Further Trading Statement Comair Limited (Incorporated in the Republic of South Africa) (Registration Number: 1967/006783/06) ISIN: ZAE00002983 Share Code: COM (“Comair” or “the Company”) FURTHER TRADING STATEMENT In terms of the JSE Limited Listings Requirements, companies are required to provide guidance to the market when they are satisfied that a reasonable degree of certainty exists that the financial results for the current reporting period will differ by at least 20% from the results of the previous corresponding reporting period. Shareholders are referred to the announcement released on SENS on 15 February 2019 wherein they were advised of the court awarded settlement of R1.1 billion plus interest, in respect of SAA’s anti-competitive travel agent incentive schemes (“the Award”). Further to the trading statement released on SENS on 4 July 2019, shareholders are advised that for the year ended 30 June 2019, earnings per share (“EPS”) is 192.4 cents per share, which is 175% higher than the earnings per share reported for the year ended 30 June 2018 (“the Comparative Period”), being 69.8 cents per share. Headline earnings per share (“HEPS”) is 197.2 cents per share and is 184% higher than the headline earnings per share reported for the Comparative Period, being 69.5 cents per share. The increases are a direct consequence of the Award. The effects of the Award will be fully disclosed in the financial results. The financial information on which this trading statement is based has not been reviewed and reported on by Comair’s external auditors. The results for the year ending 30 June 2019 are expected to be released on SENS on or about 17 September 2019. Bonaero Park 17 September 2019 Sponsor PSG Capital IMPORTANT NOTICE TO FOREIGN SHAREHOLDERS AND PROSPECTIVE INVESTORS FOREIGN SHAREHOLDERS AND PROSPECTIVE INVESTORS IN COMAIR LIMITED (“COMAIR”) SHOULD NOTE THAT, IN ORDER TO ENABLE COMAIR (AS A LICENSED AIR SERVICES OPERATOR IN SOUTH AFRICA) TO REMAIN COMPLIANT WITH THE FOREIGN OWNERNSHIP RESTRICTION CONTAINED IN SECTIONS 16 (4) ( c ) AND 19(a) OF THE AIR SERVICES LICENSING ACT, NO. 115 OF 1990, THE VOTING RIGHTS OF SHAREHOLDERS MAY BE DECREASAED PROPORTIONATELY SUCH THAT THE VOTING RIGHTS OF FOREIGN SHAREHOLDERS DO NOT, IN AGGREGATE, EXCEED 24.99%. FOREIGN SHAREHOLDERS AND PROSPECTIVE INVESTORS ARE REFERRED TO COMAIR’S MEMORANDUM OF INCORPORATION AND WEBSITE (www.comair.co.za) FOR FURTHER DETAIL. IF FOREIGN SHAREHOLDERS OR PROSPECTIVE INVESTORS ARE IN ANY DOUNT AS TO WHAT ACTION TO TAKE THEY SHOULD SEE ADVICE FROM THEIR BROKER, ATTORNEY OR OTHER PROFESSIONAL ADVISER. Date: 17/09/2019 08:30:00 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.