Trading Update Etion Limited (previously known as Ansys Limited) (Incorporated in the Republic of South Africa) (Registration number 1987/001222/06) JSE Share code: ETO ISIN: ZAE000257739 ("Etion" or the “Company”) Trading Update In terms of paragraph 3.4 (b) of the JSE Limited (“JSE”) Listings Requirements, companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the period to be reported on will differ by more than 20% from the previous corresponding period. A review of the financial results for the interim period ended 30 September 2018 by management has indicated that headline earnings per share (“HEPS”) and earnings per share (“EPS”) are expected to be a loss of between 0.25 cents and a loss of 0.75 cents when compared to the previous corresponding period. This equates to a decrease of more than 100% as compared to HEPS of 6.11 cents per share and EPS of 6.08 cents per share for the period ended 30 September 2017. The financial information on which this trading statement is based has not been reviewed or reported on by Etion’s auditors. The Company’s financial results for interim period ended 30 September 2018 are expected to be released before the end of November 2018. 23 November 2018 Pretoria Designated adviser Exchange Sponsors Date: 23/11/2018 05:40:00 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.