Change in Dividend Withholding Tax Rate Comair Limited Incorporated in the Republic of South Africa Registration number: 1967/006783/06 Share code: COM ISIN: ZAE000029823 (“Comair” or “the Company” or “the Group”) CHANGE IN DIVIDEND WITHHOLDING TAX RATE Shareholders are referred to the announcement by the South African Minister of Finance on 22 February 2017, that the dividend withholding tax rate has been increased from 15% to 20%, effective for dividends declared with a payment date on or after 22 February 2017. Further to the announcement released by Comair on the Stock Exchange News Service of the JSE Limited on 14 February 2017,which included the unaudited results of the company for the six month period ended 31 December 2016 and a dividend declaration, shareholders are requested to refer to the updated dividend declaration paragraph included below: Cash Dividend Declaration Following on the strong cash earnings for 1 July 2016 to 31 December 2016, notice is hereby given that a gross interim cash dividend of 7.00000 cents per share (prior period gross interim cash dividend of 5 cents) payable to ordinary shareholders was approved and declared by the board of directors for the six month period ended 31 December 2016. The dividend was declared out of income reserves. Dividends will be subject to a local dividend tax rate of 20% or 1.40000 cents per share, resulting in a net dividend of 5.60000 cents per share, unless the shareholder is exempt from paying dividend tax or is entitled to a reduced rate in terms of the applicable double tax agreement. The Company’s tax reference number is 9281/874/7/1/0 and the number of shares in issue at the date of this declaration is 469,330,865 ordinary shares. In accordance with the provisions of Strate, the electronic settlement and custody system used by the JSE Limited, the relevant dates for the dividend are as follows: Event Date Last day to trade (cum dividend) Monday, 20 March 2017 Shares commence trading (ex dividend) Wednesday, 22 March 2017 Record date (date shareholders Friday, 24 March 2017 recorded in books) Payment date Monday, 27 March 2017 Share certificates may not be dematerialised or re-materialised between Wednesday 22, March 2017 and Friday, 24 March 2017, both days inclusive. Bonaero Park 24 February 2017 Sponsor PSG Capital Proprietary Limited Date: 24/02/2017 11:59:00 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.