Clarification of Certain Items Contained in the Interim Results and Impact of Increase in Local Dividend Tax Imperial Holdings Limited (Incorporated in the Republic of South Africa) Registration number: 1946/021048/06 Preference share code: IPLP ISIN: ZAE000088076 Ordinary share code: IPL ISIN: ZAE000067211 (”Imperial”) CLARIFICATION OF CERTAIN ITEMS CONTAINED IN THE INTERIM RESULTS PUBLISHED ON 21 FEBRUARY 2017 AND IMPACT OF INCREASE IN LOCAL DIVIDEND TAX Shareholders are referred to the unaudited interim results and declaration of preference and ordinary dividends for the six months ended 31 December 2016 released on the Stock Exchange News Service on 21 February 2017. Imperial is providing the disclosure outlined below for clarification: Imperial Logistics: Divisional Performance The tables for HY2 2016 as disclosed in the interim report for Logistics South Africa & African Regions on page 7 had not been restated to exclude the businesses held for sale, whereas the HY2 2016 figures in the table for Imperial Logistics on page 6 had been restated. The revised numbers below exclude businesses held for sale for Logistics South Africa & African Regions. Logistics International was not impacted as Neska was sold in HY1. Logistics December 2016 As As tables disclosed disclosed Revised Revised H2 2016 H2 2016 H2 2016 H2 2016 Revenue Op profit Revenue Op profit Logistics SA 7533 340 7321 400 Logistics African Regions 5872 388 5362 389 Palletways The revenue for the Palletways acquisition published on SENS on 1 June 2016 was based on the disclosed revenue received during the due diligence process, which excluded revenue between franchisee members. Since Palletways acts as a principal to members, this revenue should in terms of IFRS be included in Palletways’ revenue, resulting in higher revenue as disclosed in the interim results. Interim Dividend Pursuant to the increase in the local dividend tax to 20% as announced in the National Budget on 22 February 2017: The gross preference dividend of 434.31164 cents will be subject to a local dividend tax rate of 20%. The net preference dividend, to those shareholders who are not exempt from paying dividend tax, is therefore 347.44931 cents per share. The gross ordinary dividend of 320.00000 cents will be subject to a local dividend tax rate of 20%. The net ordinary dividend, to those shareholders who are not exempt from paying dividend tax, is therefore 256.00000 cents per share. Bedfordview 24 February 2017 Sponsor: Merrill Lynch South Africa (Pty) Limited Date: 24/02/2017 07:13:00 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.