Further trading statement 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 FURTHER TRADING STATEMENT In terms of paragraph 3.4(b)(i) of the Listings Requirements of the Johannesburg Stock Exchange, listed companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the next period to be reported on will be more than 20% different from those of the previous corresponding period or from a profit forecast previously provided to the market in relation to such period. Following the release of the initial trading statement on 25 April 2017, the board of directors of Labat has determined that the Company will report a profit before tax for the six month period ended 28 February 2017 compared to a loss before tax of R1 062 million reported in the prior comparative period ended 29 February 2016. This improved performance is attributable to the Company’s new logistics business. The earnings per share (“EPS”) and headline earnings per share (“HEPS”) for the six month period ended 28 February 2017, however, will be lower than the HEPS and EPS reported for the prior comparative period. The decline in HEPS and EPS is as a result of the fact that the comparative period HEPS and EPS included a deferred tax credit of R8.4m. Accordingly, shareholders are advised HEPS and EPS will both be 0.39 cents per share for the six months ended 28 February 2017, compared to 2.83 cents per share reported in the prior comparative period. This represents a decrease of 86.22%. The financial information, on which this trading statement is based, has not been reviewed or reported on by the Company’s auditors. The results for the six months ended 28 February 2017 are expected to be published on 31 May 2017. Johannesburg 31 May 2017 Sponsor Arbor Capital Sponsors Proprietary Limited Date: 31/05/2017 02:45:00 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.