AUDITED PROVISIONAL RESULTS PRESENTATION FOR THE YEAR

ENDING 31 MARCH 2011

IntroductionOverview

Segmental analysis

Capital expenditure

Operational update

• Mining services

• Coal mining investments

Financial statements

Strategic review

OverviewYear ending 31 March 2011

Megacube’s return to operational profitability

Persistently strong Rand / US $ exchange rate

Strengthening coal demand and pricing

Suspension of the opencast operations at Nkomati Anthracite

Political unrest in the Ivory Coast

Expenses associated with the restructuring of the Group’s debt

Impairment charge, predominantly associated with CAT 785 fleet

OverviewSustainability

One fatal incident recorded – Mr. Glence Mohlala

CIFR improved 18,2% to 1,21 per million man hours worked [2010: 1,48]

Audited level 5 BBBEE rating – DTI codes

Established baseline “carbon footprint”

OverviewFinancial

Revenue increased by 10% to R2,402m [2010: R2,178m]

Operating profit increased by 43% to R 185 m [2010: R129 m]

Headline EPS increased to 16,06 cents [2010: 0,6 cents]

Cash generated by operations increased to R415m [2010: R380m]

Net asset value per share: 505 cents [2010: 502 cents]

Tangible net asset value per share: 430 cents [2010: 428 cents]

Net debt to equity gearing ratio improved to 21% [2010: 43%]

Net finance charge decreased by 50% to R 111m [2010: 221m]

OverviewEBITDA – 5 year history

545

428

803

670

353

-

100

200

300

400

500

600

700

800

900

2011 2010 2009 2008 2007

Rand millions

Segmental AnalysisRevenue and Operating Profit

External revenue Operating ProfitR'000 R'000

Opencast mining & earthmoving 1,763,886 181,207 - Megacube (pre impairment) 685,640 40,459 - Benicon (pre impairment) 680,960 87,462 - CCT 134,889 10,541 - JEF 262,397 42,745

Exploration drilling 678,269 71,600

Crane hire 53,352 28,970

Coal mining 107,298 11,439

Corporate Services 69,867 (36,837)

Intercompany eliminations (270,297) -

Impairment - (71,476)

Total 2,402,375 184,903

Net Capital ExpenditureAdditions and disposalsR262 million net capex invested during the year under review

MegacubeNet capex of R 29.3m, for the refurbishment of equipment.BeniconBenicon spent net capex to the value of R81.7m, predominantly for the refurbishment of equipment, and to meet the requirements of the Anglo Coal “FRCP” installation programme.CCTInvestment in equipment refurbishment, and the replacement of 4 ADT’s, amounting to net expenditure of R25m.JEF Drill and BlastThe group invested R3.3m in refurbishment of drilling rigs and the acquisition support equipment.GeosearchR77.6m invested during the year to establish operations in the Ivory Coast and the ongoing upgrade andconversion drilling capacity.Ritchie Crane HireInvestment in replacement cranes of R4.9m.Coal miningR48m, predominantly at Nkomati, for the development of the Madadeni opencast, and underground expansion.Corporate ServicesR21.1m, primarily for the purchase of the Jetpark and Middelburg properties for Geosearch and Megacube.

Operational updateMining services

Operational updateOpencast mining services

Megacube:

- Turnaround strategy has delivered early results- Cost base restructuring complete- Profitability from new contract pricing

Benicon:

- Satisfactory overall performance- Capacity is being utilised- Margin pressures, but 2011 price adjustments providing a degree of relief

CCT:

- Performance in line with expectation, andthe growth in ferrochrome demand

JEF Drill & Blast;

- Solid performance on the back of internally generated growth, accounting for approximately50% of the earnings

Operational updateMegacube turnaroundContracts

Repriced and in line with the current market.Reduced client concentration.More focus on mini pit mining operations.

Equipment

Renewed focus on maintenance has improved equipment availability and utilisation.Targeted asset/turnover ratio [1:1] determines equipment deployment levels per contract.

People

Implementation of 24/7 operations which will further increase asset utilisation.

Operational updateMegacube turnaroundOptimum Coal- Pullen’s Hope - overburden- Kwagga - rehabilitation- Eikeboom - minipit

Exxaro- Glisa - minipit

Nkomati Anthracite*

- Mangweni – coal hauling- Madadeni - minipit

Keaton Energy- Vanggatfontein - minipit

SACMH- Umhlabu – minipit

Mapochs Mine- Mukundi Mining – Coal loading & Hauling

* On care and maintenance

Operational updateExploration drillingDemand for exploration drilling including for PGM’s in SA, has continued to show signs of strengthening.

Exploration activity remains buoyant in the Coal, Gold and Base Metal sectors.

Established bases from which to operate, in northern Mozambique, Botswana, Central Africa, and a growing presence in West Africa.

Improved balance in revenues – Domestic SA, vsrest of Africa.

Operational updateExploration drilling

Political unrest in the Ivory Coast impacted on the year’s performance, but the resumption of drilling operations is scheduled from July.

Opportunity to monetarise the investment in offshore logistics and infrastructure going forward.

