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Appendix 1

Appendix 1. Geographic and Segmental Revenue and Trading Profit. Geographic Revenue and Trading Profit splits. Appendix 1. H1 2009. H1 2008. SA. Revenue. Asia Pacific. UK & Europe. Trading Profit. Africa. Contribution: Foreign operations SA operations.

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Appendix 1

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  1. Appendix 1 Geographic and Segmental Revenue and Trading Profit

  2. Geographic Revenue and Trading Profit splits Appendix 1 H1 2009 H1 2008 SA Revenue Asia Pacific UK & Europe Trading Profit Africa • Contribution: • Foreign operations • SA operations

  3. Segmental contributions to results Appendix 1 Segment Bidfreight Bidserv International Foodservices Bidfood (SA) Bid Industrial & Commercial Bidpaper Plus BidAuto Corporate

  4. Appendix 2 Divisional Results

  5. Bidfreight – Abating activity Appendix 2 Bidfreight • Bidfreight Terminals • Bulk Connections, Island View Storage, Bidfreight Port Operations, Rennies Distribution Services, SACD Freight, SA Bulk Terminals, Naval • International Clearing and Forwarding • Safcor Panalpina • Marine Services • Manica Current contribution to Group Trading Profit 14.0%

  6. Bidfreight – Abating activity Appendix 2 Results • IVS returned a particularly strong result; together with a good contribution from Marine, Bulk, and Manica • Debtors being carefully monitored • Mixed progress with NPA lease negotiations • SafcorPanalpina: profits up 7%; Airfreight volumes fall 15%, Seafreight flat; customer base under pressure • Marine: profits up 12% driven by higher vehicle export and improved port volumes • RDS:profits reduced by 12%, volumes weak across all categories • SACD: profits up 3%, export volumes weaken • IVS:profits up 7%; increased capacity utilisation; replacement tanks coming on stream • Bulk Connections: profits up 15%; satisfactory trading but manganese exports reduced in Q2. Durban lease being negotiated Rm Trading Profit Trading Margin 3.4% 3.1%

  7. Bidfreight – Abating activity Appendix 2 • SABT: profits up 2%; maize and wheat exports down in Q2; wheat imports delayed as purchasers delay to take advantage of significantly lower freight rates; a positive H2 expected • BPO: profits down 27% as exports of steel, forest products, and ferrochrome and imports of cement and rice decline. • Naval: profits down 36% as key business areas come under pressure • Manica: four fold rise in profits; new business obtained regionally; mineral volumes out of DRC and Zambia fall; trade in the region remains variable and unpredictable Strategic imperatives & prospects • Trade volume reductions likely to get worse before getting better • Break bulk cargos have slumped, but recent improvement • Sharply reduced freight rates are positive for customers • Container vessels reducing size and frequency of calls • Ongoing selective capex on the back of major contracts • There is tentative evidence of protectionism in certain countries – this is negative for trade flows and accentuates downturn • Competitive position is without parallel

  8. Bidserv – Cleaning up Appendix 2 Bidserv • Full range of outsourced services including: • Cleaning • Laundry • Hygiene • Security • Interior and exterior landscaping • Aviation services • Industrial workwear • Travel • Banking and foreign exchange services • Office automation • Supply chain integration • E-procurement and online travel Current contribution to Group Trading Profit 18.7%

  9. Bidserv – Cleaning up Appendix 2 Results • Profitability at an all time high • Bank and Industrial achieve exceptional results • Prestige: profits up 7% despite double digit wage increases across the industry • TMS: profits up 17% but petroleum industry under pressure. Saudi business, which opened for business in December, audited and accredited as a preferred supplier • Laundries: profits up 4%; hospitality industry experiencing major declines in occupancy; motor industry redundancies will affect garment rental results in future; competitor stress • Steiner: result flat; management restructuring undertaken • Security: Provicom made a loss, significant projects put on hold by customers; both Magnum and Vericon did very well; • Global Payment Technologies: profits more than doubled and the outlook is promising; international distribution agreement with Talaris (previously known as De la Rue) provides diversification • Top Turf: profits down 15% but within budget as business consolidated and stabilised at a time when project activity is declining Rm Trading Profit Trading Margin 13.4% 13%

