Statement of the board of directors on the integrated annual report

The audit committee has reviewed the integrated annual report and the board has reviewed and approved it. The annual financial statements were prepared in accordance with International Financial Reporting Standards (IFRS) and the South African Companies Act No 71 of 2008, as amended, while the integrated annual report was prepared using the guidelines of the Global Reporting Initiative (GRI G4) and recommendations of the King Report on Corporate Governance in South Africa (King III). In our view, the integrated annual report and financial statements fairly reflect the true financial position of the group and its operations as at 31 March 2015, as described in the integrated annual report.

On behalf of the board

Rachel Jafta

Cape Town
19 June 2015