Investor Centre

TRADING STATEMENT FOR THE YEAR ENDED 29 FEBRUARY 2016

In compliance with paragraph 3.4 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 next period to be reported on are likely to vary by more than 20% from the previous corresponding period.

The Group has continued the process of implementing its focussed strategy driven by the rationalisation and balancing of the Group’s existing portfolio of assets to reposition the Group. This process was started in September 2014. The impact of these activities on the financial results for the year ended 29 February 2016 is further explained below.

SACOIL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1993/000460/06) JSE Share Code: SCL AIM Share Code: SAC ISIN: ZAE000127460 (“SacOil” or “the Company”) UPDATE ON THE AFRICAN RENAISSANCE GAS PIPELINE IN MOZAMBIQUE Further to the announcement on 1 March, 2016, SacOil announces that a Joint Venture Agreement for the development of…

AWARD OF CRUDE ALLOCATION BY THE NNPC

Key highlights:

• SacOil and Energy Equity Resources (“EER”) (the “Partners”) signed a memorandum of understanding (“MOU”) to explore oil and gas opportunities in the Republic of Nigeria.
• Pursuant to the initiative, SacOil and EER, was awarded a twelve (12) month term contract for the purchase of Nigerian Crude Oil Grades by the Nigerian National Petroleum Corporation (“NNPC”).

SACOIL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1993/000460/06) JSE Share Code: SCL AIM Share Code: SAC ISIN: ZAE000127460 (“SacOil” or “the Company”) Completion Of Phase 2 Development Programme – Lagia Oil Field SacOil Holdings Limited, on behalf of its subsidiary, Mena International Petroleum Company Limited (“Mena”), is pleased to announce…

COOPERATION AGREEMENT CONCLUDED WITH NEW PARTNERS AND THE CHINA PETROLEUM PIPELINE BUREAU FOR THE CONSTRUCTION OF THE AFRICAN RENAISSANCE GAS PIPELINE IN MOZAMBIQUE

On 8 December 2014, SacOil announced that it had entered into a Joint Development Agreement (“JDA”) with the Public Investment Corporation SOC Limited (“PIC”) and The Instituto de Gestão das Participações do Estado (“IGEPE”). The JDA set out the terms for an evaluation of the technical and commercial feasibility of the construction of a gas pipeline and distribution facility intended to carry natural gas from Mozambique’s Rovuma fields to South Africa, with off-takes to other neighbouring Southern African Development Community (“SADC”) countries (“the Project”).

SacOil announces proposed reorganisation changes to its indirect participating interest in Block III, Albertine Graben (“Block III”) in the Democratic Republic of Congo (“DRC”), currently held by its indirect subsidiary Semliki Energy SARL (“Semliki”). The reasons for the reorganisation of the ownership structure are to enable SacOil to represent its interest in Block III directly and to have direct line of sight to the activities of Block III. The impact of the reorganisation is that the assets and liabilities related to fellow Semliki shareholder, Divine Inspiration Group Proprietary Limited (“DIG”), will be retained in Semliki.

SACOIL HOLDINGS LIMITED Incorporated in the Republic of South Africa) (Registration number 1993/000460/06) JSE Share Code: SCL AIM Share Code: SAC ISIN: ZAE000127460 (“SacOil” or “the Company”) COMMENCEMENT OF 2D SEISMIC DATA ACQUISITION, BLOCK III, ALBERTINE GRABEN, DEMOCRATIC REPUBLIC OF CONGO With the granting of a two-year extension to current exploration period of Block III…