Results of the Annual General Meeting and Change of Designated Audit Partner CARGO CARRIERS LIMITED (Registration Number 1959/003254/06) Share code: CRG ISIN: ZAE000001764 ("Cargo Carriers" or "the Company" or “the Group”) RESULTS OF THE ANNUAL GENERAL MEETING AND CHANGE OF DESIGNATED AUDIT PARTNER Shareholders are advised that the Annual General Meeting (“AGM”) of shareholders was held on Thursday, 26 July 2018 and the details of the results of voting at the AGM are as follows: - Total number of Cargo Carriers shares in issue at the date of the AGM: 21 052 632 - Total number of Cargo Carriers shares that were present/represented at the AGM: 16 232 263, being 77% of the total number of ordinary shares that could have been voted on at the AGM. Abstain Total Votes For Against: (% of issued (excluding Resolution proposed % % share capital) abstentions) Ordinary resolution number 1 – Acceptance of financial statements 16 231 563 0 700 16 231 563 100% 0.00% 0.00% 100% Ordinary resolution number 2 – Director appointment – LS Letsoalo 16 231 563 0 700 16 231 563 100% 0.00% 0.00% 100% Ordinary resolution number 3 – Director appointment – V Raseroka 16 231 563 0 700 16 231 563 100% 0.00% 0.00% 100% Ordinary resolution number 4 – Director appointment – SP Mzimela 16 231 563 0 700 16 231 563 100% 0.00% 0.00% 100% Ordinary resolution number 5 – Re-appointment and remuneration of auditors 16 231 563 0 700 16 231 563 100% 0.00% 0.00% 100% Ordinary resolution number 6 – Appointment of audit and risk committee 16 231 563 0 700 16 231 563 member – SF Nomvalo 100% 0.00% 0.00% 100% Ordinary resolution number 7 – Appointment of audit and risk committee 16 231 563 0 700 16 231 563 member – V Raseroka 100% 0.00% 0.00% 100% Ordinary resolution number 8 – Appointment of audit and risk committee 16 231 563 0 700 16 231 563 member – A Gcabashe 100% 0.00% 0.00% 100% Ordinary resolution number 9 – Appointment of audit and risk committee 16 231 563 0 700 16 231 563 member – N Medupe 100% 0.00% 0.00% 100% Ordinary resolution number 10 – 16 231 563 0 700 16 231 563 Endorsement of remuneration policy 100% 0.00% 0.00% 100% Ordinary resolution number 11 – Endorsement of remuneration implementation 16 231 563 0 700 16 231 563 report 100% 0.00% 0.00% 100% Special resolution number 1 – 3 216 797 13 014 766 700 16 231 563 General authority to repurchase shares 19.82% 80.18% 0.00% 100% Special resolution number 2 – Approval of non-executive directors’ 16 231 563 0 700 16 231 563 remuneration 100% 0.00% 0.00% 100% Special resolution number 4 – 16 231 563 0 700 16 231 563 General authority to provide financial assistance 100% 0.00% 0.00% 100% Ordinary Resolution number 12 dealing with the general authority to issue shares for cash and Special Resolution number 3 dealing with the authority to issue shares, securities convertible into shares or rights that may exceed 30% of the voting power of the current issued share capital were withdrawn at the Annual General Meeting. CHANGE IN DESIGNATED AUDIT PARTNER Shareholders are advised that Ms Busisiwe Ziningi Khoza has been appointed as the designated audit partner for the financial year ending 28 February 2019. Ms Khoza is replacing Mr David Ian Cathrall who is retiring from Ernst & Young (“EY”). The change in the designated audit partner is effective immediately. EY remains as the Company’s external auditor. The Board, would like to thank Mr Cathrall for his contribution over the past years and wish him well in his retirement. Johannesburg 30 July 2018 Sponsor Arbor Capital Sponsors Proprietary Limited Date: 30/07/2018 02:23:00 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.