Trading Statement South Ocean Holdings Limited (Registration number 2007/002381/06) Incorporated in the Republic of South Africa (“South Ocean Holdings”, “the Group”) Share code: SOH ISIN: ZAE000092748 TRADING STATEMENT In terms of paragraph 3.4(b)(i) of the Listings Requirements of the Johannesburg Stock Exchange (“JSE”), listed companies are required to publish a trading statement as soon they become reasonably certain that the financial results for the period to be reported on will differ by at least 20% from those of the previous corresponding period. Shareholders are advised that: - The loss per share for the interim period ended 30 June 2018 is expected to be between 5.7 cents and 7.6 cents per share, reflecting an improvement of between 61% and 71%, when compared to the loss of 19.5 cents per share reported for the prior period ended 30 June 2017 interim period; and - The headline loss per share for the interim period ended 30 June 2018 is expected to be between 0.2 cents and 1.2 cents per share reflecting an improvement of between 88% and 98% when compared to the loss per share of 10.2 cents per share reported for the prior period ended 30 June 2017. The financial information on which this trading statement is based has not been reviewed and reported on by the Company’s auditors. The Company expects its results for the period ended 30 June 2018 to be released on SENS on or about 8 August 2018. Johannesburg 1 August 2018 Sponsor Arbor Capital Sponsors Proprietary Limited Date: 01/08/2018 05:44:00 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.