Trading Statement Insimbi Refractory and Alloy Supplies Limited (Incorporated in the Republic of South Africa) (Registration number: 2002/029821/06) Share code: ISB ISIN: ZAE000116828 (“Insimbi” or “the Group”) TRADING STATEMENT In terms of section 3.4 (b) of the JSE Listings Requirements, companies are required to publish a trading statement as soon as they are satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported upon next will differ by at least 20% from the financial results for the previous corresponding period. The board of directors of Insimbi hereby provides shareholders with a trading statement of the Group’s results for the year ended 28 February 2018. Shareholders are advised that earnings per share (“EPS”) are expected to be between 17.07 cents per share and 18.17 cents per share and headline earnings per share (“HEPS”) are expected to be between 16.85 cents per share and 17.94 cents per share representing an increase in: - EPS of between 55% and 65% compared to 11.01 cents per share for the period ended 28 February 2017; and - HEPS of between 55% and 65% compared to 10.87 cents per share for the period ended 28 February 2017. The financial information on which this trading statement is based has not been reviewed or reported on by the Group’s auditors. The Company expects its results for the year ended 28 February 2018 to be released on SENS on or about 31 May 2018. Johannesburg 15 March 2018 Sponsor: Bridge Capital Advisors Proprietary Limited Date: 15/03/2018 12:55:00 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.