Further trading statement LABAT AFRICA LIMITED (Incorporated in the Republic of South Africa) (Registration number 1986/001616/06) (“Labat” or “the Company”) ISIN Code: ZAE 000018354 Share code: LAB FURTHER TRADING STATEMENT In terms of paragraph 3.4(b)(i) of the Listings Requirements of the Johannesburg Stock Exchange, listed companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the next period to be reported on will be more than 20% different from those of the previous corresponding period or from a profit forecast previously provided to the market in relation to such period. Shareholders are referred to the initial trading statement published on 13 January 2016 and the update announcement dated 13 April 2016. In the latter, shareholders were advised of Labat’s decision not to pursue the proposed acquisition of Reinhardt Transport Group Proprietary Limited any further due to the reasons stated therein. Shareholders are advised that the earnings and headline earnings per share for the six months ended 29 February 2016 will be compared to the earnings and headline earning for the six months ended 31 August 2016 (“Comparable Period”) due to a change in year end from February to August during 2015. Accordingly, shareholders are advised of the following relating to the Company’s earnings per share and headline earnings per share: - The earnings for the six months ended 29 February 2016 will be 2.28 cents per share, representing an increase of 383% on the loss per share of -1.00 cents for the Comparable Period; - The headline earnings for the six months ended 29 February 2016 will also be 2.83 cents per share, representing an increase of 370% on the headline loss per share of -1.05 cents for the comparable period; - The computation for earnings per share and headline earnings per share is based on 259 202 297 shares in issue for the year (255 892 000 for the Comparable Period). The number of shares in issue as at 29 February 2016 was 259 202 297, of which 2 810 023 are treasury shares. The main reason for the improvement in results is as a result of the directors’ decision to raise a deferred taxation asset on a portion of the assessed loss in its major operating subsidiary, which has been turned around and is now generating sustainable profits. The raising of the deferred taxation asset has been based on a five year budget for this entity. The financial information, on which this trading statement is based, has not been reviewed or reported on by the Company’s auditors. The results for the six months ended 29 February 2016 are expected to be published on or before 14 June 2016. Johannesburg 1 June 2016 Sponsor Arbor Capital Sponsors Proprietary Limited Date: 01/06/2016 05:26:00 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.