Results of general meeting BSI Steel Limited (Incorporated in the Republic of South Africa) (Registration number 2001/023164/06) JSE code: BSS ISIN: ZAE000125134 (“BSI” or "the Company") RESULTS OF GENERAL MEETING BSI shareholders (“Shareholders”) are referred to the circular dated 22 December 2017 (“Circular”) regarding a scheme of arrangement in terms of section 114 of the Companies Act, the delisting of BSI’s shares from Alt x and amendments to the rules of the SARS (“Transaction”). Where applicable, words and expressions in this announcement shall have the same meaning as assigned to them in the Circular. Shareholders are advised that at the general meeting held today, 24 January 2018 (“GM”), the resolutions set out below with regard to the Transaction were duly approved by the requisite majority of Shareholders present and voting. Details of the results of the voting are as follows: Resolution Shares voted Shares voted Shares voted Shares for against abstained Special Resolution Number 1 275 106 702 379 153 275 485 855 59 200 Approval of the Scheme in accordance 99.86% 0.14% 0.01% with section 48(8)(a) of the Companies Act Special Resolution Number 2 275 098 895 386 960 275 485 855 59 200 Scheme Resolution (in accordance with 99.86% 0.14% 0.01% sections 48(8)(b) and 115(2) of the Companies Act) Special Resolution Number 3 275 485 702 153 275 485 855 59 200 Revocation of Special Resolution 100.00% 0.00% 0.01% Number 2 if the Scheme is not implemented and Dissenting Shareholders have exercised their appraisal rights under section 164 of the Companies Act Ordinary Resolution Number 1 275 098 895 379 153 275 478 048 67 007 Approval for the Delisting in terms of 99.86% 0.14% 0.01% paragraph 1.14(a) of the Listings Requirements Ordinary Resolution Number 2 275 106 702 379 153 275 485 855 59 200 Amendment to the SARS rules in terms 99.86% 0.14% 0.01% of paragraph 14.2 of Schedule 14 of the Listings Requirements Ordinary Resolution Number 3 275 098 895 379 153 275 478 048 67 007 Authority granted to Directors 99.86% 0.14% 0.01% Notes: 1. There were 719 854 996 Shares in issue as at the date of the GM. 2. 275 545 055 Shares were voted in person or by proxy (excluding Shares held by William Battershill and his associates being 326 157 520 Shares representing 45.31% of the Shares in issue) at the GM being 38.27% of the total number of Shares in issue. 3. Abstentions are represented as a percentage of the total number of Shares in issue while the Shares voted for and against are represented as a percentage of the Shares voted. Johannesburg 24 January 2018 Corporate Advisor and Designated Advisor Sasfin Capital (a member of the Sasfin Group) Legal Advisor Werksmans Incorporated Date: 24/01/2018 03:09:00 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.