Further announcement relating to the correction of prior year published results South Ocean Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 2007/002381/06) Share code: SOH ISIN: ZAE000092748 FURTHER ANNOUNCEMENT RELATING TO THE CORRECTION OF PRIOR YEAR PUBLISHED RESULTS Shareholders are referred to the results announcement published on 22 March 2018 and are advised that the prior year headline loss information contained a correction from the previous headline loss information published on 13 March 2017. The difference arose due to the adjustments used to calculate the headline loss in the prior year being pre-tax numbers as opposed to after tax numbers. The change to the information is presented below: Reconciliation of headline loss (Published on (Published on 22 March 2018) 13 March 2017) 31 December 31 December R’000 2016 2016 Loss attributable to equity holders of the Group (39 139) (39 139) Profit on disposal of property, plant and equipment (78) (108) Net impairment 13 495 18 743 (25 722) (20 504) Headline loss per share (cents) (16.4) (13.1) The correct figure for the 2016 headline loss is 16.4 cents per share as published on 22 March 2018. By order of the Board Alrode 29 March 2018 Sponsor Arbor Capital Sponsors Proprietary Limited Date: 29/03/2018 09:17:00 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.