Updated Trading Statement Argent Industrial Limited (Registration number 1993/002054/06) (Incorporated in the Republic of South Africa) Share Code: ART ISIN: ZAE000019188 (“Argent” or “the Company”) UPDATED TRADING STATEMENT In terms of paragraph 3.4 (b) of the Listings Requirements of the JSE Limited, companies are required to publish a trading statement as soon as they are satisfied that there is a reasonable degree of certainty that the financial results for the next reporting period will differ by more than 20% from those of the previous corresponding period. Shareholders are referred to the trading statement released on SENS on 4 October 2018 and are advised that due to an improved assessment the earnings per share and headline earnings per share for the 6 months ended 30 September 2018 are expected to differ from those released in the abovementioned announcement. Headline earnings per share for the 6 months ended 30 September 2018 are expected to be between 50.15% and 70.15% higher at 47.29 and 53.59 cents per share than the 31.49 cents per share reported for the previous corresponding period. Earnings per share for the 6 months ended 30 September 2018 are expected to be between 107% and 127% higher at 20.67 and 79.13 cents per share than the loss of 292.3 cents earnings per share reported for the previous corresponding period. The above information has not been reviewed or reported on by the company’s external auditors. It is anticipated that the results for the six months ended 30 September 2018 are to be published on SENS on 8 November 2018. Umhlanga 7 November 2018 Sponsor PSG Capital Date: 07/11/2018 04:50:00 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.