Trading Statement WINHOLD LIMITED (Incorporated in the Republic of South Africa) (Registration number 1945/019679/06) Share Code: WNH ISIN: ZAE000033916 (“Winhold” or “the company”) TRADING STATEMENT Winhold is in the process of completing the preparation of its results for the year ended 30 September 2016. In terms of the Listings Requirements of the Johannesburg Stock Exchange, a company is required to advise shareholders when it is reasonably certain that its results will differ by more than 20% over the corresponding reporting period. Accordingly a review by management indicates that for the year ended 30 September 2016: - headline earnings per share are expected to be between 12 and 14 cents per share (2015: 22.0 cents), a decrease of between 54 and 63%; and - earnings per share are expected to be between 12.5 and 14.0 cents per share (2015: 21.8 cents), a decrease of between 57.3 and 64.2.0%. Despite these poor results, the balance sheet remains strong, a turnaround strategy has been implemented, and a much improved 2017 is expected. Full details will be provided in the results announcement expected to be published on or about 24 November 2016. Shareholders are advised that the financial information on which this trading statement is based has not been reviewed or reported on by the Group’s external auditors. By order of the board. Germiston 18 November 2016 Sponsor Arbor Capital Sponsors Proprietary Limited Date: 18/11/2016 07:45:00 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.