Trading Statement Libstar Holdings Limited (Incorporated in the Republic of South Africa) (Registration number: 2014/032444/06) JSE share code: LBR ISIN: ZAE000250239 (“Libstar” or the "Group") TRADING STATEMENT In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited, Libstar is required to publish a trading statement as soon as it is satisfied that a reasonable degree of certainty exists that the financial results for the 6 months ended 30 June 2018, will differ by at least 20% from those of the previous corresponding 6 months ended 30 June 2017. Shareholders are advised that: - Earnings per share (“EPS”) and headline earnings per share (“HEPS”) from continuing operations is expected to be between 11 cents and 14 cents or between 44% and 56% lower than the 25 cents for the comparative period; - EPS from discontinued operations is expected to be between 1.3 cents loss and 0.7 cents loss or between 57% and 77% higher than the 3 cents loss for the comparative period; and - HEPS from discontinued operations is expected to be between 1.2 cents loss and 0.8 cents loss or between 40% and 60% higher than the 2 cents loss for the comparative period. EPS and HEPS include the effect of the issue of 120 million shares at R12.50 per share in terms of the Group’s initial public offering (IPO), which increased the weighted average number of shares in issue (net of treasury shares) from 468.9 million shares in the comparative period to 523.3 million in the current period, an increase of 11.6%. OPERATIONAL UPDATE In a challenging trading environment, Libstar has shown strong revenue growth during the reporting period. However, gross profit margins were negatively impacted by a national oversupply of fresh mushrooms and the lower-margin Sonnendal Dairies business acquisition which has enhanced the Group’s yoghurt manufacturing capabilities. Despite these market conditions, Adjusted EBIT, presented in accordance with the accounting policies set out in the Group’s pre-listing statement dated 24 April 2018, and after adjustment for amortisation of customer contracts, unrealised foreign exchange movements, share appreciation rights as well as other non-operating expenditure, is expected to be between R310 million and R320 million compared to R319.4 million for the comparative period. Adjusted EBITDA is expected to be between R385 million to R400 million or 1% to 5% higher than the R381.3 million for the comparative period. The financial information on which this trading statement is based has not been reviewed or reported on by Libstar’s external auditors. Libstar expects to publish its reviewed interim financial results for the 6 months ended 30 June 2018 on Tuesday, 4 September 2018. Johannesburg 17 August 2018 Sponsor The Standard Bank of South Africa Limited Investor relations Nicholas Williams Patamola nicholas@patamola.co.za +27 82 600 2192 Date: 17/08/2018 09:00:00 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.