible asset value per share (cents) 14.04 14.04 nil% Basic loss per share (cents) (10.31) (10.31) nil% Basic loss per share (cents) – continuing operations (8.58) (10.98) 21.9% Headline loss per share (cents) (9.11) (9.11) nil% Headline loss per share (cents) – continuing operations (7.96) (9.78) 18.6% Diluted loss per share (cents) (10.25) (10.25) nil% Diluted earnings/(loss) per share (cents) – continuing operations (8.54) 0.67 (1 374.6%) Diluted headline loss per share (cents) (9.06) (9.06) nil% Diluted headline loss per share (cents) – continuing operations (7.91) (9.73) 18.7% TRADING STATEMENT In terms of the Listings Requirements of JSE Limited, companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the period to be reported on will differ by more than 20% from that of the previous corresponding period. Accordingly, a review of the financial results for the year ended 29 February 2016 by management has indicated that: - the loss per share is expected to be between 16.40 cents and 14.34 cents, reflecting an increase in the loss of between 59.1% and 39.1%; - the headline loss per share is expected to be between 9.11 cents and 7.29 cents, reflecting a decrease in the loss of between 0% and 20.0%; - the basic loss per share from continuing operations is expected to be between 8.19 cents and 6.47 cents, reflecting a decrease in the loss of between 4.6% and 24.6%; and - the headline loss per share from continuing operations is expected to be between 3.75 cents and 2.15 cents, reflecting a decrease in the loss of between 52.9% and 72.9%; compared to the basic loss per share of 10.31 cents; the basic headline loss per share of 9.11 cents; the basic loss per share from continuing operations of 8.58 cents and the headline loss per share from continuing operations of 7.96 cents for the for the year ended 28 February 2015. The financial information on which this trading statement is based has not been reviewed or reported on by PSV’s auditors. PSV's audited financial results are expected to be released on SENS on or about 31 May 2016. Johannesburg 25 May 2016 Designated Advisor Merchantec Capital Date: 25/05/2016 05:38:00 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.