DISTRIB. AND WAREHOUSING NETWORK LD - Cautionary announcement

Cautionary announcement

Distribution and Warehousing Network Limited
(Incorporated in the Republic of South Africa)
(Registration number 1984/008265/06)
Share code: DAW & ISIN code: ZAE000018834
(“DAWN” or “the Company” or “the Group”)

CAUTIONARY ANNOUNCEMENT

Shareholders are advised that the board of directors of DAWN are currently considering various
initiatives to, inter alia, strengthen its balance sheet to allow for the alignment of its capital structure to
its business model and current environment, which if successfully concluded may have a material effect
on the price of the Company’s securities.

Shareholders are accordingly advised to exercise caution when dealing in DAWN securities until a
further announcement is made.

Germiston
19 January 2017
Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd

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