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Trading Statement

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18 Nov 2016

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”)

TRADING STATEMENT

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.

Shareholders are advised that the Company expects earnings per share and headline earnings per share for the six months ended 31 August 2016 to be at least 20% lower relative to the prior comparative period.

A more detailed trading statement will be published in due course.

The information in this Trading Statement has not been reviewed or reported on by the Company`s auditors.

Shareholders are advised that the results for the six months ended 31 August 2016 will be released before the end of November 2016.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

JSE Sponsor

PSG Capital Proprietary Limited

18 November 2016

For further information please contact:

SacOil Holdings Limited

Damain Matroos

+27 (0)10 591 2260

finnCap Limited (Nominated Adviser and broker)

Christopher Raggett and James Thompson

+44 (0) 20 7220 0500

FirstEnergy Capital (Joint broker)

Hugh Sanderson / David van Erp

+44 (0) 20 7448 0200

Buchanan (Financial PR adviser) - UK

Ben Romney / Chris Judd / Madeleine Seacombe

+44 (0)20 7466 5000

ABOUT SACOIL

SacOil is a South African based independent African oil and gas company, dual-listed on the JSE and AIM.  The Company has a diverse portfolio of assets spanning production in Egypt; exploration and appraisal in the Democratic Republic of Congo, Malawi and Botswana; and midstream projects including crude trading in Nigeria and a terminal project in Equatorial Guinea.  Our focus as a Group is on delivering energy for the African continent by using Africa’s own resources to meet the significant growth in demand expected over the next decade.  The Company continues to evaluate industry opportunities throughout Africa as it seeks to establish itself as a leading, full-cycle pan-African oil and gas company.