2014 Annual Results – Trading statement

Pallinghurst is reasonably certain that earnings and headline earnings per share will be USc 7.00 for the year ended 31 December 2014 an increase of 250% compared to earnings and headline earnings per share of USc 2.00 for the year ended 31 December 2013.

The significant increase in earnings and headline earnings year on year is primarily attributable to increases in the valuation of Pallinghurst’s investments in Gemfields plc and Jupiter Mines Limited, which are held at fair value.

The financial information on which this trading statement is based has not been reviewed or reported on by Pallinghurst’s auditors. Pallinghurst’s financial results for the year ended 31 December 2014 are expected to be released on SENS during the week commencing 23 March 2015.