#1Santova Investor Presentation 4 June 2020#2A challenging trading environment Global Economy GDP growth (2,4%), its slowest rate since global financial crisis a decade ago. The United States Europe's largest trading partner, GDP slowed down to its lowest rate (2,3%) since 2016. United Kingdom The UK avoided a recession despite seeing the biggest year-on-year slowdown in nearly a decade. It shrank by 0.2% in the three months to June 2019. BREXIT also a contributing factor. Eurozone Eurozone growth of 1,2% hit a seven-year low, dragged down by weakness in its three largest economies, Germany, France and Italy. Santova China China's GDP growth of 6,1% was the slowest since 1990. Africa South Africa With economic growth in 2019 being the lowest since the 2008-2009 global financial crisis, South Africa slid into its third recession since 1994. The ASEAN ASEAN growth of 4.8% was slower than forecasted, down from 4.9% (2018)#3CORONAVIRUS The extent of the impact will be determined by the following: ■ Asset or Non - Asset Based - Capital equipment, warehouses, commercial trucks and trailers. ■Industry Exposure - Apparel, alcohol, airlines and tourism severely impacted. ■ Trade Lanes - Asia Pacific back to normal, they are exporters/suppliers of PPE and related commodities. ■ Cash Flows/Retained Earnings - South Africa moved from recession into 'lockdown'. ■ Government Support - Re-payable loans vs grants/subsidies that are not repayable. Wins during this period, include: ■ Resilience - offshore holding their own, South Africa proving to be challenge. ■ Innovation - New markets, new business models (aircraft charters, PPE, e-commerce). ■ Internal Focus - Workflow process automation and further re-structuring of the South African business. ■ Remote work-stations - A workable reality, less than half the current office space in SA is required.#4Apparel Automotive Manufacturers Automotive Suppliers Consumer Durables Gaming Beverages Chemicals Manufacturing Media Metals & Mining Oil & Gas / Oilfield Services Property Developers (China) Protein & Agriculture Services Companies Steel Producers Technology Hardware MODERATE HIGH EXPOSURE Lodging/Leisure & Tourism (Includes Cruise Lines) Passenger Airlines Retail (non food) Global Shipping Global Covid-19 Impact Heatmap EXPOSURE LOW EXPOSURE Construction/Materials Defense Equipment & Transportation Rental Packaging Pharmaceuticals Real Estate, REITS Food / Food Retail Telecoms POTENTIAL POSITIVE IMPACT Waste Management Personal Protective Equipment Internet service companies, Retail (online), Gold mining moodys.com/coronavirus#520 AUDITED ANNUAL FINANCIAL STATEMENTS 20 for the year ended 29 February 2020 Santova High level performance of the Group Santova Resiliency is well portrayed by a 6,4% growth in profit, which is a turnaround of 19,7% from the reported decline of 13,3% for the six months ended 31 August 2019. The second six months benefited significantly from the initiatives that were implemented during the first six-month period. Whilst SA continued to regress economically, improved performances in the Santova offshore businesses, specifically the UK and Europe, offset the impact of the decline in SA through significant increases in profit. 