Revised trading statement for the year ended 31 December 2018 Hulamin Limited (Incorporated in the Republic of South Africa) (Registration number 1940/013924/06) Share code: HLM ISIN: ZAE000096210 ("Hulamin" or "the Company") REVISED TRADING STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2018 Shareholders are referred to the trading statement for the year ended 31 December 2018, published on 28 February 2019, in which shareholders were advised that Hulamin expected earnings per share (“EPS”), headline EPS (“HEPS”) and normalised¹ EPS for the year ended 31 December 2018 to be within the ranges shown below: 31/12/2018 31/12/2017 Expectation at 28/02/2019 Restated (cents) (cents) EPS -248(-361%) to -242(-354%) 95 HEPS 93(-2%) to 99(+4%) 95 Normalised¹ EPS 79(+23%) to 85(+32%) 64 Shareholders are now advised that, following finalisation of the Company’s results, Hulamin’s change in EPS, HEPS and normalised¹ EPS for the year ended 31 December 2018 will be as follows: 31/12/2018 31/12/2017 Revised (cents) Restated (cents) EPS -242 (-355%) 95 HEPS 91 (-4%) 95 Normalised¹ EPS 77 (+20%) 64 ¹ Normalised earnings are defined as earnings excluding metal price lag, non-recurring items and once-off adjustments. The revision relates principally to adjustments to the impairments arising within the Rolled Products and Extrusions cash generating units and deferred tax adjustments. The financial information on which this trading statement is based has not been reviewed or reported on by the Company’s external auditors. Hulamin’s results for the year ended 31 December 2018 are expected to be released on the Stock Exchange News Service on or about 19 March 2019. Pietermaritzburg 18 March 2019 Sponsor Questco Corporate Advisory Proprietary Limited Date: 18/03/2019 08:10:00 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.