Update on the acquisition of Ormin Coal Proprietary Limited and renewal of cautionary announcement LABAT AFRICA LIMITED (Incorporated in the Republic of South Africa) (Registration number 1986/001616/06) (“Labat” or “the Company”) ISIN Code: ZAE 000018354 Share code: LAB UPDATE ON THE ACQUISITION OF ORMIN COAL PROPRIETARY LIMITED (“ORMIN”) AND RENEWAL OF CAUTIONARY ANNOUNCEMENT Shareholders are referred to the announcement released on 30 January 2017 relating to the acquisition by Labat of 51% of the issued share capital of Ormin, subject to certain conditions precedent. Shareholders are advised that the agreement relating to the acquisition (“Acquisition Agreement”) lapsed due to Ormin requiring more time to furnish information that is required for the completion of the due diligence process. In the interim, the parties are interested in developing a working relationship and may revisit negotiations in due course. Shareholders are further referred to the cautionary announcement released on 30 January 2017 and are advised that the Company is still in various negotiations involving, inter alia, new contracts and joint ventures and are accordingly advised to continue to exercise caution until a further announcement is made. 13 March 2017 Johannesburg Sponsor Arbor Capital Sponsors Proprietary Limited Date: 13/03/2017 04:02:00 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.