Spar Group Limited · JSE:SPP

Spar — The SPAR Group — FY2011 Earnings Presentation

32 slides from Spar's earnings presentation, October 2011

1. Slide 1: SPAR Group Results 2011

   _ SPARK The SPAR Group Limited SPAR GROUP RESULTS 2011

2. Slide 2: SPAR International

   SPAR International • Retail turnover € 30bn • Stores 12 200 • Countries 34 2

3. Slide 3: Financial Overview

   Financial Overview R million 2010 2011 % Change Turnover 34 844 38 459 10.4 PBIT 1 303 1 404 7.8 PAT 916 953 4.0 HEPS 536.1 557.1 3.9 Dividend (cents) 362 377 4.1 3

4. Slide 4: Financial Overview: Comparative Trading

   Financial Overview Comparative Trading 1st Half 2nd Half % % Rm Change Change Turnover 19 115 9.1 19 344 11.6 PBIT 707 4.1 698 11.8 PAT 479 0.9 473 7.4 4

5. Slide 5: Financial Overview: Turnover

   Financial Overview Turnover (Rm) 2010 2011 % Change SPAR/TOPS 31 541 34 556 9.6 Build it 3 303 3 903 18.2 TOTAL 34 844 38 459 10.4 Liquor sales (TOPS & SPAR) 2 173 2 605 19.9 5

6. Slide 6: Financial Overview: Gross margins

   Financial Overview Gross margins Turnover Rm GP % Normal business 37 718 7.8 Retail division 640 15.1 Imports – Build it 101 19.9 Group 38 459 8.1 6

7. Slide 7: Financial Overview: Expenses

   Financial Overview Expenses Expenses Contr. % Rm Increase Normal business 1 903 9.6 Retail division 129 6.8 Imports – Build it 33 1.0 Group 2 065 17.4 7

8. Slide 8: Cash Flow

   Cash Flow Rm Cash flow from trading 1 577 Working capital changes 204 1 781 Capex (160) Acquisitions – Retail Stores (82) Tax (411) Dividends (625) Loans/shares (76) Net cash inflow 427 8

9. Slide 9: Retail Performance

   Retail Performance Retail Turnover 2010 2011 % Rbn Rbn Change SPAR 44.6 48.1 7.9 TOPS 3.5 4.2 20.3 Build it 5.4 6.4 18.0 53.5 58.7 9.7 9

10. Slide 10: Retail Stores

    Retail Stores 2010 2011 Change SUPERSPAR 256 275 +19 SPAR 458 446 (12) KWIKSPAR 132 138 +6 846 859 +13 Sqm 000’s 898 925 +3.0% 10

11. Slide 11: Retail Stores

    Retail Stores 2010 2011 Change SPAR 846 859 +13 TOPS 459 501 +42 Build it 260 269 +9 Savemor - 11 +11 Pharmacy 1 8 +7 TOTAL 1 566 1 648 +82 11

12. Slide 12: Pharmacy at SPAR

    Pharmacy at SPAR 12

13. Slide 13: Holdens KWIKSPAR

    Holdens KWIKSPAR 13

14. Slide 14: Holdens KWIKSPAR

    Holdens KWIKSPAR 14

15. Slide 15: Holdens KWIKSPAR

    Holdens KWIKSPAR 15

16. Slide 16: SaveMor Store

    SaveMor Store Kwa Mesisi | Save

17. Slide 17: Distribution Update

    DISTRIBUTION UPDATE SPARE

18. Slide 18: South Rand

    SOUTH RAND fs C3} 60 000m

19. Slide 19: North Rand

    NORTH RAND 33 600m² 19

20. Slide 20: KZN Dry

    KZN DRY [ : CM 39. 500m? :

21. Slide 21: KZN Perishables

    10 000m2 “”) Lu _ m L T “ or Lu Oo Z N 4

22. Slide 22: Western Cape

    WESTERN CAPE 33 500m² 22

23. Slide 23: Eastern Cape

    EASTERN CAPE ake SPARIQ) ~ 24 000m?

24. Slide 24: Lowveld

    LOWVELD [| SPARKY 18000m |

25. Slide 25: Lowveld Perishables

    LOWVELD PERISHABLES 3 000m² 25

26. Slide 26: Imports Warehouse

    IMPORTS WAREHOUSE 10 000m² 26

27. Slide 27: Looking forward…

    Looking forward… • Trading environment • Key issues 27

28. Slide 28: Trading Environment

    Trading Environment • Business confidence • Economy - consumer spending - rand/food inflation • Competition 28

29. Slide 29: Key issues: Retail

    Key issues Retail • Growth - existing stores - new sites 29

30. Slide 30: Key issues: Retail Stores

    Key issues Retail Stores Projected 2011 2012 SUPERSPAR 275 +12 SPAR 446 +11 KWIKSPAR 138 +2 859 +25 Sqm 925 +3% TOPS 501 +32 Build it 269 +21 Savemor 11 +12 Pharmacy 8 +10 30

31. Slide 31: Key issues: Retail

    Key issues Retail • Growth - existing stores - new sites - Africa • Marketing • Retail profitability • Retail division 31

32. Slide 32: Key issues: Wholesale

    Key issues Wholesale • Warehouse facilities • Streamline our supply chain • Imports • DC system modernisation 32

The SPAR Group — FY2011 Earnings Presentation on 6ix