Trading Statement GRAND PARADE INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1997/003548/06) Share code: GPL ISIN: ZAE000119814 (“GPI” or “the Company”) TRADING STATEMENT In terms of the JSE Limited Listings Requirements, a listed company is required to publish a trading statement as soon as it becomes reasonably certain that the financial results for the next period to be reported on will differ by 20% or more from the financial results for the previous corresponding period. GPI hereby advises that a reasonable degree of certainty exists that for the six months ended 31 December 2018 earnings will be as follows: 31 December 31 December 2018 31 December 2017 actual expected range 2018 expected % (cents) (cents) change Basic earnings per share 2.92 (8.52) to (7.94) (392%) to (372%) Continuing operations 6.97 7.69 to 9.09 10.4% to 30.4% Discontinued operations (4.05) (17.03) to (16.22) (320%) to (300%) Headline earnings per share 3.20 3.43 to 4.07 7.2% to 27.2% Continuing operations 7.25 7.81 to 9.26 7.7% to 27.7% Discontinued operations (4.05) (5.19) to (4.38) (28.1%) to (8.1%) The decrease in the basic earnings per share is due to the impairment of Dunkin’ Donuts and Baskin-Robbins, which was liquidated subsequent to 31 December 2018 and is reported as part of discontinued operations. The financial information on which this trading statement is based has not been reviewed and reported on by GPI’s external auditors. The financial results for the period ended 31 December 2018 will be published on or about 18 March 2019. Cape Town 13 March 2019 Sponsor and corporate advisor: PSG Capital Date: 13/03/2019 07:05:00 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.