  10. Bidserv – Cleaning up Appendix 2 • Industrial: profits up 49%; facilities underpin competitive strengths; G Fox roll-out successful; consideration being given to expanding national footprint • Office – Konica Minolta & Oce: underlying profits flat; unit sales slow; weak rand vs. yen a challenge; price increases on government contracts implemented; office automation offering highly competitive • BidAir: profits +74%; new management team in place • BidTravel Solutions (including BidTravel, MyMarket, Procurement) : profits down 18% due to a decision to smooth overrides through the year; however, economic slowdown impacting travel and override income under threat; new automated travel engine well received and this, together with right-sizing measures underway, will cushion blow of severe economic pressures; procurement savings for the group • Bidvest Bank: profits double, assisted by new forex products, new branches, and a volatile exchange rate; an exceptional result expected in F2009 • Hotel Amenities: profits down as SA hotel occupancies decline but export sales into Africa via the SAA strategic amenities alliance will offset this in H2 • Strategic Imperatives and Prospects • Flexible to take corrective action if trading turns for the worse • Number of contracts secured for 2010 World Cup • Travel overrides under threat – cost rationalisationunderway • Relative stability in a number of areas with good divisional competitive advantages in a tough economy • BidAir continues to offer good upside • Bidvest Bank expected to be exceptional • Profits will be well up on 2009 – hard times notwithstanding

  11. Bidvest Europe – Gruelling Appendix 2 Bidvest Europe • 3663 (UK) • Deli XL Netherlands • Deli XL Belgium • Horeca (Middle East) Current contribution to Group Trading Profit 15.2%

  12. Bidvest Europe – Gruelling Appendix 2 Results • Total profits down 3% to R396,3m. Sterling average exchange rate €1.23 (€1.45). Deli XL combined is 40% of total profits • Food prices high in all markets but inflation rate now falling and there is a risk of price declines • Deli XL Netherlands: +16% (€9.3m profit vs. €8,1m); revenue €383.5m (+8%); ROS 2.4% (2.3%); cash generated by operations €17.9m; volumes diminished in Q2 but margin improvement is foreseen; focus on receivables; Dutch smoking ban in public places a negative • Deli XL Belgium: +79% profit (€1.95m) on €125.3m revenue (+8%); ROS 1.6% (0.9%); Increased business with Sodexo; sales focus on Flanders for Kruibeke site Rm Trading Profit Trading Margin 2.6% 2.0% 12

  13. Bidvest Europe – Gruelling Appendix 2 • Horeca: £0.2m profit; ROS 3.2% vs. 0.5%. Sales in local currency rise 52% due to mix, pricing strategy and currency effect; strict credit policy improves collections; depressed Middle Eastern economy presents challenges for future growth • 3663: sales 8% up at £863.7m; profits down 25% to £16,9m; ROS 1.9% vs. 2.9%, cost control very good ; working capital moves out due to pre-emptive buying and inflation but receivables are a problem and bad debts are rising; total cases sold down 5% with wholesale down 9%; suddenness and magnitude of the severe slump far greater than could be predicted • Wholesale sales flat, profits down 30%; focus on cash margin, passing through prices and growing new business • Logistics infrastructure being optimised and costs cut; • Barton Meat closed and costs expensed Strategic imperatives & prospects • Deli XL: conditions remain unpredictable; efficiencies remain under the spotlight • 3663 will benefit from industry consolidation; debtors under focus; further depot optimisation underway; profits will be well down on 2008; business model is robust and we have no intention of changing it 13

  14. Bidvest Asia Pacific – All shoulders at the wheel Appendix 2 Bidvest Asia Pacific • Bidvest Australia • Bidvest New Zealand • Angliss Singapore • Angliss Hong Kong and China Current contribution to Group Trading Profit 10.9%

  15. Bidvest Asia Pacific – All shoulders at the wheel Appendix 2 Results • Highly motivated staff, joined-up team effort as conditions deteriorate in all markets • Australia:sales up 16% to A$819.8m (real growth 6%), profits up 16% to A$31.1m; ROS 3.8% vs. 3.8%; expenses maintained on prior and inventory well controlled; market share gains in a flat market; debtor provisions increased • Foodservice sales up 12%, profits up 10% ; some customers transferred into QSR; cost pressures easing; branch results vary but overall excellent; growth opportunities will be tackled responsibly • Hospitality remains in development but although small in profits adds to offering; market share gained in an increasingly bleak trading environment • QSR profits up 5% in line with budget; service levels high Rm Trading Profit Trading Margin 3.8% 3.3%