Given the current levels of exploration demand –solid, but not overheated – normalised earnings at current levels appear sustainable in the medium term.

Pricing is recovering in line with demand, especially in jurisdictions where political risk is a factor.

Exploration funding remains tight in the wake of the global economic crisis.

Operational updateMobile crane hire

Solid contribution for the year under review.

Remains a leading medium and heavy duty mobile crane hire company in the Mpumalanga region, supported by dedicated rigging expertise.

Demand in the coal mining, construction and infrastructure development sectors (large capital projects: Eskom and mining projects), continues to be strong.

Increased competition, as infrastructure expenditure slowed post 2010.

Outlook is for sustained good earnings for the current year.

Operational updateCoal mining investments

Operational updateNkomati Anthracite [60% stake]

• Performance adversely impacted by the suspension of the Madadeni opencast operation in March 2011.

• Pending the resolution of the regulatory and environmental issues indentified, to recommence the opencast operations, the Mangweni underground operations have been placed on care and maintenance.

• The management of Nkomati, with Sentula’ssupport are working with the relevant authorities to address the outstanding issues, with the intention of bringing the operation back into production during the second half of this financial year.

Operational updateNear development properties and exploration areas

Sentula exploration [South Africa] 100%

• Licensing process for mining rights submitted for the Schoongezicht and Bankfontein properties continues to be advanced.

• Sales – Thermal export, domestic and Eskom products.

Indongo [Zambia] 25%

• Small scale mining license, for the first opencast area of the Mulungwa project, has been awarded.

• EIA process completed.• Robust demand for regional coal supplies.

Exploration areas

• Mabapa [South Africa] 75% stake.• ASENJO [Botswana] 25% stake.• Carbonifera de Changara [Mozambique] 70% stake.

Financial Statements

Consolidated statement of financial position - Assets

R'000

Audited year ended 31 March

2011

Audited year ended 31 March

2010

Property, plant and equipment 2,595,426 2,641,957Mineral rights 410,761 412,183Intangible assets 23,347 17,621Goodwill 408,338 411,148 Restricted Investment 8,693 4,322 Deferred tax assets 17,008 21,625 Total non-current assets 3,463,573 3,508,856

Inventories 361,827 328,267Trade and other receivables 446,446 1,118,174Assets classified as held for sale 37,779 15,559Cash and cash equivalents 88,380 80,435Tax receivable 14,016 - Total current assets 948,448 1,542,435

TOTAL ASSETS 4,412,021 5,051,291

Financial Statements

Impairment Review: - IAS 36

• Annual impairment testing required for all goodwill and intangible assets• All other assets are subject to a review for impairment indicators

– If impairment indicators are identified, then impairment test is required– Impairment loss recognised if carry value exceeds greater of fair value less cost to sell

and value in use– Value in use equals present value of future cash flows based on business case

• CAT 785 fleet: – Idle equipment, without immediate application– Low availability and sub cost of capital returns– Refurbish and redeploy at improved efficiencies

• Mining assets – carried at cost (annual CPR update)

Consolidated statement of financial position - Equity and Liabilities

R'000

Audited year ended 31

March 2011

Audited year ended 31

March 2010

EquityShare capital and premium 1,994,406 1,994,823Reserves 863,128 840,435

2,857,534 2,835,258Non-controlling interest 75,301 79,356TOTAL EQUITY 2,932,835 2,914,614

LiabilitiesLoans and borrowings 560,000 544,860Rehabilitation provision 65,004 56,292Deferred tax liaibilities 243,631 226,672Total non-current liabilities 868,635 827,824

Trade and other payables 435,490 410,569Loans and borrowings 144,415 623,324Bank overdraft 148 184,008Taxation 30,498 90,952Total current liabilities 610,551 1,308,853TOTAL LIABILITIES 1,479,186 2,136,677TOTAL EQUITY AND LIABILITIES 4,412,021 5,051,291

Total equity attributable to equity holders of the company

Consolidated income statement

R'000

Audited year ended 31

March 2011

Audited year ended 31

March 2010

Revenue 2,402,375 2,178,601

Results from operating activities 184,903 128,986Net finance charges (111,051) (221,330) Fair value adjustment - 6,920 Profit on disposal of equity-accounted associate - 329,300 Income from investment in associate (net of tax) - 31,331 Profit before income tax 73,852 275,207 Income tax expense (42,780) (44,164) Profit for the period 31,072 231,043

Attributable to: - Owners of the company 35,127 239,138 - Non-controlling interest (4,055) (8,095) Profit for the period 31,072 231,043

Basic earnings per share 6.0 cents 55.8 centsHeadline earnings per share 16.1 cents .6 cents

581,005 428,185

581,005 581,005

Shares in issue at the end of the period ('000) (2010 - weighted for rights issue)Shares in issue at the end of the period excluding treasury shares('000)

