Conference Nampak Growth Strategy in Africa

Presented by: Andrew Marshall| Date Tuesday, 22 nd March 2011 Agenda

• An overview of Nampak in Africa

• Our presence on the continent

• Strategy and growth opportunities

| 2 Nampak in Africa

Ethiopia 1

Kenya 2

Nigeria 2 Tanzania 1 Angola Malawi 1 1

Zambia Mozambique Namibia 2 1 1 Botswana 1 Zimbabwe Swaziland 5 1

| 3 Statistical Overview 2010

Countries 12

Operations 19

Turnover R1 213m

Trading Profit inc fees earned offshore R120m

EBITDA R130m

Assets R1 412m

Capital expenditure R228m

Employees 2 000

| 4 Total Turnover Generated from Africa

Operations R1.2bn

Exports R1.3bn

R2.5bn

| 5 Revenue in Major Countries

Rm 500

400

300

200

100

0 Malawi Zambia Tanzania

| 6 Exports to Africa

Others Kenya 7% 5% Swaziland 6% Namibia Mozambique 38% 8%

Zimbabwe 9%

Angola 12% Botswana 15%

R1.3bn

| 7 Our Presence on the African Continent

| 8 Nigeria

• 100% of Cartons & Labels

• Cigarette cartons

• Folding cartons

• Labels

• 57% of Nampak Nigeria

• Food and general cans

| 9 Nampak Nigeria

| 10 Nigeria - Cartons

• Established operation now with good skills and equipment

• Underpinned by 10 year supply agreement to BAT

• Good growth prospects in beer labels and FMCG multi-nationals

| 11 11 | 12 | 13 | 14 | 15 Non-Cigarette Business in Nigeria

| 16 Nigeria Metals

Shareholding Nampak 57% Public 43%

• Only two major independent players in metal packaging

| 17 17 Nigeria Metals Manufacturing Equipment

| 18 Nigeria Metals Manufacturing Equipment

| 19 Nigeria Metals Products

| 20 Angola

• Greenfield expansion

• $160m beverage can plant

• 700m cans per annum capacity

• Market estimated to be >1bn cans

• Contracts with major customers

• Due for commissioning in April 2011

• Revenues of >R500m in full year

• 30% equity partner

| 21 | 22 Angola Plant - Update | 24 East Africa

• Entered territory via acquisitions

• 4 factories

• Bullpack 49% – paper sacks

• Crown Cork 100% – crowns, food and general cans

| 25 East Africa

• Only 4 major independent players in metals

• Good manufacturing base in Kenya

• Substantial growth in the beverage sector

| 26 26 Nampak Kenya Manufacturing Facility

| 27 Nampak Kenya Manufacturing Facility

| 28 Nampak Kenya Manufacturing Facility

| 29 Tanzania Cans

| 30 Zambia

Mini Nampak

Liquid Paper & Plastic

Steel drums

Paper & Board

Crowns

Plastic crates

| 31 Zambia Liquid Packaging Equipment

| 32 Zambia Liquid Packaging Products

| 33 Zambia Rigid Plastics Products

| 34 Zambia Beer Labels

| 35 Zambia Folding Cartons

| 36 Zanbia Sugar Bags

| 37 Zambia Crowns

| 38 Malawi

• 60% of Packaging Industries Malawi

• Corrugated boxes mainly for tobacco

• Sorghum beer cartons

• Sacks

| 39 Packaging Industries Malawi

| 40 Malawi Corrugated Equipment

| 41 Malawi Liquid Cartons Manufacturing

| 42 Products made in Malawi

| 43 Swaziland

• Corrugated box operation supplying

mainly agricultural customers

| 44 Nampak Corrugated Swaziland

| 45 Mozambique

• 50% of Crown Mozambique

• Crowns for beverage bottles

• Only local manufacturer

| 46 Mozambique

| 47 Mozambique Manufacturing Equipment

| 48 Crowns made in Mozambique

| 49 Namibia

• PET bottle in-plant in Windhoek for

Namibia Beverages (Coca-Cola)

• Produce 20-25m bottles per annum

| 50 Botswana

• Milk and juice bottle plant

• Major customers – Clover and Sally Dairies

• Produce 20-25 million bottles per annum

| 51 Nampak Liquid Packaging Botswana

| 52 Zimbabwe

• Good growth prospects (tobacco / sacks)

• Indigenization Laws

• Political Stability

• Not full management control

• Adopt a wait and see attitude

| 53 53 Zimbabwe

Company Shareholding Products

Hunyani 39% Cartons, corrugated, sacks

Megapak 49% Crates, rigid plastics

CMB 100% Cans, rigid plastics

| 54 Hunyani

• Largest packaging company in Zimbabwe

2009 Financial Highlights US$ 000

Revenue 23 295

Profit before tax 576

Market cap 12 688

Net assets 27 577

| 55 Hunyani Corrugated

| 56 Hunyani Cartons & Labels

| 57 Hunyani Corrugated and Sacks Products

| 58 Hunyani Cartons & Labels Products

| 59 CMB Zimbabwe

| 60 CMB Zimbabwe

| 61 Nampak Zimbabwe Metals Factory

| 62 Zimbabwe Metals Products

| 63 Strategy and Growth Opportunities

| 64 Growth Strategy

• Build a market base through exports

• Establish local manufacture when critical mass achieved

• Diversify established manufacturing base to other Nampak

products

• Create hubs in key growth areas and trading blocks

• Follow major Nampak customers

| 65 65 Nampak in Africa – Regional Hubs

| 66 66 Multi-National Opportunities

• BAT • Cadbury • SAB Miller • Diageo • Heineken • Illovo Sugar • Coca Cola • Lafarge • Pepsi • Colgate Palmolive • Unilever • PZ Cussons • Nestle • Sara Lee • Diageo • Reckitt Benckiser

| 67 67 West Africa

68 West Africa - Strategy

• Expand cartons in Nigeria into non-cigarette markets

• Expand into other Nampak product lines

• Reinvest in metals production capability

• Consider acquisitions

• Leverage the technical competence of RSA

| 69 EAST AFRICA East Africa - Strategy

• Invest in plant capacity

• Follow brand owners in region

• Beverage

• Food

• Develop additional product ranges

• Consider acquisitions

• Leverage the technical competence of RSA

| 71 Revenue 2010

Rest of Europe Africa 22% 6%

R18.6bn Europe Rest of 8% Africa 8% South Africa 72% R15.9bn

South Africa After sale of Europe 84% Paper

| 72 Revenue Target in 5 Years

Europe 5% Rest of Africa 20%

South Africa 75%

| 73 Thank You

| 74