  16. Bidvest Asia Pacific – All shoulders at the wheel Appendix 2 • New Zealand: sales up 15% to NZ$215.5m (real growth 7%), profits up 12% to NZ$9.9m; ROS 4.6% vs. 4.7%; growth from new products and market share gains; four consecutive quarters of GDP decline; adequately provisioned against defaults; • Fresh sales grow 12%, profits up 42%; cross selling with Foodservice working well • Foodservice sales up 15%, profits up 10%; new branch planned; • Logistics profits double; new Christchurch DC underway; capacity for growth • Angliss:Asia markets in sharp downturn • Singapore: Sales of S$166.46m (up 11%) but a small loss returned as trading in Q2 worsened; volumes static; high inventory coupled with falling meat and poultry prices • Hong Kong & China: Sales up 27% to HK$866m, profits down 13% to HK$21.3m, ROS of 2.5% vs. 3.6%; dumping of stock widespread in a tight credit market; Chinese demand for Western products slumps; medium term outlook still positive • Strategic imperatives & prospects • Asian economies in decline but trading expected to stabilise at lower levels in second half; pricing to be keener; longer term objectives unaffected • Australia: Maintaining staff morale key; ample scope to grow our market position and profits will be higher in F2009 • New Zealand: team motivated to pressurise the opposition, profits will be up in F2009 16

  17. Bidfood – growing the basket in hard times Appendix 2 Bidfood • Caterplus • Speciality • BidfoodIngredients Current contribution to Group Trading Profit 8.3%

  18. Bidfood – growing the basket in hard times Appendix 2 Results • Strategy to grow market share though expanded variety, higher average spend per customer and higher average value per drop is paying off as trading environment tightens • Caterplus:profits up 17%; expense control and cash flow pleasing; capacity constraints hindered growth but new facilities are being rolled out; strict credit policy paying off; asset management tight • Speciality: spending in the higher income category is under pressure; customers are price resistant and selective; own-brand Goldcrest grew sales 28% and now accounts for a quarter of sales; the range continues to be expanded and product promotion is vigorous; stock availability and visibility is key Rm Trading Profit Trading Margin 8.5% 8.2%

  19. Bidfood – growing the basket in hard times Appendix 2 • Ingredients: all business traded well, with the exception of NCP Yeast which was hampered by an inability to pass through high input prices quickly enough; stock position under scrutiny due to deflation risk; customers increasingly under liquidity pressure; technical base continues to strengthen - alliances with suppliers Strategic imperatives & prospects • As mentioned at the full year an outright reduction in prices is likely • Quality custom is being emphasised at the expense of volume as bad debt risks rise • Stock theft remains an issue and is being closely monitored as times get worse • Bidfood will take advantage of harder times to improve market position and protect profitability and liquidity

  20. Bid Industrial and Commercial Products – Cooling Appendix 2 Bid Industrial and Commercial Products • Electrical Wholesaling • Stationery and Furniture • Packaging Closures • Vulcan Catering Equipment Current contribution to Group Trading Profit 12.4%

  21. Bid Industrial and Commercial Products – Cooling Appendix 2 Results • Profits remain relatively good in prevailing economic conditions but there was a cooling off in the electrical businesses; Waltons and Kolok performed very well • Electrical Wholesaling: Voltex profits declined 5%; the copper price fell by over 40%, precipitating a fall in inventory levels; customers experience shrinking orders; infrastructure and energy markets prioritised; cost-cutting continues • Stationery & Furniture: stationery put in a strong performance but furniture was weak and management actions are in place to ensure rectification • Waltons profits up 16%; store openings and refurbishment continued; retail sector weak; “back-to-school” yielded positive results • Kolok profits more than doubled, assisted by a weaker currency; focus on eliminating low-margin business • Internal challenges and a few own goals hindered Furniture; however, product offering is competitive Rm Trading Profit Trading Margin 7.2% 6.5%

  22. Bid Industrial and Commercial Products – Cooling Appendix 2 • Packaging: • Afcom GE Hudson profits up 15%. Optimal balance between local and imported product assisted • Buffalo Executape profits up 29%, benefiting from tight expense control • Vulcan: profits up 18% in a competitive market as new products reinforce market position • Strategic imperatives & prospects • Electrical Wholesaling: • Declining building market but infrastructure investment buoyant • Escalating electricity price to assist energy saving solutions • Copper prices bottoming out • Stationery: relative resilience but not impervious to weak consumer spend • Furniture: improvement expected following a weak first half • Kolok: new business at higher margin aggressively pursued • Vulcan: good first half, building on competitive strengths in a tough market • Packaging closures: well positioned after a very good first half

  23. Bidpaper Plus – Silveray provides the light Appendix 2 Bidpaper Plus • Printing and related • Personalisation and Mail • Printing and Conversion • Sales and Distribution • Stationery Distribution • Alternative Products • Packaging and Label Products Current contribution to Group Trading Profit 5.0%

