Slide 1: Investor Analyst Presentation
INVESTOR ANALYST PRESENTATION An international technology-based trade solutions specialist, delivering innovative end-to-end supply chain solutions. Annual Results for the year ended 28 February 2026 Presented by: Glen Gerber (CEO) and James Robertson (GFD) W W W . S A N T O V A . C O M
Slide 2: Introduction
Introduction • The performance for the Group needs to be considered in the context of the global economy, and particularly the performance of the industry. Benchmarking performance against industry standards highlights our true position in the market. • Following the initial pandemic shock in early
Slide 3: Introduction continued …
Introduction continued … • In 2025, the global situation did not improve. - The imposition of a series of new tariffs by the USA, geopolitical volatility, and the low shipping rates (primarily driven by overcapacity and weakened demand) had a profound impact on our earnings across the board. - Whils
Slide 4: Introduction continued …
Introduction continued … • Seabourne in the United Kingdom (“UK”) have now transitioned to Santova’s technologies, giving them full access to one of our ‘key differentiators’ – TradeNav®. • Seabourne is now also accessing our Hong Kong (“HK”), Singapore (“SG”), and European (“EU”) control towers (ce
Slide 5: Growth through investment
Growth through investment "Bulking up" or expanding to gain or create efficiency and reduce costs. Capitalising on economies of scales and risk diversification. A programme of continued investment in the face of market challenges. 4
Slide 6: Global Presence
Global Presence The Santova Group is strategically located across 32 offices in 13 countries across 5 continents 2027 W W W . S A N T O V A . C O M 5
Slide 7: Regional Reviews
WWW.SANTOVA.COM Regional Reviews 6
Slide 8: Regional performance
Regional performance Indicates overall efficiency and demonstrates how well we have managed costs. New business model (Express Courier/ Logistics profit margins are notoriously tight. The industry operates on a high-volume, low-margin model where Fulfilment centres) average net profit margins hover
Slide 9: Africa
Africa • South Africa's (“SA”) economy experienced a modest recovery, with GDP growing by 1,1%. However, growth remained below government targets. Whilst SA experienced reduced inflation, improved credit ratings and increased investor confidence, retail growth remained structurally constrained. Hous
Slide 10: North America
North America • Despite the excessive cost of the warehouse lease which was included in the purchase of A-Link Freight and is now largely unutilised, the newly appointed Regional Head and team are making timely progress in restoring profitability through the take-on of new clients. • This business h
Slide 11: United Kingdom
United Kingdom • Our operations performed well in the context of modest growth in 2025, with real GDP estimated to have increased by 1,4% annually - slightly up from 1,1% in 2024. Although starting off strong, UK growth slowed in the latter half of the year with Q4 growth of only 0,1%. UK retail sal
Slide 12: Europe
Europe • The European economy in 2025 showed resilience with moderate growth, navigating global challenges with an estimated 1,5% GDP increase in the EU, up from 1,1% in 2024. Growth was driven by a recovery in household consumption and a tight labour market, while high energy costs and global uncer
Slide 13: Asia Pacific
Asia Pacific • Collectively, countries in Southeast Asia have been subject to the entire spectrum of tariff rate increases during the period. This ranged from the baseline rate of 10% for Singapore (“SG”), to some of the highest rates worldwide with up to 49% (Cambodia). • Whilst our Australian (“AU
Slide 14: Business model, a continuously evolving process
Business model, a continuously evolving process • It is imperative to recognise the intrinsic value embedded in our business model and our proposition to the market. Albeit gradual, the Group is continuously evolving into its full capability, which is a prolonged and perpetual process of self- impro
Slide 15: Sustaining growth through Integrated Solutions
Sustaining growth through Integrated Solutions Supply Chain Logistics Express Courier Insurance Procurement Outsourced Fulfilment Fiscal Services Management Solutions Centres Representation End-to-end Navigate and Automated Bespoke short- Client Sourcing Value-driven, Fulfilment Fiscal Supply Chain
Slide 16: Making the business model tangible
Making the business model tangible • Examples of some of the solutions deployed include the following: - Robotic process automation to optimise accounts payable and document-to-system interfaces. - Multi-party order and shipment tracking integrations to reduce manual operations, risk and data integr
Slide 17: Overview of Santova