Consolidated statement of cashflows

R'000

Audited year ended 31

March 2011

Audited year ended 31

March 2010

Profit for the year 31,072 231,043 Non-cash flow items 518,637 135,889 Depreciation 269,432 292,941 Recovery of unaccounted funds - (18,934) Amortisation of intangible assets 460 1,902 Amortisation of mineral rights 1,422 6,227 Impairment of property, plant and equipment 71,476 7,315 Impairment of trade receivables 4,964 - Scrapping of assets 2,369 2,257 Reversal of scrapping of assets (4,174) - Net unrealised foreign exchange movement 14,404 14,109 Fair value adjustment - (6,920) Insurance recovery - (25,179) Finance income (3,211) (3,822) Finance expense - Paid / Accrued 109,275 218,900 Finance expense - Unwinding 4,987 6,252 Equity settled share-based payment expense 5,117 9,218 Cash settled share-based payment expense 5,025 - Long term incentive plan 6,679 - Income from investment in equity-accounted associate (net of tax) - (31,331) Profit on disposal of equity accounted associate - (329,300) Change in rehabilitation provision (9,512) (15,166) Net loss on disposal of property, plant and equipment 9,363 11,658 Net movement in foreign currency translation reserve (12,219) (48,402) Income tax expense 42,780 44,164

549,709 366,932 Cash flows from operating activit ies before changes in working capital

Consolidated statement of cashflows

R'000

Audited year ended 31

March 2011

Audited year ended 31

March 2010

549,709 366,932

Net changes in working capital (134,398) 13,154

Cash generated by operations 415,311 380,086 Interest paid (80,360) (218,900) Taxation paid (95,674) (52,121) Cash flows from operating activities 239,277 109,065

Cash flows from investing activities 399,110 (139,523) Purchase of property, plant and equipment (318,618) (261,064) Proceeds from disposal of property, plant and equipment 55,962 102,822 Capitalised exploration expenditure (7,074) (8,959) Proceeds from sale of investment in equity-accounted associate 670,000 Cash received from investment in equity-accounted associate - 23,856 Increase in restricted investment (4,371) - Interest received 3,211 3,822

Cash flows from financing activities (449,337) (110,563) Proceeds from rights issue - 501,920 Proceeds from sale of rights in treasury shares - 6,734 Payment of transaction costs related to rights issue - (39,769) Purchase of own shares (417) - Repayment in borrowings (1,148,920) (579,448) Increase in borrowings 700,000 -

Net increase \ (decrease) in cash and cash equivalents 189,050 (141,021) Cash and cash equivalents at beginning of the period (103,573) 37,448 Exchange gains on cash and cash equivalents 2,755 - Cash and cash equivalents at end of the period 88,232 (103,573)

Cash flows from operating activities before changes in working capital

Strategic ReviewSentula, with its strengthened balance sheet and improved liquidity, remains positioned to take advantage of contract mining services opportunities across Southern Africa.

Through Geosearch, Sentula has access to one of the larger exploration drilling companies in Africa.

Sentula has the expertise to identify, develop and manage its own coal resources.

Sustainable growth will be further enhanced by the transaction with Shanduka Resources, as the BBBEE component preserves the Group’s current opportunities, and provides leverage through the provision of services in the development of its own coal assets.

Global demand for resources continues to recover, and Africa remains a source of new supply, driving the demand for exploration drilling expertise across the Continent. The growing Geosearch footprint continues to provide insights and opportunities for the whole Group.

Through the Shanduka Resources transaction, Sentula will be in a unique position, enabling it to reach critical mass as a mid tier producer with meaningful stakes in a balanced portfolio of coal assets, and to unlock the value associated there with.

DisclaimerThis presentation contains forward-looking statements relating to the business, financial performance and results of the Company and/orthe industry in which the Company operates. These statements are generally identified by words such as “believes,” “expects,” “predicts,”“plans,” “estimates,” “aims,” “foresees,” “anticipates,” “targets,” and similar expressions. The forward-looking statements, including but notlimited to assumptions and views of the Company or information from third party sources, contained in the presentation are based on currentplans, estimates, assumptions and projections and involve uncertainties and risks. Various factors could cause actual future results,performance or events to differ materially from those described in these statements. Neither the Company or its advisors represent norguaranty that the assumptions underlying such forward-looking statements are free from errors nor do they accept any responsibility for thefuture accuracy of the opinions expressed in this presentation. No obligation is assumed to update any forward-looking statements.

No representation or warranty, expressed or implied, is made and no reliance should be placed on the accuracy, actuality, fairness, orcompleteness of the information presented. None of the Company, its advisors, or any of their respective affiliates, directors, officers,employees and advisors nor any other person shall have any liability whatsoever for any losses arising, directly or indirectly, from anyinformation contained in the presentation. This presentation does not constitute an offer or invitation to purchase or subscribe for any sharesof the Company, and no part of this presentation shall form the basis of or be relied upon in connection with any contract or commitment. Anydecision to purchase shares of the Company should be made solely on the basis of information, which has been publicly filed with theJohannesburg Securities Exchange.

By viewing this presentation you acknowledge that you will be solely responsible for your own assessment of the market position of theCompany and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performanceof the Company’s business.

This presentation speaks as of Wednesday 15 June 2011. Neither the delivery of this presentation nor any further discussions of theCompany with any of the recipients shall, under any circumstances, create any implication that there has been no change in the affairs of theCompany since such date.