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

2. SA Economic Indicators for the month of July 2013 © 2013 Trade Intelligence SA Economic Indicators Consumer Confidence Updated Quarterly (Last Updated: August 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 July 2013 © 2013 Trade Intelligence SA Economic Indicators Consumer Confidence COMMENTARY Consumer confidence for Q2/2013 rebounded to +1, having slumped to -7 index points in Q1/2013 This is an indication of improved consumer confidence across all income and population groups The improvements in consumer confidence correlates with better growth in retail sales and new vehicles and resilience in the labour market in recent months According to the Department of Trade and industry, the growth in new passenger car sales rebounded from 3.2% YOY during Q1/2013 to 8.6% in Q2/2013 Similarly, retail sales volumes showed growth of 6.2% YOY in May, up from 3% YOY in Q1/2013 and 2% in May 2013 The improvements in the CCI during Q2/2013 suggest an increased willingness among consumers to spend and helps explain the improvement in the retail and car sales in recent months In order for the rise in consumer confidence levels to translate into a more permanent improvement in household consumption expenditure, there also needs to be a sustained recovery in real disposable income growth and household credit extension Consumers remain cautions due to the following factors such as:  Record high fuel prices  High unemployment levels and muted job creation  Rising food inflation  Slowed growth in Government spending

4. SA Economic Indicators for the month of July 2013 © 2013 Trade Intelligence tel +27 31 303 2803 fax +27 31 303 4560 info@tradeintelligence.co.za Kim Furber | Online Support Helga Altenroxel |Retail Analyst Kate Shirley | Independent Retail Analyst Maryla Masojada |Head Research 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 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