Trading Statement

Barloworld Limited

(Incorporated in the Republic of South Africa)

(Registration number 1918/000095/06)

(Income Tax Registration number 9000/051/71/5)

(JSE Share code: BAW)

(JSE ISIN: ZAE000026639)

(Share code: BAWP)

(JSE ISIN: ZAE000026647)

(Namibian Stock Exchange share code: BWL)

("Barloworld" or "the Company")

TRADING STATEMENT

Trading summary for 6 months ended 31 March 2015:

The group produced a solid result in the six months to 31 March 2015. 

Equipment southern Africa delivered a resilient performance for the first half despite the ongoing slowdown in the mining sector, with growth in aftermarket revenues contributing positively to the results.

Equipment Iberia produced a positive result due to actions taken to lower the cost base, while trading in Equipment Russia came under pressure due to ongoing mining project deferments and slower economic growth resulting from the reduction in oil prices.

The Automotive and Logistics division has traded well with all business units performing ahead of the prior year.

Income from associates was well up on the prior period and a slightly lower effective tax rate also contributed to higher after tax earnings.

Headline earnings per share (HEPS) from continuing operations are expected to be 10% to 20% (31 cents to 62 cents) higher than the comparable 316 cents cents in the prior period. Total HEPS, including both continuing and discontinued operations, are expected to be 6% to 12% (20 cents to 40 cents) higher than the comparable 336 cents last year.

Basic EPS from continuing operations are expected to be 15% to 25% (44 cents to 73 cents) higher than last year's comparable restated Basic EPS of 293 cents. Basic earnings per share (EPS) are expected to be 25% to 35% (124 cents to 173 cents) lower than the 494 cents in the prior period which included the exceptional profit of R370 million on disposal of the Australian motor retail operations.

Funding:

Net debt increased in the first half as a result of the seasonal increase in working capital but is expected to reduce significantly in the second half of the year. In March, the company issued a bond of R710 million maturing in 2022 at a fixed rate of 9.29% using the existing Domestic Medium Term Note Programme in the South African debt capital market. This is in line with the strategy of improving the maturity profile of our debt.

Barloworld Limited expects to announce its results for the six months to 31 March 2015 on 18 May 2015.

This financial information on which the trading statement has been based has not been reviewed or reported on by Barloworld's auditors.

Sandton Sponsor:

07 May 2015 J.P. Morgan Equities South Africa (Pty) Ltd.

About Barloworld

Barloworld is a distributor of leading international brands providing integrated rental, fleet management, product support and logistics solutions. The core divisions of the group comprise Equipment and Handling (earthmoving, power systems, materials handling and agriculture), Automotive and Logistics (car rental, motor retail, fleet services, used vehicles and disposal solutions, logistics management and supply chain optimisation). We offer flexible, value adding, integrated business solutions to our customers backed by leading global brands. The brands we represent on behalf of our principals include Caterpillar, Hyster, Avis, Audi, BMW, Budget, Ford, General Motors, Jaguar Land Rover, Mazda, Mercedes-Benz, Toyota, Volkswagen, Massey Ferguson and others.

Barloworld has a proven track record of long-term relationships with global principals and customers. We have an ability to develop and grow businesses in multiple geographies including challenging territories with high growth prospects. One of our core competencies is an ability to leverage systems and best practices across our chosen business segments. As an organisation we are committed to sustainable development and playing a leading role in empowerment and transformation. The company was founded in 1902 and currently has operations in 24 countries around the world with 75% of 19 315 employees in South Africa.

Corporate information

Registered office and business address

Barloworld Limited, 180 Katherine Street

PO Box 782248, Sandton, 2146, South Africa

Tel +27 11 445 1000

Email invest@barloworld.com

Directors

Non-executive: DB Ntsebeza (Chairman), NP Dongwana, FNO Edozien^, AGK Hamilton*, A Landia~, SS Mkhabela, B Ngonyama, SS Ntsaluba, SB Pfeiffer•, OI Shongwe

Executive: CB Thomson (Chief Executive), PJ Blackbeard, PJ Bulterman, DM Sewela, DG Wilson

*British ~German •American ^Nigerian

Group company secretary: Lerato Manaka

Enquiries: Barloworld Limited: Lethiwe Motloung

Tel +27 11 445 1000

E-mail: invest@barloworld.com

Instinctif: Morne Reinders, Tel +27 11 447 3030

E-mail morne.reinders@instinctif.com