79,5% Offshore earnings 6,4% Santova Group 116% 1 29,3% 2,3% 1 United Kingdom Europe Asia-Pacific - 44% South Africa 440 % Net cash generated from operations 20,9% Revenue and interest income 16,7% 1 Net asset value to R3,66 per share 1#6Trade Volumes and Client Diversification Africa Santova Asia Pacific Europe United Kingdom 2020 2019 % 2020 2019 % 2020 2019 % 2020 2019 % KG AIRFREIGHT Files 2 477 172 3 795 2 385 288 4% 5 146 -26% 1 788 268 917 562 95% 4 021 244 3 309 168 22% 835 924 796 072 5% 2 551 1 907 34% 5 514 TEU 21 113 SEAFREIGHT Files 11 129 17 029 24% 12 401 -10% 11 684 8 032 45% 14 104 7 836 6 264 25% 9 708 5 229 11 120 27% 7 464 30% 5% 2 422 1 889 28% COURIER Files 5 519 7 276 -24% 1 238 135 817% 138 78 77% 35 957 20 057 2 627 34 175 5% 19 216 4% 5 52440% TOP 10 CLIENTS Observations Overall, good progress has been made. South Africa has acquired a significant number of new clients - INCO terms are now being addressed. Asia Pacific and Europe are building scale in sea/air. Asia Pacific and United Kingdom offer significant opportunities for Santova Express Courier Services. Country Industry 1234567800 SA/Asia SA Textiles/apparel / accessories Armoured vehicles UK Textile recycling SA Food and beverage SA/Asia SA Consumer electronics Automotive UK Electronics NL 9 UK 10 NL Ceramics Engineering equipment Bicycle tyres and inner tubes % of Total 2,53% ☐ 1,33% 1,31% 1,25% 0,86% 0,74% ◉ 0,74% 0,70% 0,68% 0,68% % of Total Revenue 10,81% Top 10 Client Revenue R44 754 991 Total Revenue R413 826 274#7A specialist in innovative global supply chain solutions International Trade Services Santova Advanced Supply Chain Technologies Business Intelligence Value Add Services Supply Chain Engineering ☐ Market Research Logistic Services ■ Global Project Management ■ Client Sourcing and Procurement Management Services Express or Time-Sensitive Courier Services ■ Financial Services Sourcing, development, implementation, analysis, management and optimization through latest cloud based technologies and sophisticated software packages. Digital transformation, enabling cloud based technologies to unlock data for analysis or predictive analytics, including streamlining and optimizing supply chain decision making and management. Santova global matrix project teams delivering a diverse range of tailor-made services and solutions based on a company's unique needs, globally. Santova#8Global Footprint 20 Offices in 8 countries on 4 continents Staff Compliment: 319 Shareholders: 4,546 United Kingdom Santova Logistics Tradeway Shipping SAI Logistics London Milton Keynes Birmingham Manchester Leeds Netherlands Santova Logistics Schiphol Rotterdam Germany Santova Logistics Hamburg Frankfurt Mauritius ASM Logistics Ebene South Africa Santova Logistics Santova Financial Services Santova International Trade Solutions Johannesburg Cape Town Durban Port Elizabeth Pietermaritzburg Australia Santova Logistics Sydney China Santova Logistics Hong Kong Mainland China Thailand ASM Logistics Bangkok Vietnam ASM Logistics Ho Chi Minh Malaysia ASM Logistics Kuala Lumpur Singapore ASM Logistics Singapore#9Key differentiators Business Risk Clients ☐ Leadership A formidable entrepreneurial culture, effective hands-on leadership Defined by a powerful 'stakeholder' mentality, underpinned by sound values and philosophies ☐ Proven track record of strategic and highly accretive M&A transactions Global diversification: currency, geographical, multiple industries, client spread Multiple revenue streams Complementary, diverse business activities Quality client base with limited exposure to bad debts or write- off's ◉ Globalisation, unlimited growth in opportunities and target markets Client-centricity, relationship driven focus on medium sized enterprises End-to-end supply chain management and control for clients Diversity, no over concentration on any one industry Cloud Technologies Growth and intellectual differentiation driven by next generation