Trading statement TORRE INDUSTRIES LIMITED Incorporated in the Republic of South Africa (Registration number: 2012/144604/06) Share code: TOR ISIN: ZAE000188629 (“Torre” or “the Group”) TRADING STATEMENT In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, listed companies are required to publish a trading statement as soon as the board of directors is satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported on next will vary by 20% or more when compared to those of the previous corresponding reporting period. Torre shareholders are advised that normalised headline earnings per share (“NHEPS”), headline earnings per share (“HEPS”) and basic earnings per share (“EPS”) will all be lower than the previous corresponding reporting period due to prior period earnings including once off benefits from deferred purchase consideration adjustments and a specific once-off contractual sale. Current period earnings will be adversely affected following once-off restructuring and relocation costs. Notwithstanding, the interim results will be much improved from those of the prior six month period ended 30 June 2016, as operational improvements began taking effect. As such, NHEPS, HEPS and EPS for the Group to 31 December 2016 are expected to decrease from the corresponding period as follows: 6 months to 31 December 2015 6 months to 31 December 2016 Actual Expected range NHEPS 15.90 cents 8.0 cents to 7.0 cents (50% to 56% down) HEPS 15.12 cents 4.25 cents to 3.25 cents (72% to 79% down) EPS 15.06 cents 4.0 cents to 3.0 cents (73% to 80% down) The financial information on which the trading statement has been based has not been reviewed or reported on by Torre’s external auditors. Torre will release its results for the 6 months to 31 December 2016 on 28 February 2017, along with the results of a strategic review. Johannesburg 6 February 2017 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 06/02/2017 04:00:00 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.