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

2. SA Economic Indicators for the month of July 2013 © 2013 Trade Intelligence Updated Quarterly (Last Updated: September 2013) Boom period SA Economic Indicators Household Debt Source: South African Reserve Bank Effects of low interest rates

3. SA Economic Indicators for the month of July 2013 © 2013 Trade Intelligence SA Economic Indicators COMMENTARY In Q4/01, the household debt-to-disposable income ratio stood at 55.3%, by Q2/06 it had increase to 71.8%. In Q2/13 the ratio of household debt to disposable income remains high, at 74.8%, which means that for every R100 earned, South Africans have R74,80 debt Growth in spending by households and private companies accelerated while that by government slowed in Q2/13 At the end of Q1/13, credit bureaus held records for 20.8 million credit-active South African consumers Currently 9.3 million out of 19 million credit-worthy South Africans are behind on their bills by three months or more According to FNB strategist John Loos, “Households are borrowing more on credit cards and store accounts” Personal loans account for 11% of total household debt Unsecured lending is a problem in South Africa. According to Sarb’s financial report for the year ending March 31, it said unsecured lending by the six banks increased from R321.36bn in December 2011 to R441.27bn in December 2012. Household Debt

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