Overview of Santova Santova Differentiation & Targeted Value Delivery Optimised Execution • Freight optimisation including visibility • Sea and air consolidations • Customs compliance • Process automation Our People IP Innovation & Technology Performance and Cost Visibility • Landed cost focus Data-
Slide 18: Global trade analysis
Global trade analysis Note: The above figures excludes Seabourne data. 17
Slide 19: Client and transaction analysis
Client and transaction analysis March 2025 – February 2026 Number of Transactions Region 2025 2026 Change % Change Africa 26 199 25 461 - 738 - 2.8% Asia Pacific 14 038 14 855 817 5.8% Europe 11 215 13 269 2 054 18.3% North America 3 027 2 648 - 379 -12.5% United Kingdom 21 412 23 660 2 248 10.5% To
Slide 20: New client revenue by region
New client revenue by region March 2025 – February 2026 New clients provide a hedge in economic slowdowns and serve as a significant ‘booster’ in economic upturns. Note: The above figures excludes Seabourne data. 19
Slide 21: Global client distribution – Top 20
Global client distribution – Top 20 March 2025 – February 2026 Note: The above figures excludes Seabourne data. 20
Slide 22: Evolving client needs
Evolving client needs • Larger clients increasingly expect supply chain specialists to deliver the following across the entire end-to-end supply chain: - cost reduction. - increased efficiency. - enhanced resilience. • They look beyond day-to-day operational management, for a strategic partner who c
Slide 23: Outlook
Outlook • Uncertainty will prevail - we expect a flat to modest rate of growth globally going forward. • After global growth withstood tariff pressures in 2025, the near-term outlook appears more positive. However, what is becoming increasingly apparent is that those businesses embracing and deployi
Slide 24: Conclusion
Conclusion • The difficult trading environment facilitates greater creativity, effective execution, greater efficiencies and more customer- focused initiatives. Together, these build resilience and an even stronger foundation for long-term success when conditions improve. • With Santova firmly at th
Slide 25: Financial Results
Financial Results For the year ended 28 February 2026 W W W . S A N T O V A . C O M
Slide 26: 2026 in perspective
2026 in perspective KEY HIGHLIGHTS • Revenue and net interest income increased 88.3% to R1.2b • Operating profit increased 3.8% to R200.2m • Offshore revenue increased to 84.6% • Billings margin increased by 0.3% to 10.9% • HEPS decreased 6.2% to 108.10 cps • Tangible NAV decreased 29.4% to R4.98 pe
Slide 27: 2026 Statement of profit or loss: Analysis
2026 Statement of profit or loss: Analysis 2026 2025 Move R'000 R'000 % Seabourne revenue recognised as principal. Comparable revenue (excluding Seabourne) declined 1,8% largely due to: REVENUE AND NET INTEREST INCOME 1 187 022 630 428 88.3% - lower volumes in SA, AP and the US; - lower freight rate
Slide 28: 2026 Operating context: Forex
2026 Operating context: Forex 2026 2025 Movement Weighted R'000 R'000 % average Mvmt AVERAGE EXCHANGE RATES Primary Operating Currencies Euro EUR 20.13 19.62 2.6% 0.5% Pound Sterling GBP 23.35 23.27 0.4% 0.3% US Dollar USD 17.48 18.27 (4.3)% 0.4% Australian Dollar AUD 11.44 11.95 (4.3)% (0.2)% Avera
Slide 29: 2026 Statement of financial position: Analysis
2026 Statement of financial position: Analysis 2026 2025 Move R'000 R'000 % Cash and cash equivalents 415 832 486 186 (14)% Post Seabourne acquisition, cash position remains healthy with 93.4% of cash held offshore. Current tax assets 7 843 741 958% Deferred tax assets 7 522 7 105 6% Financial asset
Slide 30: 2026 Financial ratios
2026 Financial ratios 2026 2025 Move R'000 R'000 % - Lower freight rates and increased margin. - Billings/revenue margin 10.9% 10.6% 0.3% - Lower proportion of SA billings/revenue. - Operating margin 16.9% 30.6% (13.7)% Inclusion of Seabourne's lower margin offerings of warehousing and express couri
Slide 31: 2026 Trade receivables: Credit quality analysis
2026 Trade receivables: Credit quality analysis 2026 2025 Movement R'000 R'000 % Trade receivables 679 898 655 081 3.8% - South Africa 343 108 391 348 (12.3)% Lower volumes in Jan/Feb. - Offshore 336 790 263 733 27.7% Seabourne acquisition. Key ratios Debtor days 36.5 40.0 (3.5) Impairment provision
Slide 32: 2026 Santova vs Seabourne profit split
2026 Santova vs Seabourne profit split FY2026 Transaction Santova Seabourne Consolidated costs R'000 R'000 R'000 R'000 REVENUE AND NET INTEREST INCOME 619 278 567 744 - 1 187 022 Other income (2 752) (1 838) 8 644 4 054 Depreciation, amortisation and impairment loss on non- (30 957) (43 061) (7 233)
Slide 33: Thank you
Thank you We thank our clients, suppliers, business associates, and shareholders who have shared the journey. We wish to express our gratitude to our colleagues for their unwavering support and faith in our endeavours. This has not been a period without complexity or challenges, however, the ethos o