Trading Statement WILSON BAYLY HOLMES - OVCON LIMITED Building and civil engineering contractors (Registration no. 1982/011014/06) ISIN No: ZAE 000009932 Share code: WBO (“WBHO” or “the Company”) TRADING STATEMENT The directors of WBHO hereby advise shareholders that, in respect of the unaudited consolidated interim results for the period ended 31 December 2017, earnings per share and headline earnings per share are expected to vary by the percentages and amounts included in the table below:- 31 December 31 December 31 December FY17 FY17 FY16 % range between between Continuing operations Earnings per share (cents) 80% to 90% up 716 and 755 397,5 Headline earnings per share (cents) 80% to 90% up 717 and 756 398,1 Total operations Earnings per share (cents) 80% to 90% up 709 and 748 393,8 Headline earnings per share (cents) 80% to 90% up 712 and 751 395,3 The directors further advise shareholders that the marked increase in earnings per share is attributable to the full value of the group’s socio-economic contribution arising from the Settlement Agreement signed with the Government of South Africa being recognised in the consolidated results for the comparative period ending 31 December 2016. The table below illustrates adjusted earnings per share and headline earnings per share for period had the once-off settlement amount not been accounted for. The operating performance of the group over the first six months of the financial year have been impacted by some margin impairment due to an under-performing contract in Australia and conservative profit taking on two large contracts, one in South Africa and one in Guinea which have experienced delays. Earnings were also reduced by losses from the Byrne Group (accounted for as an associate) in the United Kingdom due to restructuring costs and delay in contract awards through the first quarter. 31 December 31 December 31 December FY17 FY17 FY16 % range between between (adjusted for socio- economic fund contribution) Continuing operations Earnings per share (cents) 1% to 6% up 716 and 755 709,5 Headline earnings per share (cents) 1% to 6% up 717 and 756 710,1 Total operations Earnings per share (cents) 1% to 6% up 709 and 748 706,1 Headline earnings per share (cents) 1% to 6% up 712 and 751 708,2 The financial results for the period to 31 December 2017 are expected to be released on SENS 27 February 2018. This statement has not been reviewed or reported on by the company’s auditors. By order of the board Johannesburg 14 February 2018 Sponsor: Investec Bank Limited Date: 14/02/2018 05:15:00 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.