TRENCOR LIMITED - Trading statement - six months ended 30 June 2017

Trading statement - six months ended 30 June 2017

TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
(“Trencor”)

TRADING STATEMENT - SIX MONTHS ENDED 30 JUNE 2017

Despite strong improvements in container leasing market conditions, Trencor will be reporting
losses for the six months ended 30 June 2017. International Financial Reporting Standards require
Trencor to further impair the container fleets owned by Textainer and TAC. These non-cash
impairments are as a result of future cash flows associated with the container fleets being
discounted at a higher weighted average cost of capital, increased from when the containers were
last tested for impairment at 31 December 2016. No such discounting is required in terms of US
GAAP under which Textainer and TAC report.

Shareholders are advised that Trencor’s headline loss per share, adjusted headline loss per share
and loss per share for the six months ended 30 June 2017 are expected to be within the ranges set
out below:
                                                         2017          2016               2017
                                                      30 June       30 June            30 June
                                                     Expected        Actual   Decrease in loss
                                                          cps           cps                  %
Headline loss per share                         (125) – (155)       (324,1)            61 - 52
Adjusted headline loss per share (which
excludes net unrealised foreign
exchange gains on translation of long-
term receivables)                               (125) – (155)       (314,6)            60 - 51
Loss per share                                  (440) – (530)     (1 337,7)            67 - 60

The financial information on which this trading statement is based has not been reviewed and
reported on by Trencor’s independent auditors.

The Interim Results in respect of the six months ended 30 June 2017 are expected to be published
on SENS on or before 29 September 2017.

On behalf of the Board
Hennie van der Merwe
Chief Executive Officer

21 September 2017

Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited)
www.trencor.net

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