Trading Statement Curro Holdings Limited Incorporated in the Republic of South Africa (Registration number: 1998/025801/06) JSE Share Code: COH ISIN: ZAE000156253 (“Curro” or “the Company”) TRADING STATEMENT In terms of the Listings Requirements of the JSE Limited, a listed company is required to publish a trading statement as soon as it becomes aware that the financial results for the financial period to be reported on next will vary by 20% or more from those of the previous comparable period. Accordingly, shareholders are hereby advised that a reasonable degree of certainty exists that the Company’s earnings per share (“EPS”) and headline earnings per share (“HEPS”) for the six months ended 30 June 2017 will be between 26.4 cents and 27.5 cents per share compared to the 22.0 cents per share achieved for the prior corresponding period, being an increase of between 20% and 25%. As previously announced, Curro intends to unbundle its subsidiary Stadio Holdings Proprietary Limited (“Stadio”). Given the current development phase of Stadio, substantial expansion cost has been incurred. Should Stadio be excluded from the Company’s performance, the Curro schools business EPS and HEPS per share for the six months ended 30 June 2017 will be between 27.1 cents and 28.2 cents per share compared to the 20.2 cents per share achieved for the prior corresponding period, being an increase of between 34% and 40%. The financial information on which this trading statement is based has not been reviewed and reported on by Curro’s auditor. The financial results for the six months ended 30 June 2017 are expected to be published on or about 15 August 2017. By order of the Board Durbanville 19 July 2017 Sponsor PSG Capital Date: 19/07/2017 03:52:00 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.