Trading statement ANDULELA INVESTMENT HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1950/037061/06) JSE share code: AND ISIN: ZAE000172870 (“Andulela” or “the company”) TRADING STATEMENT In terms of the JSE Listings Requirements, companies are required to publish a trading statement as soon as they are satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported upon next will differ by at least 20% from the financial results for the previous corresponding period. Accordingly, shareholders are advised that Andulela expects that its earnings and diluted earnings for the six months ended 30 June 2016 will be between 5.25 cents per share and 6.31 cents per share, compared to its loss and diluted loss of 15.53 cents per share for the six months ended 30 June 2015. Andulela also expects that its headline earnings and diluted headline earnings for the six months ended 30 June 2016 will be between 5.25 cents per share and 6.31 cents per share, compared to its headline loss and diluted headline loss of 15.53 cents per share for the six months ended 30 June 2015. The financial information on which this trading statement is based has not been reviewed or reported on by the company`s auditors. Andulela’s unaudited condensed consolidated interim financial statements for the six months ended 30 June 2016 are expected to be released on or about 28 September 2016. 26 September 2016 Sponsor Java Capital Date: 26/09/2016 03:42:00 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.