Potential acquisition and cautionary announcement HOSKEN PASSENGER LOGISTICS AND RAIL LIMITED (Incorporated in the Republic of South Africa) Registration number: 2015/250356/06 Share code: HPR ISIN: ZAE000255907 (“HPLR” or the “Company”) POTENTIAL ACQUISITION AND CAUTIONARY ANNOUNCEMENT Shareholders are advised that the Company has entered into negotiations to purchase the remaining shareholdings not already held by its wholly-owned subsidiary, Golden Arrow Bus Services (Pty) Ltd (“GABS”), in Sibanye Bus Services Proprietary Limited (“Sibanye”) and Table Bay Area Rapid Transport Proprietary Limited (“TBRT”), with a view to expanding HPLR’s interest in its bus and transport operations in the Western Cape. Pursuant to the acquisition by GABS of the shares in TBRT and Sibanye held by Abahlobo Transport Service Proprietary Limited (“Abahlobo”), the terms of which were notified to shareholders in the Company’s SENS announcement published on 29 March 2019, GABS holds 66.67% of the issued shares of Sibanye and 75% of the issued shares in TBRT. GABS has approached the remaining shareholder of Sibanye and TBRT, being Siyakhula Bus Services Proprietary Limited, in this regard. While the purchase consideration to acquire the shareholdings in Sibanye and TBRT are still to be finally agreed, HPLR anticipates that, should the acquisitions proceed and such purchase amounts be aggregated, they would result in these acquisitions, between them, qualifying as a category 2 transaction by the Company under the JSE Listings Requirements. While the negotiations of the above transactions are still ongoing and the acquisition of some or both of these shareholdings may not proceed, the Company nevertheless considers it prudent to inform shareholders of the potential transaction. Shareholders are advised that the above negotiations, if successfully concluded, may have a material effect on the price of the Company’s securities. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until a full announcement is made. Cape Town 7 June 2019 Sponsor Investec Bank Limited Legal adviser Edward Nathan Sonnenbergs Inc Date: 07/06/2019 03:20:00 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.