Trading Update ARB HOLDINGS LIMITED (Registration number: 1986/002975/06) Share code: ARH ISIN: ZAE000109435 (“ARB” or “the company”) TRADING UPDATE In accordance with paragraph 3.4 of the Listings Requirements of the JSE Limited, a listed company is required to publish a trading statement as soon as it becomes aware, with a reasonable degree of certainty, that the financial results for the next period to be reported on are likely to vary by more than 20% from the previous corresponding period.” Shareholders are advised that ARB expects its earnings per share (“EPS”) for the six months ended 31 December 2017, to be between 36.19 cents and 37.86 cents which is between 30% and 36% higher than the EPS reported for the six months ended 31 December 2016, of 27,84 cents. It further expects its headline earnings per share (“HEPS”) for the six months ended 31 December 2017, to be between 36.49 cents and 38.18 cents which is between 30% and 36% higher than the HEPS reported for the six months ended 31 December 2016, of 28,07 cents. The expected increase arises primarily from a IFRS non-cash reduction in the valuation of the Put Option Liability issued to the non-controlling interests in Eurolux, mainly attributable to a decrease in the ARB price earnings ratio applicable in terms of the Put Option. Shareholders are cautioned that this reduction in the valuation of the Put Option Liability is sensitive to the ARB share price and may also reverse in the short term. ARB’s results for the six months ended 31 December 2017 are expected to be released on or about Thursday, 15 February 2018. The information on which this trading update has been based has not been reviewed or reported on by the company’s auditors. Durban 29 January 2018 Sponsor Grindrod Bank Limited Date: 29/01/2018 05:42:00 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.