Change in substantial shareholding

26 November 2015

Steppe Cement Ltd

Purchase of Shares by Substantial Shareholder

Pursuant to AIM Rule 17, Steppe Cement Ltd ("Steppe Cement" or "the Company") has received notification that Halfmoon Bay Capital Limited acquired a total of 3,575,000 ordinary shares in the Company, raising the total interests controlled by substantial shareholder Azmi Wan Hamzah from 59,185,906 shares to 62,760,906 shares, representing 28.7% of the Company's issued share capital. Azmi Wan Hamzah's total interests are held via Halfmoon Bay Capital Limited, Mango Bay Enterprises Inc. and Alwaha Fund Limited.

Steppe Cement's AIM nominated adviser and broker is RFC Ambrian Limited.

Nominated Adviser: Contact Stephen Allen or Oliver Morse at +61 8 9480 2500.

Broker: Contact Charlie Cryer at +44 20 3440 6800