technology A business model founded on 'disruptive market forces' Asset-light business model#10Industry analysis#11Santova AVERAGE ANNUAL GROWTH RATE Revenue, Operating profit, Profit after tax, Cash generated by operations (AAGR) 2015 - 2020 60,0% 50,0% 40,0% 30,0% 20,0% 10,0% 0,0% -10,0% Santova mperial Supergroup Value Group DSV CH Robinson Expeditors Kuehne & Nagel Agility -20,0% R700 000 R600 000 R500 000 R400 000 R300 000 R200 000 R100 000 R- -R100 000 REVENUE OP PAT CASH GEN BY OPS Net Profit per Employee ZAR (2019) CH Robinson Expeditors Agility (KD) Santova (USD) (USD) (ZAR) Kuehne & DSV (DKK) Supergroup Nagel (CHF) (ZAR) Imperial (ZAR) Value Group CEVA (USD) (ZAR)#12Operational efficiency - effectiveness R250 000 Net profit after tax per employee Number Number of staff 321 310 350 265 300 250 200 150 100 50 0 2008 2010 2012 2014 2016 2018 2020 2022 Years Rands Rands R1 200 000 R1 000 000 R800 000 R200 000 R150 000 R100 000 R50 000 R15 800 R78 184 R209 810 RO 2008 2010 2012 2014 2016 2018 2020 2022 Years Turnover per employee Technology driven operational efficiency R1 137 100 R556 978 R600 000 R369 955 R400 000 R200 000 RO Years 2008 2010 2012 2014 2016 2018 2020 2022#13Technologies that are re-shaping the industry Santova The Internet The Internet of Things (IOT): Interconnection via the internet of computing devices embedded in everyday objects, enabling them to send and receive data. The Cloud Enabling new platform-based business models and increasing efficiency. Blockchain Enhanced supply chain security, reduction in bottlenecks and paper- based documentation, including efficiency. Data Analytics Process of inspecting, cleansing, transforming, and modelling data for the purpose of fact-based decision making and predictive analytics. Robotics & Automation Reduction in human workforce and increased efficiency in delivery and warehousing (including sorting and distribution centers). 3-D Printing Drones Autonomous Vehicles Lower transportation demand, transported goods would mostly be raw materials Increased cost efficiency, and workforce reduction Reduction in human workforce, increased efficiency in delivery processes#14Technological advancements LOCK TradeNav Santova Mobile APP Santova Express SUREcargo CHAIN MI a D X#15Trade Nav Santova TradeNay Santova's unique sophisticated suite of software packages (cloud-based system) that interface with client systems whilst at the same time providing clients with web-based control. This has facilitated the Internet of Things (IOT) which offers businesses the ability to transfer data over a network without requiring human-to-human human-to-computer interaction. imputer int or TRADENAV#162.5 2.3 2.22 2.1 1.9 1.7 1.5 2.42 2.37 TRADENAV R/KG Logistics Cost Reduced by 25% 1.7 2.2 1.95 1.89 SAVINGS MILLIONS R 6.00 R 5.00 SA FREIGHT CALCULATED SAVINGS R 4.00 R 2.29 R 3.00 R 1.69 R 2.00 R 2.56 R 1.00R 0.51 R 0.99 R 2.75 R 1.01 R 1.05 R 1.67 R- FY2014 FY2015 FY2016 FY2017 R 0.74 FY2018 ■Consolidation Savings Freight Rate Savings Exw to Delivery Performance Tracking Target 2015 AF 2015 SF 2013 SF 2.42 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% KPI Achieved Client Delay Santov a Delay Port Delays Authority Stops 2.1 1.91 1.86 1.82 1.79 800 000 1.3 600 000 Sept Nov Jan - June 2013 2014 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr 400 000 -Total Logistics Spend -Monthly -Original Cost Trajectory -target Year 1 200 000 Airfreight Weighted Avg. $ per KG vs. Volume Shipped - Consol Airports $4.00 $ 3.00 $ 2.00 $ 1.00 $- FY2014 FY2015 FY2016 FY2017 FY2018 Volume Shipped -W/A $ pkg#17Santova