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Trading statement in respect of the financial year ended 30 June 2018 (F2018)

22 August 2018

In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited, a listed company is required to publish a trading statement as soon as it is satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported on next will differ by at least 20% from those of the corresponding period.

Headline earnings per share for F2018 are expected to increase by between 41% and 54% to between 2 370 and 2 590 cents compared to 1 684 cents reported for the financial year ended 30 June 2017 (F2017).

Basic earnings per share for F2018 are expected to increase by between 221% and 239% to between 2 320 and 2 450 cents (F2017: 723 cents). F2017 basic earnings included attributable impairments of the Nkomati Mine and Modikwa Mine assets of R711 million and R734 million after tax and non- controlling interest, respectively.

Both basic and headline earnings for F2018 were positively affected by an increase in average realised US Dollar prices for most commodities (partially offset by a stronger Rand/US Dollar exchange rate) and a net group fair value gain of R977 million (or 513 cents per share) as a result of the ARM Coal debt restructuring. This fair value gain is included in headline earnings.

The financial information on which this trading statement is based has neither been reviewed nor reported on by the external auditors of ARM.

The Company’s F2018 provisional financial results will be released on 7 September 2018.

For all investor relations queries please contact:

Jongisa Magagula
Corporate Development and Head of Investor Relations
Office: +27 11 779 1507
Email: jongisa.magagula@arm.co.za

Johannesburg
22 August 2018

Sponsor: Deutsche Securities (SA) Proprietary Limited

Investor Relations

Jongisa Magagula
Head of Investor Relations and Corporate Development

Tel: +27 (0) 11 779 1300
E-mail: jongisa.magagula@arm.co.za



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