Investor Centre

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.

Shareholders are advised that, at the General Meeting held today, all the ordinary and special resolutions tabled were approved by the requisite majority of votes required from Shareholders present in person or represented by proxy.

All of the special resolutions passed at the General Meeting will be filed with, and registered where required, by the Companies and Intellectual Property Commission.

Shareholders are referred to the Circular issued on 8 May 2013 and the announcement made on the same date. Capitalised terms in this announcement shall have the same meaning given to them in the Circular unless the context requires otherwise. This further announcement to Shareholders is in response to a number of comments and questions which have been received by the Board in relation to the matters contained in the Circular.

As part of the JSE Limited Listings Requirements, companies are required to publish a financial trading statement as soon as they are reasonably certain that the financial results for the current reporting period will be more than 20% different to that of the prior corresponding period. Given the nature of SacOil’s business, which requires lump sum upfront capital investment, it is not unusual for there to be significant changes in the financial results from one period to another.