Notification of Withdrawal of Fairfax Partial Offer and Further Cautionary Announcement PPC Ltd (Incorporated in South Africa) (Company registration number: 1892/000667/06) JSE and ZSE Code: PPC ISIN: ZAE000170049 (“PPC” or the “Company”) NOTIFICATION OF WITHDRAWAL OF FAIRFAX PARTIAL OFFER AND FURTHER CAUTIONARY ANNOUNCEMENT PPC shareholders are referred to the announcement published on SENS on 4 September 2017, which advised that Fairfax Africa Investments Proprietary Limited (“Fairfax”), acting on behalf of a subsidiary to be nominated by Fairfax, indicated a firm intention to make a partial offer to acquire PPC shares representing a value of R2 billion of the issued ordinary stated capital of PPC, at an offer price of R5.75 per PPC share (“Fairfax Partial Offer”), which offer was conditional upon, among other things, approval by PPC shareholders of the proposal to give effect to a merger between PPC and Afrisam Group Proprietary Limited, and the recommendation of the independent board of PPC (“Independent Board”) to PPC shareholders that they accept the Fairfax Partial Offer. PPC shareholders are further referred to the announcement published on SENS on 22 November 2017, which advised PPC shareholders that the Independent Board, having completed its process of considering the terms and conditions of the Fairfax Partial Offer, does not regard it to be fair and reasonable, and accordingly resolved not to recommend to PPC shareholders that they accept the Fairfax Partial Offer. PPC shareholders were also advised in that announcement that the Takeover Regulation Panel had granted Fairfax an extension of the date by which it is required to post the Fairfax Partial Offer circular until 12 December 2017. PPC shareholders are hereby advised that on 8 December 2017, the Independent Board received Fairfax’s formal notification that it will not proceed with the Partial Offer and that, accordingly, the Fairfax Partial Offer circular will not be posted to PPC shareholders. Renewal of cautionary PPC shareholders should note that the Independent Board continues to engage with LafargeHolcim in respect of its approach (as announced on SENS on 13 November 2017). These engagements may or may not lead to a firm intention offer. Accordingly, PPC shareholders are advised to continue to exercise caution when dealing in securities of PPC until a further announcement is made. Responsibility Statement The Independent Board accepts responsibility for the information contained in this announcement to the extent that it relates to PPC, accepts full responsibility for the accuracy of such and certifies that, to the best of its knowledge and belief, the information contained in this announcement is true and nothing has been omitted which is likely to affect the importance of the information. Sandton 11 December 2017 Investor contacts: PPC: Anashrin Pillay Tel: +27 (0) 11 386 9000 Anashrin.Pillay@ppc.co.za Joint Financial Advisor and Sponsor to PPC Merrill Lynch South Africa (Pty) Ltd Joint Financial Advisor to PPC Identity Advisory (Pty) Ltd Independent Advisor to the Board of PPC The Standard Bank of South Africa Limited Legal Advisor to PPC Bowmans Date: 11/12/2017 12:15:00 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.