Cautionary announcement Tongaat Hulett Limited Registration number 1892/000610/06 Share code: TON ISIN ZAE000096541 (“Tongaat Hulett” or “the company”) CAUTIONARY ANNOUNCEMENT Further to the recent trading update, the Board wishes to advise shareholders that meaningful progress is being made with the formulation of a comprehensive turnaround strategy for Tongaat Hulett. Although the formulation of the strategy is still at an early stage, the Board is encouraged by the quality of work performed. The circumstances faced by the company remain challenging. The ongoing strategic and financial review of the company has however revealed certain practices which will require further examination and which, if verified, might require remedial actions, including, in some instances, assessing the impact on previously reported financial information. As this has only just come to light, the Board does not have sufficient information to provide further details at this time. The Board is affording this matter its urgent attention. To facilitate a comprehensive review of these practices and allow executive management to focus on the strategic review and the repositioning of the business, the Board has appointed PwC to assist. The full impact is being determined and might have a material effect on the price of the company’s securities. Accordingly, shareholders are advised to exercise caution when dealing in the company’s securities. Tongaat 8 March 2019 Legal advisers Bowman Gilfillan Inc. Sponsor Investec Bank Limited Date: 08/03/2019 02:35:00 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.