Mobile APP Santova APP A client facing mobile application and latest supply chain management tool. The App is directly linked to Trade Nav and assists in unlocking supply chain. data, enabling visibility, transparency and accurate real time tracking functionality. The App is now available. on both Android and iOS operating systems. Santova Home Shipment number STEMSTONE DEHAM Hamburg ETD-8 Jul 2019 Santova Client reference 101004 CNSHG Shanghai Pt ETA -26 Jul 2019 Shipment number STEMO1900016 DEFRA Frankfurt am Main TBA Client reference 1003 Shipment number STEMA1000015 DEFRA Frankfurt am Main ATD-29 May 2019 Shipment number STEMS1000014 GBLON London TBA Client reference 1061002 HKHKG Hong Kong ATA-30 May 2019 Client re Santova Santova APP#18Home Santova Shipment number STEMS1900017 DEHAM Hamburg ETD-8 Jul 2019 Client reference IOSTest1004 CNSHG Shanghai Pt ETA 26 Jul 2019 Shipment number STEMO1900016 Client reference IOSTest1003 DEFRA Frankfurt am Main TBA GBLON London Shipment Details Shipment number STEMS1900017 DEHAM Hamburg ETD-8 Jul 2019 TBA + Details IOS1002 Shipment number STEMA1900015 DEFRA Frankfurt am Main Client reference HKHKG Hồng Kong ATA-30 May 2019 Tracking Client reference 10STest1004 CNSHG Shanghai Pt ETA-26 Jul 2019 Cargo Collection from Shipper Actual Date 5 Jul 2019 Shipment Details Notifications Departure from Hamburg to Binh Duong Terminal STEMS1900017, 1OST... 5 days ago New estimated date received: 2019-07-08 at 00:00 Arrival at Binh Duong Terminal STEMS 1900017, IOST... 5 days ago New estimated date received: 2019-07-17 at 00:00 Departure from Binh Duong Terminal to Shanghai Pt STEMS1900017, 1OST... No 5 days ago New estimated date received: 2019-07-19 at 10:51 Arrival at Shanghai Pt STEMS1900017, 1OST... ATD-29 May 2019 Shipment number STEMS1900014 Client re JOS a 8 Jul 2019 个 Santova Mobile Application Sweden Shipment Details Location Finland Russia Poland Departure from Hamburg to Binh Duong Terminal Estimated Date New estimated date received: 2019-07-26 at 00:00 5 days ago Germany Ukraine Kakhstan ce Mongolia Italy Turkey China New Document-Packing List STEMS1900017, IOST... Iraq Iran 5 days ago Afghanistan Pakistan ria Libya Egypt Arrival at Binh Duong Terminal Document Imported for shipment STEMS1900017 Saudi Arabia India Niger Sudan, Estimated Date 17 Jul 2019 New Document - Commercial Invoice STEMS1900017, 10ST... Chad 5 days ago Nigeria Ethiopia Document Imported for shipment STEMS1900017 Kenya- DRC Indonesia ° оо > Tanzania Cargo Delivery to Consignee STEMS1900017, JOST... Angola 5 days ago Namibia Madagascar Indian Ocean Botswana > 0 ° ° South Africa ப iS 0 >#19Santova Express Pad SANTOVAEXPRESS Santova Express An advanced technological courier software solution offering automated functionality from on- line booking through to final delivery, including full track and trace features and customizable customer web portal in select cases. 09:35 Santova, Johannesburg, 15 May 2020 Santova Express Courier Services Login Access code Username Password Sign in Reset Password Online Delivery Booking System Santova 93% Santova#20Santova INNOVATIVE SOLUTIONS ENDLESS POSSIBILITIES Booking Addresses Search... Quote- Book Exports ▾ My Bookings Pickup Manager Addresses Users Reports ▼ Consignment Dimensions & Weight Services Package details Total number of items Length (cm) Width (cm) Height (cm) Items' total weight (kg) 1 Quote details From country: Required a From postcode/address: a To country: Required a To postcode/address: a Package details Total number of Items Length (cm) 1 1 Items total ✓ Services Filter by. Show