  24. Bidpaper Plus – Silveray provides the light Appendix 2 Results • Improved results from stationery distribution, labels and packaging (now including Rotolabel), and the consolidated label factories in Gauteng • Traditional print was weaker and the laser and mail business grew profits marginally • Stationery grew market share, with Croxley regaining prominence • Business linked to retail market suffered • Labeling & Packaging affected by downturn, particularly in luxury items, but other sectors are being pursued successfully • Laser and mail on track to deliver on growth Strategic imperatives & prospects • Innovation a focal point as are export opportunities • Diversity and mix of traditional and new technologies should support results Rm Trading Profit Trading Margin 12.4% 11.2%

  25. BidAuto – Hard driving Appendix 2 BidAuto • Motor retail • BMW/Mini, General Motors, Land Rover/Volvo, Mercedes-Benz, Chrysler/Jeep/Dodge/Mitsubishi, Nissan/Fiat/Alfa/Renault, Peugeot, Toyota/Lexus, Volkswagen/Audi/Seat, Suzuki, Chery, Foton • Burchmores • Import and Distribution • McCarthy Vehicle Imports, McCarthy Heavy Equipment, Yamaha Distributors • Financial Services • McCarthy Insurance Services, McCarthy Finance and McCarthy Fleet Solutions • Budget Car and Van Rental • Support Services and Corporate Services • McCarthy Call-a-Car, Club McCarthy, Eliance Current contribution to Group Trading Profit 8.2%

  26. BidAuto – Hard driving Appendix 2 Results • Slump in vehicle sales was substantially worse than forecast, resulting in the division being unable to hold to an objective of maintained profits • Timely diversification into fleet management paying off • Motor Retail profits down 90% after R30m closure costs - down 70% excluding the charge • Used vehicle sales up 11.7% to 23 523 units and new unit sales down 24.2% to 17 730 units • Burchmore’s produced pleasing results due to an increase in bank repossessions and the success of its “wholesale to the public” marketing programme • Parts and service remained firm • ICU committee formed to monitor loss-making dealers; Meiya discontinued • Many customers unable to procure financing due to stricter credit granting criteria and NCA impact Rm Trading Profit Trading Margin 3.5% 2.4%

  27. BidAuto – Hard driving Appendix 2 • Disconnect between OEM aspirations and sales reality has exacerbated dealer situation • Heavy equipment exceeded budget • Car and van rental grew profits 43% but below budget in what is a cut-throat market • Import & Distribution incurred a loss due to demand well below expectation and currency effects • Yamaha profits declined as customers cut-back on discretionary spend • Increased impairments for doubtful-debts impacted McCarthy Finance but McCarthy Fleet Solutions produced impressive profit growth • Working capital improved markedly and stock levels reduced satisfactorily • Strategic imperatives & prospects • Motor retail market likely to decline further given the extent of global economic problems ; McCarthy results are in sympathy with worldwide collapse in car industry • Further corrective actions will be made to right size for current market • Used car market and aftermarket service hold promise • Import and distribution to remain challenging • Working capital to be aligned with activity • BidAuto will show substantially reduced profitability in F2009

  28. Corporate – Bricks & Fish Appendix 2 Corporate • Bidvest Namibia • Bidprop • Investment, other income & corporate costs Current contribution to Group Trading Profit 7.3%

  29. Corporate – Bricks & Fish Appendix 2 Results • Bidvest Namibia profits up more than four fold • Namsov benefited from better catches, firmer prices and a weakening currency. All other businesses performed as expected. The listing of Bidvest Namibia is now anticipated to take place in the fourth quarter of 2009. • Bidvest’s strategic property holdings, worth significantly more than book value, continue to be well managed and grow • Volume transport business in UK-based Ontime Automotive exited, depots rationalised within Rescue and Recovery and a major Parking Solutions contract wound down. A slowdown in the prestige vehicle market adversely affected Specialist Transport • Enviroserv investment sold for a profit of R391.8m Rm Trading Profit

  30. Appendix 3 Historic Performance

  31. Historic Performance -Year to June Appendix 3 5.1% 5.1% 5.1% 5.1% 5.2% 5.2% 5.2% 5.2% 4.4% 4.6% 4.6% 4.9% 4.9% 4.3% 4.4% 4.3% 4.4% 4.5% 4.5% 4.7% 4.7% 18% CAGR over 5 years 18% CAGR over 5 years

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