RECM AND CALIBRE LIMITED - Voluntary trading update for the twelve months ended 31 March 2018

Voluntary trading update for the twelve months ended 31 March 2018

RECM and Calibre Limited
Incorporated in the Republic of South Africa)
Registration number 2009/012403/06)
Preference share code: RACP
ISIN: ZAE000145041
(“RAC” or "the Company”)

VOLUNTARY TRADING UPDATE FOR THE TWELVE MONTHS ENDED 31 MARCH 2018

Shareholders are hereby advised that, for the twelve months ended 31 March 2018, RAC expects the
net asset value (“NAV”) per share to be between 2 750 and 2850 cents. This represents an increase of
between 1% and 4% from the NAV per share of 2 735 cents as reported for the year ended 31 March
2017.

The Board of Directors of RAC considers the NAV per share of the Company to be the best indicator of
its financial performance.

The contents of this voluntary trading statement and the financial information on which it has been
based have not been reviewed, audited or reported on by the Company’s auditors.

Cape Town
3 May 2018

Sponsor
Questco Corporate Advisory (Pty) Ltd

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