Trading Statement HOSKEN CONSOLIDATED INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1973/007111/06) (Share code: HCI & ISIN: ZAE000003257) ("HCI" or "the company") TRADING STATEMENT In terms of section 3.4 (b) of the JSE Limited Listings Requirements, companies are required to publish a trading statement as soon as they are reasonably certain that the financial results for the current reporting period will be more than 20% different than that of the previous corresponding period. Shareholders are hereby advised that a reasonable degree of certainty exists that for the period ended 30 September 2019, the Company will report basic earnings per share of between 274.0 cents and 300.8 cents, being a decrease of between 48.9% and 43.9% as compared to basic earnings per share of 536.1 cents for the prior comparative period, and headline earnings per share of between 452.1 cents and 481.2 cents, being a decrease of between 22.2% and 17.2% as compared to headline earnings per share of 581.2 cents for the prior comparative period. The results include the Group’s effective portion of the impairment of certain exploration assets by its oil and gas exploration interests in the current period, as well as equity losses from recent investments in the palladium prospecting and renewable energy sectors. The above information has not been reviewed or reported on by the Company`s auditors. The Company`s results are expected to be published on or about 21 November 2019. Cape Town 20 November 2019 Sponsor: Investec Bank Limited Date: 20/11/2019 10:33:00 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.