Award of Crude Allocation SacOil Holdings Limited (Incorporated in the Republic of South Africa) (Registration number: 1993/000460/06) JSE Share Code: SCL AIM TIDM: SAC ISIN: ZAE000127460 (“SacOil” or the “Company”) AWARD OF CRUDE ALLOCATION BY THE NNPC SacOil, the South African based oil and gas company, is pleased to announce that its Joint Venture company SacOil Energy Equity Resources Limited (“SEER”), has received notification from the Nigerian National Petroleum Corporation (“NNPC”) of the award of a crude term contract. The terms of the crude contract and the amount and regularity of offtake by SEER is dependent on the aggregate crude production in Nigeria. Information on the crude term contracts for 2017/18 awarded by NNPC can be found on NNPC’s website: www.nnpcgroup.com These crude trading operations represent an important part of SacOil’s diverse portfolio of assets and operations, and are in line with the Company’s strategy to focus on cash generative, income producing activities across the full industry value chain. Market Abuse Regulation This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. 4 January 2017 Contacts SacOil Holdings Limited Damain Matroos +27 (0)10 591 2260 JSE Sponsor PSG Capital Proprietary Limited Nominated Adviser and Broker finnCap Ltd +44 (0)20 7220 0500 Christopher Raggett James Thompson Financial PR Adviser - UK Buchanan +44 (0)20 7466 5000 Ben Romney Chris Judd Madeleine Seacombe ABOUT SACOIL SacOil is a South African based African oil and gas company, dual-listed on the JSE and AIM. The Company has a diverse portfolio of assets spanning production in Egypt; exploration and appraisal in the Democratic Republic of Congo, Malawi and Botswana; and midstream projects including crude trading in Nigeria and a terminal project in Equatorial Guinea. Our focus as a Group is on delivering energy for the African continent by using Africa’s own resources to meet the significant growth in demand expected over the next decade. The Company continues to evaluate industry opportunities throughout Africa as it seeks to establish itself as a leading, full-cycle pan-African oil and gas company. The Public Investment Corporation (SOC) Limited ("PIC"), wholly owned by the South African Government, acting on behalf of the Government Employees Pension Fund ("GEPF"), is the largest shareholder with 68.65% of the total issued share capital of the Company. Date: 04/01/2017 03:51:00 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.