Trading Statement ROLFES HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2000/002715/06) Share Code: RLF & ISIN: ZAE000159836 ("Rolfes" or "the Company") TRADING STATEMENT Further to the operational update and trading statement published on SENS on 12 December 2016 and in compliance with section 3.4(b) of the JSE Listings Requirements, the following trading statement is provided to the market regarding the anticipated headline earnings per share ("HEPS") and earnings per share ("EPS") for the six months ended 31 December 2016. The table below illustrates the ranges anticipated against the comparative period: 6 Months ended 6 Months ended % increase 31 December 2016 31 December 2015 Earnings per 37.1 – 38.5 cents 28.3 cents 31%-36% Share ("EPS") in cents Headline 37.2 – 38.6 cents 28.4 cents 31%-36% Earnings per Share ("HEPS") Weighted 161’301 shares 134’634 shares average shares in issue(’000) The information in this trading update has not been reviewed or reported on by the Company’s auditors. The company intends to publish its interim financial results for the six months ended 31 December 2016 on SENS by close of business on 20 February 2017. Johannesburg 16 January 2017 Sponsor: Grindrod Bank Limited Investor relations: Singular Systems Date: 16/01/2017 07:05:00 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.