BSI STEEL LIMITED - Renewal of cautionary

Renewal of cautionary

BSI Steel Limited
(Incorporated in the Republic of South Africa)
(Registration number 2001/023164/06)
JSE code: BSS
ISIN: ZAE000125134
(“BSI” or "the Company")

RENEWAL OF CAUTIONARY ANNOUNCEMENT

BSI shareholders (“Shareholders”) are referred to the cautionary announcement
published on Monday, 14 August 2017 wherein they were advised that the board of
directors of BSI (“Board”) has resolved, in principle, to proceed towards seeking a
delisting of BSI from the JSE ("Proposed Delisting"), and the subsequent renewal
thereof on 26 September 2017. The Proposed Delisting assessment is still in
progress and this announcement, therefore, does not constitute an offer or an
undertaking to make an offer to Shareholders by any party, including by BSI.

The Proposed Delisting may have a material effect on the price of the Company’s
securities. Accordingly, Shareholders are advised to continue exercising caution
when dealing in the Company’s securities until a further announcement regarding the
Proposed Delisting is made or this cautionary announcement is withdrawn.

Johannesburg
14 November 2017

Designated Advisor and Corporate Advisor
Sasfin Capital (a member of the Sasfin group)

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