Shareholders are advised that Kumba is currently finalising its results for the half year ended 30 June 2015 ("the period"), which will be released on SENS on 21 July 2015.

In accordance with section 3.4 (b) of the JSE Listings requirements and further to the trading statement released on 8 May 2015 in which the Company indicated that headline earnings per share ("HEPS") and basic earnings per share ("EPS") for the period would be more than 20% lower than the previous six months ended 30 June 2014 ("the comparative period"); shareholders are advised that headline earnings for the period are likely to be between R2,410 million and R2,585 million, with basic earnings expected to be between R2,400 million and R2,575 million. HEPS is likely to be between R7.50 and R8.05, a decrease of between 60% and 63%, with EPS expected to be between R7.47 and R8.02, a decrease of between 60% and 63%.

Reported headline earnings and basic earnings for the comparative period (released on SENS on 22 July 2014) were R6,505 million and R6,511 million respectively, while reported HEPS and EPS for the comparative period were R20.28 and R20.30 respectively.

The significant decrease in export iron ore prices is largely responsible for the decrease in earnings, and has also resulted in the derecognition of a deferred tax asset of R617 million, included in both HEPS and EPS, in the current period. Normalised earnings per share, excluding this item, are likely to be between R9.35 and R10.00, a decrease of between 51% and 54% on the normalised earnings per share of the comparative period of R20.28.

The financial results, on which this trading statement is based, have not been reviewed or reported on by the group's external auditors.