jobs with any of the following status': Delivered In transit Processing Awaiting collection Contents type: Non documents Ready on: Wed, 15-Apr-2020 11:18 © Total weight: 1.00 KG Total number of items: 1 Width (cm) Height (cm) Items' total weight (kg) Quote Run report Export PDF Export CSV Abandon quote Quoted Overdue ...with any of the following products: Exports Imports SANTOVAEXPRESS#21SURECargo Santova SUREcargo An advanced technological development providing an internet or online, on- demand cargo insurance portal allowing users to seamlessly apply for instantaneous insurance cover for any mode of transport including road, air, sea, rail and multimodal. The portal can be used by insurance brokers, companies and individuals alike. IF SUREcargo On-demand Cargo Insurance L MARINE INSURANCE AT YOUR FINGERTIPS Logon Register SAL#22Most importantly... Scalability Data Analytics The Internet Robotics & Automation Drones Blockchain 3-D Printing By reducing non-revenue generating tasks, which are mostly manual, through the automation of most administrative tasks or work-flow processes, we will be offered the time to leverage off client-centricity and increase operating margins even further.#23Financial Results#242020 In Perspective GO Santova • 2020 offered encouraging results achieved through a globally diverse portfolio of companies, enabled by both organic and acquisitive growth. • The Group's strategy to build a diversified, global business provided a hedge against the general regression of the SA economy and its currency, with offshore. earnings constituting 79,5% of total earnings. • Caution was given to the unfolding COVID crisis resulting in an increase in debtor provisions and no dividend declared to protect cash flows#252020 Acquisitions One acquisition completed in 2020 • MLG Maritime Logistics (Germany) • Acquired 100% effective date 1 March 2019 • Total purchase price - € 1,9million • Total goodwill - € 1,2 million ● Funded through . € 500k cash • € 740k short term loan from the seller • 2 year warranty period • Warranted profit before tax - € 350k p.a. GO Santova#262020 Operating context: FOREX GO 2020 R'000 2019 R'000 Movement Weighted % average AVERAGE EXCHANGE RATES Primary Reporting Currencies - GBP/ZAR EUR/ZAR - AUD/ZAR HKD/ZAR Santova 18.63 17.82 4.5% 1.8% 16.23 15.76 3.0% 0.9% 10.04 9.92 1.2% 0.1% Impact resulting from the translation of foreign operations 1.86 1.73 8.0% 0.5% 00005 000308 Other Transactional Currencies USD/ZAR 14.58 13.53 7.8% WEIGHTED AVERAGE EFFECT ON INCOME STATEMENT 0.4% Indirect impact on South African revenues 3.7% CLOSING EXCHANGE RATES Primary Investment Currencies - GBP/ZAR - EUR/ZAR 20.02 17.22 18.59 15.93 7.7% 8.1% Direct impact on OCI, Assets, Liabilities and Equity AVERAGE EFFECT ON FOREIGN CLOSING BALANCE SHEET VALUES 7.9%#272020 Statement of Profit & Loss : Analysis Santova BILLINGS REVENUE Other income Depreciation and amortisation Administrative expenses Operating profit 18 649 11 418 63.3% 32.5% (24 154) (4 191) (318 465) (263 317) 89 856 86 144 476.3% 20.9% 4.3% 332.6% 9.3% (12.6)% 2020 R'000 2019 R'000 Move % 4 341 750 4 220 581 2.9% Excluding Acquisitions (0.7)% 5% decline in SA billings offset by growth in offshore operations 413 826 342 234 20.9% 7.0% 1% decline in SA revenue offset by growth in acquisitions and offshore revenue (Customs Duties & VAT) Reclassification of insurance binder commissions, increased foreign exchange gains, and rental income sublet offices R21.1 million IFRS16 lease liability charge included in FY20 Inflationary + additional overheads to accommodate growth Finance