Further trading statement - year ended 31 December 2018 TRENCOR LIMITED (Incorporated in the Republic of South Africa) (Registration No 1955/002869/06) Share Code: TRE ISIN: ZAE000007506 (“Trencor”) FURTHER TRADING STATEMENT - YEAR ENDED 31 DECEMBER 2018 Shareholders are referred to the trading statement published on the Stock Exchange News Service (“SENS”) on 28 January 2019 wherein it was advised that Trencor’s basic earnings per share for the year ended 31 December 2018 were expected to be between 1 255 and 1 290 cents per share. In addition, it was advised that Trencor’s headline loss per share was expected to be between 1 850 and 1 880 cents per share. Shareholders are now advised that Trencor’s basic earnings per share and headline loss per share are expected to be within the ranges set out below: 2018 2017 31 December 31 December Expected Actual Cents Cents Basic earnings/(loss) per share 1 595 – 1 630 (181,5) Headline (loss)/earnings per share (1 800) – (1 830) 149,4 The financial information on which this further trading statement is based has not been reviewed nor reported on by Trencor’s independent auditors. The reviewed provisional financial results for the year ended 31 December 2018, including an updated net asset value calculation, are expected to be published on SENS on or about 29 March 2019. On behalf of the Board Hennie van der Merwe Chief Executive Officer 27 March 2019 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) www.trencor.net Date: 27/03/2019 03:25:00 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.