VOLUNTARY SUSPENSION OF LISTING Oakbay Resources and Energy Limited (Incorporated in the Republic of South Africa) Registration number: 2009/021537/06 Share code: ORL ISIN: ZAE000196085 (“Oakbay Resources” or “the Company”) VOLUNTARY SUSPENSION OF LISTING Further to the announcement made on SENS on 22 June 2017, shareholders are advised that the JSE has granted a request made by Oakbay Resources for a voluntary suspension of the listing of its securities, on a temporary basis; which will take place with immediate effect. As previously communicated to shareholders, the recent resignations of the Company’s Sponsor, Transfer Secretary and an Independent Non-Executive Director (who was also the Chairman of the Company’s Audit Committee) has created significant uncertainty around the ability of Oakbay Resources to continue to meet its future obligations in terms of the Listings Requirements. As a direct consequence of these circumstances, the Board believes that it would be in the best interests of the Company and its Shareholders that the listing of its securities on the JSE is temporarily suspended. The Board of Directors remains in the process of evaluating several alternatives available to the Company and the Shareholders would be informed in due course as to any developments in this regard. Johannesburg 23 June 2017 River Group Sponsors and Corporate Advisors Date: 23/06/2017 04:42:00 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.