Investor Centre

SacOil Holdings Limited is pleased to announce its results for the year ended 28 February 2013. The Group reported a reduction in the loss from continuing operations to R70,1 million (2012: R104,1 million). Contributing towards this positive trend were the disposal of the loss-making Greenhills Manganese plant, the farm-out profit on the Block III exploration and evaluation asset, an increase in investment income by 59%, a 76% reduction in taxation and a 46% reduction in finance costs.

SacOil, the African independent upstream oil and gas company, is pleased to announce that it has concluded an agreement dated 12 September 2013 (the “Gairloch Agreement”) with Gairloch Limited (“Gairloch”) for the conversion of circa US$24.1 million (circa R238.5 million) of debt and accrued interest provided by Gairloch to equity in SacOil by no later than 31 January 2014 (the “Specific Issue”). To the extent that the maximum number of shares is issued in terms of the Specific Issue, SacOil shall be largely debt-free, thereby reducing financing costs and significantly improving its balance sheet position.

SacOil is pleased to announce the formal appointment of Mr Roger Rees as interim chief executive officer and Mrs Tariro Mudzimuirema as interim financial director of the Company with immediate effect.

Mr Roger Rees is a Chartered Accountant with extensive public company experience. He previously served as a director and deputy Chairman of Clough Limited, an ASX listed oil and gas engineering company.

Mrs Tariro Mudzimuirema is a Chartered Accountant with more than 11 years’ experience in finance, risk management, corporate governance and audit.

SacOil is pleased to announce the formal appointment of Mr Ignatius Sehoole as non-executive director and Mr Vusumzi Pikoli as independent non-executive director of the Company with immediate effect.

SacOil is pleased to announce the formal appointment of Mr Tito Titus Mboweni as its new independent non-executive Chairman, and Ambassador Mzuvukile Jeff Maqetuka and Mr Stephanus (Steve) Hilgard Muller as independent non-executive directors of the Company, with effect from 10 June 2013.

Shareholders are referred to the announcement released by the Company on the morning of 31 May 2013, which communicated the resignation of three directors of the Company. Subsequent to the release of the announcement, trading in the shares of the Company was suspended on both the JSE and AIM.

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”) Appointment of Directors Shareholders are referred to the announcements dated 22 April 2013 and 31 May 2013 in terms of which the Company announced changes to its board…

SacOil announces that, following the shareholder vote yesterday against Special Resolution Number 1, Messrs John Bentley and Bill Guest have resigned as non-executive directors and Mr Robin Vela has resigned as Executive Director and Chief Executive Officer of the Company with immediate effect.