Renewal of Cautionary Announcement ZCI Limited (Bermudian registration number 661:1969) (South African registration number 1970/000023/10) JSE share code: ZCI ISIN: BMG9887P1068 Euronext share code: BMG9887P1068 ("ZCI" or "the Company") RENEWAL OF CAUTIONARY ANNOUNCEMENT Shareholders are referred to the previous cautionary and renewal of cautionary announcements released by ZCI in connection with the liquidation of each of Messina Copper (Botswana) Proprietary Limited (“Messina”), and African Copper Plc (“ACU”). As at the date of this announcement, the board of directors of ZCI cannot reliably estimate the extent of any potential proceeds arising as a result of the aforementioned liquidation proceedings. The Company will provide updates to stakeholders as and when further information becomes available. Accordingly, shareholders are advised to exercise caution when dealing in ZCI shares until such date as further information in relation to the above matters, including the full financial impact thereof, has been made available. As a result of the events explained above, the board of directors of ZCI is still currently not able to provide a date on which the suspension of trading, in securities of ZCI, is expected to be lifted, as is required in terms of Section 1.10(c) of the JSE Limited Listings Requirements. Bermuda 19 April 2017 Sponsor: Bridge Capital Advisors Proprietary Limited Date: 19/04/2017 12:00:00 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.