Changes to the Board and trading statement WILSON BAYLY HOLMES - OVCON LIMITED Building and civil engineering contractors (Registration no. 1982/011014/06) ISIN No: ZAE 000009932 Share code: WBO (“WBHO” or “the Company”) CHANGES TO THE BOARD AND TRADING STATEMENT Change in responsibilities and appointment of executive director Mike Wylie, after 45 years of exemplary service, has indicated that he intends to retire at our Annual General Meeting on the 20th November 2019. His leadership throughout this time has resulted in the continued growth and stability of WBHO. In line with WBHO policy of management continuity the Board appointed our CEO, Louwtjie Nel, as Executive Chairman, ensuring the constructive and effective relationship between the Board and Executive Management continues. Wolfgang Neff, (BSc (Civil), Pr Eng, Pr CM), will replace Louwtjie as Chief Executive Officer. He joined WBHO 22 years ago and has been Managing Director of our North and Africa Building Divisions for the past 7 years. The Board wishes Mike a well-deserved retirement and congratulates Louwtjie and Wolfgang. Trading Statement Shareholders are referred to the market update published on SENS of the JSE Limited on 28 June 2019 in which stakeholders were advised of developments within the group over the second six months of the financial year ending 30 June 2019. The directors of WBHO now hereby advise shareholders that, in respect of the consolidated financial results for the year ended 30 June 2019, earnings per share and headline earnings per share are expected to vary by the percentages and amounts included in the table below:- 30 June 2019 30 June 2019 30 June 2018 % range between between Continuing operations Earnings per share (cents) 45% to 35% down 844 and 997 1534,3 Headline earnings per share (cents) 40% to 30% down 849 and 990 1414,6 Total operations Earnings per share (cents) 45% to 35% down 844 and 997 1534,3 Headline earnings per share (cents) 40% to 30% down 849 and 990 1414,6 The forecast loss position on the Western Roads Upgrade (WRU) project in Melbourne Australia, as previously reported has negatively affected the operating performance of the group in the current financial year. The summarised consolidated financial statements for the year ended 30 June 2019 are expected to be released on SENS on 3 September 2019. This statement has not been reviewed nor reported on by the Company’s auditors. By order of the Board Johannesburg 19 August 2019 Sponsor: Investec Bank Limited Date: 19/08/2019 01:28:00 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.