Trading statement in respect of the six months ended 31 December 2014

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 2014 are anticipated to be at least 45% (R1 053 million) less than those for the same period in the previous financial year. Headline earnings per share are anticipated to be at least 45% (488 cents) less than those for the same period in the previous financial year.

Headline earnings reported for the six months ended 31 December 2013 were R2 341 million, while headline earnings per share were 1 084 cents.

The decrease in headline earnings is largely attributable to the fall in US Dollar export commodity prices in comparison to those achieved in the previous period, especially for iron ore, partially offset by a weaker exchange rate during the period.

ARM’s basic earnings are expected to be negatively impacted by an unrealized mark-to-market loss on its Harmony Gold Mining Company Limited (�Harmony�) investment due to the fall in the Harmony share price below the previously reported level of R25.90 per share, below which further mark- to-market adjustments through the income statement would be required. Based on the current Harmony share price of approximately R18.44 per share the basic earnings for the period to 31 December 2014 will be reduced by an income statement charge of approximately R385 million after tax. This calculation will only be finalised based on the Harmony share price on 31 December 2014.

Basic earnings reported for the six months ended 31 December 2013 were R1 714 million, while basic earnings per share were 794 cents.

Accordingly, ARM announces that basic earnings for the six months ended 31 December 2014 are anticipated to be at least 55% (R943 million) less than those for the same period in the previous financial year. Basic earnings per share are anticipated to be at least 55% (437 cents) less than those for the same period in the previous financial year.

Shareholders are advised that a further trading statement will be issued as soon as there is a reasonable degree of certainty as to the likely range within 20%, by which the Company’s headline earnings per share and basic earnings per share are expected to decrease.

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 interim results will be released in March 2015.

For all investor relations queries, please contact:

Stompie Shiels
Executive: Business Development
Office: +27 11 779 1300
E-mail: stompie.shiels@arm.co.za

Johannesburg
3 December 2014

Sponsor: Deutsche Securities (SA) (Proprietary) Limited