Trading Statement BELL EQUIPMENT LIMITED (Incorporated in the Republic of South Africa) Registration number 1968/013656/06 ISIN: ZAE000028304 Share Code: BEL (“the Company”) TRADING STATEMENT Shareholders are advised that the Company expects to report an earnings loss per share and a headline loss per share of at least 10 cents, a reduction of 89 cents per share or 113% and of 90 cents per share or 113% respectively, for the year ended 31 December 2020 when compared to the earnings per share and headline earnings per share of 79 cents and 80 cents respectively for the year ended 31 December 2019. A further trading statement for the year ended 31 December 2020 will be released on SENS once the Company has reasonable certainty regarding the extent of the expected decrease in its results for the year ended 31 December 2020. The expected decrease in earnings is mainly due to weak economic conditions and the impact of measures taken by governments globally to curb the spread of the COVID-19 pandemic which has had a negative impact on production and sales performance. The Company has generated positive cashflow during the year, mainly due to a more conservative outlook on sales, lower production volumes and reducing inventory in line with market demand. The financial information on which this trading statement is based has not been reviewed and reported on by the Company’s external auditors. The results for the year ended 31 December 2020 are expected to be announced on SENS on or about 26 March 2021. Richards Bay 4 December 2020 Sponsor: INVESTEC BANK LIMITED Date: 04-12-2020 11:57:00 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.