Voluntary Trading Statement For The Six Months Ended 31 December 2019 MURRAY & ROBERTS HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration number 1948/029826/06 JSE Share Code: MUR ADR Code: MURZY ISIN: ZAE000073441 (“Murray & Roberts” or the “Company” or “Group”) VOLUNTARY TRADING STATEMENT FOR THE SIX MONTHS ENDED 31 DECEMBER 2019 When compared to the previous corresponding six-month period to 31 December 2018, Murray & Roberts expects the order book, revenue from continuing operations and total earnings before interest and tax to show improvement. However, the Group expects a decline in attributable earnings, following an increase in interest expense. Accordingly, the Group expects a decline in total earnings per share (“EPS”) and headline earnings per share (“HEPS”), for the six months to 31 December 2019 (“FY2020 H1”). The Company expects to report FY2020 H1 results within the following ranges: 31 December 2019 31 December 2019 31 December 2018 Expected range Expected range Actual (%) (cps) (cps) EPS Basic EPS (17) – (4) 39 – 45 47 Diluted EPS (17) – (4) 38 – 44 46 HEPS Basic HEPS (17) – (4) 38 – 44 46 Diluted HEPS (16) – (2) 38 – 44 45 A STABLE BUSINESS GAINING MOMENTUM Over the past number of years, Murray & Roberts transformed into a multinational specialised engineering and construction Group, delivering projects across five continents. The New Strategic Future strategy, underpinned by the philosophy of Engineered Excellence, included the disposal of non-core businesses and refocused the Group on the natural resources sector. The Group returned to profitability during a period of prolonged adverse market conditions and resumed paying annual dividends. Murray & Roberts has now established a stable base from which it can grow organically and through acquisition. The Group remains optimistic about the longer-term outlook for the natural resources markets, and the selected complementary markets should bring some mitigation to the impact of cyclicality in the natural resources market. PUBLICATION OF INTERIM FINANCIAL RESULTS Murray & Roberts intends to publish its interim financial results for the six months to 31 December 2019 on SENS on Wednesday, 4 March 2020 before 17:00 (CAT). Shareholders are advised that the financial information on which this voluntary trading statement is based, has not been audited or reviewed and reported on by the Group’s external auditors. Bedfordview 27 February 2020 Sponsor The Standard Bank of South Africa Limited Date: 27-02-2020 11:00:00 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.