Trading Statement South Ocean Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 2007/002381/06) Share code: SOH ISIN: ZAE000092748 Trading Statement South Ocean Holdings’ headline loss per share for the 6 months ended 30th June 2017 is expected to be between 5.3 cents and 6.5 cents higher than the headline loss per share for the corresponding prior period. The loss per share is expected to be between 13.8 cents and 16.8 cents higher compared to the loss per share for the corresponding prior period. To comply with IAS 36, the Group performed an impairment test of its assets in subsidiaries, as a result a net impairment charge of R14.5 million was recognized in the Statement of Comprehensive Income which contributed to an increase in the loss per share. The impairment was due to the value in use of the subsidiaries being lower than the subsidiaries’ enterprise value. As reported in the corresponding prior period, headline loss per share was 4.3 cents and loss per share was 4.2 cents. The financial information on which this trading statement is based has not been reviewed or reported on by South Ocean Holdings’ external auditors. The audited results for the 6 months ended 30th June 2017 are expected to be published on or about the 14th of August 2017. By order of the Board 8 August 2017 Alrode Sponsor Investec Bank Limited Date: 08/08/2017 04:45:00 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.