Trading statement AFRICAN OXYGEN LIMITED (Incorporated in the Republic of South Africa) (Registration number 1927/000089/06) JSE code: AFX NSX code: AOX ISIN: ZAE000067120 (“Afrox” or the “Company”) TRADING STATEMENT In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, companies are required to publish a trading statement as soon as they are satisfied that, with a reasonable degree of certainty, the financial results for the current reporting period will differ by at least 20% from the financial results of the previous corresponding period. Afrox is in the process of finalising their results for the 6 months ended 30 June 2016 (“Results”) and shareholders are accordingly advised that the Company expects to report: - earnings per share (“EPS”) to be between 72 cents and 79 cents per share, the afore mentioned being 106% and 126% higher than the 35 cents per share for the previous corresponding period, respectively; and - headline earnings per share to be between 71 cents and 78 cents per share, the afore mentioned being 90% and 109% higher than the 37 cents per share for the previous corresponding period, respectively. The increase in EPS is largely due to improved margins, as a result of the restructuring initiatives initiated in 2015. The previous corresponding period includes expenditure in respect of the restructuring provisions, where such expenditure was not incurred in the 6 months ended 30 June 2016. The above information has not been reviewed or reported on by the Company’s auditors. The Results are expected to be published on or about 8 September 2016. Johannesburg 2 August 2016 Sponsor One Capital Date: 02/08/2016 09:30:00 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.