CONSOLIDATED INFRASTRUCTURE GROUP LIMITED - Tradin23 Nov 2018
CIL 201811230003A
Trading statement and update on the recapitalisation transactions

CONSOLIDATED INFRASTRUCTURE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2007/004935/06)
JSE share code: CIL ISIN: ZAE000153888
("Consolidated Infrastructure" or "CIG" or "Group")

TRADING STATEMENT AND UPDATE ON THE RECAPITALISTATION TRANSACTIONS

Trading statement

In terms of the JSE Listings Requirements, companies are required to publish a trading statement as soon as they are
satisified that a reasonable degree of certainty exists that the financial results for the reporting period will differ by at least
20% from the financial results for the previous corresponding period.

Accordingly shareholders are advised that CIG's earnings/loss per share ("EPS") for the financial year ended 31 August
2018 is expected to be a loss of between 1020 cents per share and 1050 cents per share, compared to the loss of 77.47
cents per share for the financial year ended 31 August 2017. The headline earnings/loss per share ("HEPS") for the
financial year ended 31 August 2018 is expected to be a loss of between 720 cents per share and 750 cents per share,
compared to the headline loss of 77.94 cents per share for the financial year ended 31 August 2017.

The full year results include the ongoing restructuring initiatives highlighted in the interim results for the six months
ended 28 February 2018 ("Interim Results"), including the write-down of R609 million of goodwill and the carrying
value of investments in joint arrangements, which together with the reversal of approximately R400 million of deferred
tax assets previously recognised at the interim period, had a material impact on the results of CIG. Overall, cash generated
from operations was positive, reflecting an improved contribution from the Group's non-EPC (Engineering, Procurement
and Construction) businesses. As indicated in the Interim Results, while restructuring initiatives at Consolidated Power
Projects Group Limited are delivering improvements, the costs associated with the process remain high and continue to
impact negatively on profitability.

The information on which the trading statement has been based has not been reviewed or reported on by CIG’s auditors.
The reviewed results for the year ended 31 August 2018 will be released on or before 30 November 2018.

Update on the Recapitalisation Transactions

CIG shareholders are referred to the various announcements released on SENS on Friday, 18 May 2018, Monday, 30 July
2018 and Wednesday, 29 August 2018, regarding the R1.1 billion recapitalisation of CIG ("the proposed transaction").

The R300 million Upfront Loan was advanced by Fairfax Africa Holdings Corporation ("Fairfax") before the end of the
financial year and was applied to boost the Group's cash resources.

In respect of the R800 million Rights Offer, which is fully underwritten by Fairfax, all conditions to give effect thereto
have been met, barring the approval from the Tanzanian competition authorities, which approval is expected to be
received in the near future. This may result in the Rights Offer period running during the second half of December 2018,
which may be an inconvenient time for certain CIG shareholders. CIG wishes to inform CIG shareholders of this
possibility and to confirm that notwithstanding the inconvenience, CIG is committed to concluding the Rights Offer as
soon as possible.

22 November 2018

Unless otherwise defined, all capitalised terms have the same meaning as defined in the circular detailing the proposed transaction.

Sponsor

Java Capital
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