Trading Statement in respect of the six months ended 31 December 2018 (1H F2019)

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 previous corresponding period.

ARM’s headline earnings for the six months ended 31 December 2018 (1H F2019) were positively affected by an increase in average realised US Dollar prices for most of the commodities that ARM produces and a weaker average realised Rand/US Dollar exchange rate. Headline earnings per share for 1H F2019 are therefore expected to increase by between 8% and 15% to between 1 100 and 1 180 cents (1H F2018: 1 023 cents).

Basic earnings for 1H F2019 were negatively impacted by an attributable impairment of Nkomati Mine of R892 million after tax and are expected to reduce by between 24% and 30% to between 650 cents and 700 cents per share. Basic earnings per share for the corresponding period (1H F2018) were 922 cents.

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 1H F2019 financial results will be released on 1 March 2019.

For all investor relations queries please contact:

Jongisa Magagula
Corporate Development and Head of Investor Relations
Tel: +27 11 779 1507
E-mail: jongisa.magagula@arm.co.za

Johannesburg
15 February 2019

Sponsor: Investec Bank Limited