Trading statement AFRICAN OXYGEN LIMITED (Incorporated in the Republic of South Africa) (Registration number 1927/000089/06) JSE code: AFX NSX code: AOX ISIN: ZAE000067120 (“Afrox” or the “Company”) TRADING STATEMENT In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, companies are required to publish a trading statement as soon as they are satisfied that, with a reasonable degree of certainty, the financial results for the current reporting period will differ by at least 20% from the financial results of the previous corresponding period. Afrox is in the process of finalising their results for the year ended 31 December 2016 (“Results”) and shareholders are accordingly advised that the Company expects to report: - earnings per share (“EPS”) to be between 186 cents and 199 cents per share, the afore mentioned being 39% and 49% higher than the 134 cents per share for the previous corresponding period, respectively; and - headline earnings per share to be between 182 cents and 196 cents per share, the afore mentioned being 31% and 41% higher than the 139 cents per share for the previous corresponding period, respectively. The increase in EPS is largely due to improved margins from operational efficiencies and a reduction in fixed costs, as a result of the restructuring initiatives initiated in previous corresponding period, together with the settled litigation. The above information has not been reviewed or reported on by the Company’s auditors. The Results are expected to be published on or about 22 February 2017. Johannesburg 30 January 2017 Sponsor One Capital Date: 30/01/2017 08:00:00 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.