Trading statement for the year ended 31 August 2016 Trematon Capital Investments Limited (Incorporated in the Republic of South Africa) Registration number 1997/008691/06 Share code: TMT ISIN: ZAE000013991 ("Trematon" or "the Trematon group") TRADING STATEMENT FOR THE YEAR ENDED 31 AUGUST 2016 Shareholders are hereby advised that the Trematon group is currently finalising its annual final results for the year ended 31 August 2016 (“current year”). The Trematon group expects: - basic earnings per share for the year ended 31 August 2016 to be between 22.5 cents and 23.0 cents, which is between 54% and 52% lower than that for the year ended 31 August 2015 ("the previous comparable period”) of 48.4 cents; and - headline earnings per share (“HEPS”) for the year ended 31 August 2016 to be between 1.5 cents and 1.8 cents, which is between 87% and 84% lower than that of the previous comparable period's HEPS of 11.2 cents; and - net asset value per share for the year ended 31 August 2016 to be between 253 cents and 257 cents, which is between 8% and 9% higher than that of the previous comparable period’s 235 cents; and - intrinsic net asset value per share for the year ended 31 August 2016 to be between 370 cents and 365 cents, which is between 2% and 1% higher than that of the previous comparable period’s 362 cents. The reason for the decrease in earnings is the non-recurrence of certain once-off items which occurred in the previous comparable period, primarily the reclassification of inventory to investment property in terms of IFRS and fair value adjustments on held-for- trading investments that were written down in the current year. Expenses were also incurred during the current year on the expansion of the Generation Education investment and various other investments. Further details will be provided in the final Trematon group results for the year ended 31 August 2016, due to be published on SENS on or about 14 November 2016. The Financial information on which this trading statement is based has not been reviewed or reported on by the Trematon group's auditors in accordance with either 3.4b(viii)(1)(aa) or 3.4b(viii)(1)(bb) of the Listings Requirements of the JSE Limited. Cape Town 3 November 2016 JSE Sponsor Sasfin Capital (a division of Sasfin Bank Limited) Date: 03/11/2016 04:30:00 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.