1. SA Economic Indicators: for the month of May 2013

2. SA Economic Indicators for the month of May 2013 © 2013 Trade Intelligence SA Economic Indicators Consumer Confidence Updated Quarterly (Last Updated: June 2013) Source: Bureau for Economic Research 2008/2009 Recession Dramatic drop in confidence Boom period – High levels of GDP growth Consumers upbeat due to World Cup euphoria

3. SA Economic Indicators for the month of May 2013 © 2013 Trade Intelligence SA Economic Indicators Consumer Confidence COMMENTARY Consumer confidence for Q1/2013 dropped by 4 index points to -7 This brings it to a 9-year low, with levels last reaching -7 in Q1/2004 It now measures even lower than its trough of -6 in the height of the 2008/2009 recession This is contrasted by US consumer confidence which reached a 5-year high at the end of May The SA figure indicated that consumers will be particularly cautious in their spending in 2013 Expenditure in household consumption was the mainstay of the economy from 2010 to 2012, making up two-thirds of the SA economy Consumers are cautious due to:  High unemployment levels  Violent strike action  Threats of power failures during the winter  Rising inflation  The subdued outlook for foreign investment

4. SA Economic Indicators for the month of May 2013 © 2013 Trade Intelligence Disclaimer These materials and the information contained herein are collated by TI* referencing a wide range of public domain data sources, face-to-face interviews, retailer presentations and financial reports, and are intended to provide general information about the South African consumer goods trading environment and selected retailers, and are not intended as an exhaustive treatment of such subjects. Whilst every effort has been made to ensure that the information published in this work is accurate, your use of these and the information contained herein is at your own risk. The information is not intended to be relied upon as the sole basis for any decision which may affect you or your business, and TI makes no express or implied representations or warranties regarding the accuracy of the information herein. TI will not be liable for any special, indirect, incidental, consequential, or punitive damages or any other damages whatsoever, whether in an action of contract, statute, tort (including, without limitation, negligence), or otherwise, relating to the use of these materials and the information contained herein. TI expressly disclaims all implied warranties, including, without limitation, warranties of merchantability, title, fitness for a particular purpose, non- infringement, compatibility, security, and accuracy. * TI refers to The Retail Workshop (Pty) Ltd trading as Trade Intelligence For further information: +27 (0)31 303 2803 / info@tradeintelligence.co.zainfo@tradeintelligence.co.za Other Sources ABSA Agri Trends; BizCommunity; Bloomberg; Business Day; Business Report; Department of Agriculture, Forestry and Fisheries; Financial Mail; Finweek; Fin 24; The Mercury; Reuters; Stanlib, Sunday Times; Sunday Tribune; The Times ; www.businesslive.co.za; www.businessweek.com; www.moneyweb.co.za; www.supermarket.co.za; thesouthafrican.com CONTACT : For Content Queries Katia Benedetti | Associate Writer tel +27 (0) 31 303 2803 katia@tradeintelligence.co.za katia@tradeintelligence.co.za Contact and Disclaimer CONTACT : For Account Management Queries Annomi Kriel | Account Manager tel: +27 (0) 31 303 2803 annomi@tradeintelligence.co.za