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2009 INTERIM RESULTS PRESENTATION

2009 INTERIM RESULTS PRESENTATION. CONTENT. BUSINESS ENVIRONMENT AND current focus. BUSINESS ENVIRONMENT. CURRENT FOCUS. Interim results. SEGMENTAL CONTRIBUTION. HEADLINE EARNINGS. DIVIDENDS. PROFIT FROM OWNED AND LONG-TERM CHARTERED SHIPS. INCOME STATEMENT.

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2009 INTERIM RESULTS PRESENTATION

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  1. 2009 INTERIM RESULTS PRESENTATION

  2. CONTENT

  3. BUSINESS ENVIRONMENT AND current focus

  4. BUSINESS ENVIRONMENT

  5. CURRENT FOCUS

  6. Interim results

  7. SEGMENTAL CONTRIBUTION

  8. HEADLINE EARNINGS

  9. DIVIDENDS

  10. PROFIT FROM OWNED AND LONG-TERM CHARTERED SHIPS

  11. INCOME STATEMENT

  12. BALANCE SHEET Market value adjustment in respect of owned and chartered ships = R1,3 billion (not included above)

  13. KEY FINANCIAL RATIOS

  14. KEY FINANCIAL RATIOS

  15. Divisional overview

  16. SHIPPING

  17. FLEET OVERVIEW (* owned fleet 8.5; chartered fleet 28) (** owned fleet 25; chartered fleet 19 but can reduce by 11 ships if markets justify)

  18. CONTRACT COVER Note: variable volume contracts have been included at forecast volumes

  19. TRADING

  20. FREIGHT SERVICES

  21. FINANCIAL SERVICES

  22. Outlook/strategy

  23. SHIPPING Outlook: • Improving commodity demand • Large order book expected to impact freight rates • Contract cover provides protection • Handysize sector well balanced • Key factors: • worldwide recovery • supplyside correction Strategy: • Maintain strong balance sheet and liquidity • Maintain high level of contract cover • Continued expansion of ship operating activities • Take advantage of acquisition opportunities at the right time

  24. TRADING Outlook: • Improvement in industrial commodity demand expected, but more challenging trading conditions anticipated in H2 for Agricultural and Marine Fuels Strategy: • Conservatively extend trading platform • Source and invest in new origination businesses • Enhance supply chain solutions to customers • Continued focus on exposure to counterparty and market risks

  25. FREIGHT SERVICES Outlook: • Ports and Terminals expecting increased volumes from demand and added capacity • Improved trading conditions expected for Intermodal and Ships Agencies • Benefits expected from increased market share/restructuring of Logistics • Seafreight volumes expected to remain under pressure • Strong balance sheet and cash resources to fund expansion Strategy: • Grow ports and terminal capacity • Expand related logistical support – road/rail • Seek new port/terminal opportunities • Continue focus on operational efficiency

  26. FINANCIAL SERVICES Outlook: • Macro environment is expected to remain challenging for the remainder of the year andinto 2010 Strategy: • Grow assets under management and deposits • Continue conservative liquidity, credit and asset management policies • Focus on fee income opportunities/good quality lending • Pursue organic growth in all business units as well as take advantage of expansion opportunities that will arise in these markets

  27. CONCLUSION • Strong balance sheet • Good liquidity • Low-cost fleet with options to extend/purchase • Solid contracts with reliable counterparties • Good management team • Well established Trading business • Valuable strategic assets in Ports and Terminals • Financial Services well positioned to grow in current market • From this base we are positioned for substantial growth opportunities, particularly in Shipping, Ports and Terminals

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