Trading statement for the year ended 31 August 2017 Trematon Capital Investments Limited (Incorporated in the Republic of South Africa) Registration number 1997/008691/06 Share code: TMT ISIN: ZAE000013991 ("Trematon" or "the Trematon group") TRADING STATEMENT FOR THE YEAR ENDED 31 AUGUST 2017 In terms of the listing requirements of the JSE, a listed company is required to publish a trading statement as soon as it becomes reasonably certain that the financial results for the next period to be reported on will show a 20% or more difference from those of the previous corresponding period. Shareholders are hereby advised that the Trematon group is currently finalising its annual financial results for the year ended 31 August 2017. Trematon is an investment holding company and uses earnings, headline earnings and the intrinsic value model to provide management and investors with a realistic and transparent way of evaluating Trematon’s performance. The pro forma financial information has been compiled using a combination of listed market values, external professional valuations, and/or directors valuations, where applicable. The Trematon group expects: - basic earnings per share for the year ended 31 August 2017 to be between 133 cents and 135 cents, which is between 483.3% and 492.1% higher than that for the year ended 31 August 2016 ("the previous comparable period”) of 22.8 cents; and - headline earnings per share (“HEPS”) for the year ended 31 August 2017 to be between 20.2 cents and 20.4 cents, which is between 1088.2% and 1100.0% higher than that of the previous comparable period's HEPS of 1.7 cents; and - intrinsic net asset value per share for the year ended 31 August 2017 to be between 430 cents and 432 cents, which is between 16.8% and 17.4% higher than that of the previous comparable period’s 368 cents; and - net asset value per share for the year ended 31 August 2017 to be between 390 cents and 392 cents, which is between 52.9% and 53.7% higher than that of the previous comparable period’s 255 cents. The increase in earnings and net asset values reflects strong performances across all business units within the group. Further details will be provided in the final Trematon group results for the year ended 31 August 2017, due to be published on SENS on or about 20 November 2017. The Financial information on which this trading statement is based has not been reviewed or reported on by the Trematon group's auditors in accordance with either 3.4b(viii)(1)(aa)or 3.4b(viii)(1)(bb)of the Listings Requirements of the JSE Limited. Cape Town 20 October 2017 JSE Sponsor Sasfin Capital (a division of Sasfin Bank Limited) Date: 20/10/2017 09:00:00 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.