Results of annual general meeting HUDACO INDUSTRIES LIMITED (Incorporated in the Republic of South Africa) Registration Number 1985/004617/06 Share Code: HDC ISIN: ZAE000003273 (“Hudaco” or “the company”) Results of annual general meeting Hudaco shareholders are advised that the voting results for the annual general meeting (“the AGM”) held at the registered offices of the Company on 5 April 2018 are set out below. Based on the voting results, all resolutions were passed by the requisite majority of Hudaco shareholders present in person or represented by proxy at the AGM. Resolution Number of Percentage For** Against** Abstained* shares voted of votable % % % shares in issue* % Ordinary Resolution Number 1.1 26 425 840 83.51 86.07 13.93 0.10 To re-elect directors retiring by rotation: SJ Connelly Ordinary Resolution Number 1.2 26 425 840 83.51 95.53 4.47 0.10 To re-elect directors retiring by rotation: N Mandindi Ordinary Resolution Number 2: 26 425 840 83.51 99.99 0.01 0.10 To elect MR Thompson appointed since previous AGM Ordinary Resolution Number 3: 25 303 790 79.96 86.77 13.23 3.65 To approve the re-appointment of external auditors Ordinary Resolution Number 4.1: 26 425 840 83.51 99.78 0.22 0.10 Appointment of the members of the audit and risk management committee: D Naidoo Ordinary Resolution Number 4.2: 26 425 840 83.51 100.00 0.00 0.10 Appointment of the members of the audit and risk management Committee: N Mandindi Ordinary Resolution Number 4.3: 26 425 840 83.51 99.99 0.01 0.10 Appointment of the members of the audit and risk management Committee: MR Thompson Special Resolution Number 1: 26 423 560 83.50 99.57 0.43 0.11 Approval of non-executive directors’ remuneration Non-binding Resolution Number 26 425 840 83.51 72.57 27.43 0.10 1: Approval of Hudaco’s remuneration policy Non-binding Resolution Number 26 425 840 83.51 86.32 13.68 0.10 2: Approval of Hudaco’s remuneration implementation report Special Resolution Number 2: 26 425 840 83.51 95.34 4.66 0.10 Authorising the provision of financial assistance to subsidiaries Special Resolution Number 3: 26 423 233 83.50 99.57 0.43 0.11 General authority to repurchase shares up to 1 582 285 (5%) of the shares in issue Ordinary Resolution Number 5: 26 234 628 82.90 84.11 15.89 0.71 General authority to directors to allot and issue authorised but unissued ordinary shares – up to 1 582 285 (5%) shares in issue Ordinary Resolution Number 6: 26 425 840 83.51 99.76 0.24 0.10 Signature of documents * Based on 31 645 703 votable shares (34 153 531 shares in issue as at the date of the AGM, minus 2 507 828 treasury shares held by a subsidiary of Hudaco.) ** As a percentage of shares voted at AGM. Shareholders are further advised that due to Non-binding Resolution Number 1 relating to the approval of Hudaco’s remuneration policy being voted against by more than 25% of Hudaco shareholders present in person or represented by proxy at the AGM, an invitation is hereby extended to such dissenting shareholders to engage with the Company. Those wishing to do so should, in the first instance, contact the group secretary at reana@hudaco.co.za Comments by the CEO on 2018 first quarter trading During the meeting, Graham Dunford, chief executive of Hudaco, made the following comments on trading for the first quarter: “In our 2017 results announcement, we noted the increase in consumer and business confidence that followed the election of Cyril Ramaphosa as president of the ANC and we pointed out that, if certain positive developments followed, this was likely to translate into investment in those sectors of the economy that are traditional Hudaco markets. This would enable those of our businesses that have been in austerity mode for the past few years to thrive once again. Since then, Mr Ramaphosa has become president of South Africa, meaningful steps are being taken to restore good governance and tackle corruption, the controversial Mining Charter is under review, policies that better support economic growth have been intimated and more competent people are being put into key positions. One the other hand, the possibility of the expropriation of land without compensation is counter-acting these positive developments. Hudaco’s first quarter includes the very quiet months of December and January so it is still too soon for a meaningful impact on trading.” Retirement of Royden Vice as chairman of the board Royden Vice, who has been an independent non-executive director since June 2007 and has served as chairman of the board since March 2008, retired from the board today. He has been a great asset to the group and his contribution will be missed both personally and professionally. The board wishes him well in his retirement. Stephen Connelly will be replacing him as chairman with immediate effect. Johannesburg 5 April 2018 Sponsor Nedbank Corporate and Investment Banking Date: 05/04/2018 03:30:00 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.