Trading statement and business update Oceana Group Limited Incorporated in the Republic of South Africa (Registration number 1939/001730/06 JSE Share Code: OCE NSX Share Code: OCG ISIN Number: ZAE000025284 ("Oceana" or "the Company" or “the Group”) TRADING STATEMENT AND BUSINESS UPDATE In accordance with paragraph 3.4(b) of the Listings Requirements of the JSE Limited (“JSE”), companies are required to publish a trading statement as soon as they are reasonably certain that the financial results for the current reporting period will differ by at least 20% from those of the prior comparative period. Accordingly, basic earnings per share (“EPS”) for the six months ended 31 March 2018 compared to the six months ended 31 March 2017 (“comparative period”) are expected to increase between 55% and 65%, to between 300.7 cents per share and 320.1 cents per share (31 March 2017: 194.0 cents per share). Basic headline earnings per share (“HEPS”) for the six months ended 31 March 2018 are expected to increase between 55% and 65%, to between 300.4 cents per share and 319.8 cents per share (31 March 2017: 193.8 cents per share) compared to the comparative period. The increase in EPS and HEPS is largely attributable to the release of USD13 million deferred taxation in Daybrook following the reduction in the federal corporate tax rate in the United States of America from 35% to 21%. The Group’s operating profit before associate and joint venture income and fair value adjustments is expected to increase between 5% and 12%. This increase is largely attributable to improvements in the canned fish and the horse mackerel and hake segments which were offset by a decline in USA fishmeal and fish oil earnings. The solid performance of the canned fish segment was driven by increased sales volumes and improved margins owing to lower raw material and logistics costs, while horse mackerel and hake earnings benefitted from increased volumes due to improved vessel utilisation and good catch rates. Daybrook operating results were adversely affected by the lag effect of lower pricing contracted during the latter part of 2017 and lower fish oil sales volumes due to a reduced oil yield in the 2017 fishing season. The financial information on which this trading statement is based has not been reviewed and/or reported on by the Company`s auditors. The Company expects its results for the six months ended 31 March 2018 to be released on the Stock Exchange News Service of the JSE on or about Thursday, 17 May 2018. Cape Town 10 April 2018 JSE Sponsor The Standard Bank of South Africa Limited Namibian Sponsor Old Mutual Investment Services (Namibia) Proprietary Limited Date: 10/04/2018 04:45:00 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.