Trading Statement AFRICAN PHOENIX INVESTMENTS LIMITED Incorporated in the Republic of South Africa (Registration number 1946/021193/06) Ordinary share code: AXL ISIN: ZAE000221370 Hybrid instrument code: AXLP ISIN: ZAE000221388 (“Phoenix” or “the Company”) TRADING STATEMENT In terms of the Listings Requirements of JSE Limited, 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 that of the previous corresponding period. Accordingly, a review of the financial results for the six-months ended 31 March 2018 by management has indicated that the earnings per share (“EPS”) and headline earnings per share (“HEPS”) is expected to be between 1.85 cents and 1.00 cent, reflecting a decrease of between 55% and 75% compared to the EPS and HEPS of 4.1 cents for the six months ended 31 March 2017. The financial information on which this trading statement is based has not been reviewed or reported on by the Company’s auditors. Phoenix’s financial results are expected to be released on SENS on or about 27 June 2018. Johannesburg 14 June 2018 Sponsor Merchantec Capital Date: 14/06/2018 04:08:00 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.
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