Results of Annual General Meeting and Restructuring of Board Committees CARGO CARRIERS LIMITED (Registration Number 1959/003254/06) Share code: CRG ISIN: ZAE000001764 ("Cargo Carriers" or "the Company" or “the Group”) RESULTS OF THE ANNUAL GENERAL MEETING AND RESTRUCTURING OF BOARD COMMITTEES Shareholders are advised that at the Annual General Meeting (“AGM”) of shareholders held on Thursday, 27 July 2017, all the resolutions tabled at the meeting were passed by the requisite majority of shareholders. Details of the results of voting at the AGM are as follows: - Total number of Cargo Carriers shares in issue at the date of the AGM: 21 052 632 - Shares held by Cargo Carriers Employee Share Incentive Trust: 593 710 (excluded from voting on resolutions proposed in terms of JSE Listings Requirements) - Total number of Cargo Carriers shares that were present/represented at the AGM: 17 393 026, being 82.62% of the total number of ordinary shares that could have been voted on at the AGM. Abstain Total Votes For Against: (% of issued (excluding Resolution proposed % % share capital) abstentions) Ordinary resolution number 1 – 17 393 026 0 0 Acceptance of financial statements 100% 0.00% 0.00% 17 393 026 Ordinary resolution number 2 – 17 393 026 0 0 Director appointment – SF Nomvalo 100% 0.00% 0.00% 17 393 026 Ordinary resolution number 3 – 17 393 026 0 0 Director appointment – A Gcabashe 100% 0.00% 0.00% 17 393 026 Ordinary resolution number 4 – 17 393 026 0 0 Director appointment – N Medupe 100% 0.00% 0.00% 17 393 026 Ordinary resolution number 5 – 17 037 261 355 765 0 Director retirement and re-election – BB Fraser 97.95% 2.05% 0.00% 17 393 026 Ordinary resolution number 6 – 17 393 026 0 0 Approval of remuneration policy 100% 0.00% 0.00% 17 393 026 Ordinary resolution number 7 – 17 393 026 0 0 Appointment and remuneration of Auditors 100% 0.00% 0.00% 17 393 026 Ordinary resolution number 8 – Appointment of audit and risk committee 17 393 026 0 0 member – SF Nomvalo 100% 0.00% 0.00% 17 393 026 Ordinary resolution number 9 – Appointment of audit and risk committee 17 393 026 0 0 member – AE Franklin 100% 0.00% 0.00% 17 393 026 Ordinary resolution number 10 – Appointment of audit and risk committee 17 393 026 0 0 member – V Raseroka 100% 0.00% 0.00% 17 393 026 Ordinary resolution number 11 – Appointment of audit and risk committee 17 393 026 0 0 member – A Gcabashe 100% 0.00% 0.00% 17 393 026 Ordinary resolution number 12 – Appointment of audit and risk committee 17 393 026 0 0 member – N Medupe 100% 0.00% 0.00% 17 393 026 Ordinary resolution number 13 – General authority to allot and issue shares for 16 443 551 355 765 0 cash* 97.88% 2.12% 0.00% 16 799 316 Special resolution number 1 – 16 799 316 0 0 General authority to repurchase shares* 100% 0.00% 0.00% 16 799 316 Special resolution number 2 – 17 393 026 0 0 Non-Executive directors’ remuneration** 100% 0.00% 0.00% 17 393 026 Special resolution number 3 – General authority to enter into funding agreements, provide loans or other financial 17 393 026 0 0 assistance 100% 0.00% 0.00% 17 393 026 * 593 710 shares held by Cargo Carriers Employee Share Incentive Trust excluded from voting on this resolution ** Special resolution number 2 was modified at the annual general meeting. The modification provides for VAT on the proposed revised fees to be invoiced by the individual non-executive directors where this may be necessary. Restructuring of the Board Committees As announced on SENS on 6 June 2017, Mrs MJ Vuso retired from the Cargo Carriers board at the AGM. Following Mrs Vuso’s retirement, the following changes have been made to the Board committees: Audit and Risk Committee Mr SF Nomvalo has been appointed as Chairperson of the Audit & Risk Committee Social & Ethics Committee Ms Amanda Gcabashe has been appointed as Chairperson of the Social & Ethics Committee Remuneration Committee Ms Amanda Gcabashe has been appointed as a member of the Remuneration Committee. Nominations Committee Ms Amanda Gcabashe has been appointed as a member of the Nominations Committee. Johannesburg 31 July 2017 Sponsor Arbor Capital Sponsors Proprietary Limited Date: 31/07/2017 05:43:00 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.