Trading statement for the interim period ended 30 June 2018 Howden Africa Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 1996/002982/06) Share code: HWN ISIN: ZAE000010583 ("HAHL" or “the Company”) TRADING STATEMENT FOR THE INTERIM PERIOD ENDED 30 JUNE 2018 Subsequent to the update of results on the 28th March 2018, shareholders are advised that HAHL is expecting earnings per share ("EPS") and headline earnings per share (“HEPS”) for the six month period ending 30th June 2018 to be between 112.90 and 149.34 cents and 112.89 and 149.37 cents respectively, this is a decline of between 18% and 38% in comparison to the corresponding period. Movements provided are based on restatement of prior period EPS and HEPS with the adoption of IFRS 15. The prior period EPS and HEPS have moved from 184.51 and 184.64 cents to 182.23 and 182.36 cents respectively. The deterioration of the results is a consequence of entering the year with a lower order book combined with a decline in order intake primarily within the power market. The ongoing financial constraints of customers, subdued economic outlook and general industry uncertainty has created challenging trading environment for the Company with an impact on revenue and pressure on traditional trading margins. This financial information has not been reviewed and reported on by the auditors of HAHL. In recognition of shareholder requests for more expedient interim reporting, the results for the year ended 30 June 2018 are expected to be published on or about 31 July 2018. 19 July 2018 Sponsor PricewaterhouseCoopers Corporate Finance (Pty) Limited Date: 19/07/2018 05:20:00 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.