income 226 Finance costs (7 666) 202 (5726) 11.9% 2.7% 33.9% 23.0% Increase due to IFRS16 finance charges Profit before taxation 82 416 80 620 2.2% (15.1)% Income tax expense (17 424) (19 506) (10.7)% (22.1)% Continuing effect of lower international tax rates and growth in offshore earnings Profit for the year 64 992 61 114 6.3% (16.6)% Other comprehensive income Exchange differences on translation 22 275 33 975 34.4% 34.4% Translation gains due to weakend Rand on closing (29 Feb 2020) Key ratios: Billings/revenue margin 9.5% 8.1% 1.4% - Operating margin 21.7% 25.2% -3.5% - Effective tax rate 21.1% 24.2% -3.1% 7.8% 25.3% 24.4% Growth in offshore billings which exclude customs duty and VAT Benefit of SA restructure only realised in second half of the year Headline earnings per share (cents) 40.78 38.21 6.7% 37.14#282020 Geographical : Analysis AFRICA R'000 ASIA PACIFIC R'000 BILLINGS 2020 Movement MARGINS 2020 Movement REVENUE 2020 Movement ADMINISTRATIVE EXPENSES 2020 Movement PROFIT FOR THE PERIOD 2020 Movement 2 383 897 -5% Weak SA economy, Lower trade volumes UK R'000 334 286 31% +15.9% ASM acquisition normalised HK down due to SA links Recessionary Australia environment| 928 214 17% +11.8% - SAI acquisition normalised Organic growth delivered through existing operations EUROPE R'000 Santova 687 205 5% -5.7% excl Maritime acquisition Strong Santova Netherlands performance, decline in Santova Germany results 5.9% 0.2% 14.3% 0.4% 13.1% 2.7% 15.0% 3.6% Santova HK control tower improved buy rates Increased trade volumes through organic growth +2% excl Maritime acquisition 139 934 -1% 47 918 35% +15.0% - ASM acquisition normalised| 121 148 48% +23.9% SAI acquisition normalised 102 863 39% +10.4% excl Maritime acquisition 115 838 6% Consistent with SA inflation Increase in general povisions| 35 722 37% +15.9% - ASM acquisition normalised Increase in general povisions 89 512 30% +15.8% - SAI acquisition normalised Increase in general povisions| 74 914 38% +9.8% excl Maritime acquisition Increase in general povisions] 14 094 11 337 -47% 2% -13.2% - ASM acquisition normalised 22 031 116% +61.4% - SAI acquisition normalised 18 798 29% -1.4% excl Maritime acquisition#29RATIOS EQUITY AND LIABILITIES ASSETS 2020 Statement of Financial Position analysis: Analysis 2020 R'000 2019 R'000 Move % Trade & other receivables 636 943 651 598 (2)% Intangible assets 297 176 253 344 17% Cash and cash equivalents 134 402 89 801 50% R24.4mil goodwill on acquisition of Maritime, R16.1mil forex gain on goodwill Result of increase in cash generated from operations Property, plant and equipment 28 573 27 638 3% Financial assets 9 300 Income tax asset 12 103 7 637 6 959 22% 74% Deferred Tax on assessed losses Right of use asset 51 684 1 170 181 1 036 977 100% 13% Right of use asset arising from adoption of IFRS16 564 533 502 257 12% Capital and reserves Liabilities ST Borrowings and overdrafts 218 103 Trade and other payables 209 236 Interest-bearing borrowings 51 251 245 559 188 111 48 940 Financial liabilities 36 300 35 182 Short-term provisions 28 564 11 965 Current tax liability 6 864 3 805 Employee benefit obligations Lease Liability 1 096 1 158 54 234 (11)% 11% 5% 3% 139% 80% (5)% 100% Invoice discounting facility in SA - decline due to reduction in billings in SA Consistent with 1.4 day increase in creditor days, Maritime accquisition Increase in general provisions and "employee benefit obligations" Effect of UK growth where no provisional payments are made - Lease liability arising from adoption of IFRS16 1 170 181 1 036 977 13% - Debtor days - Debt to equity ratio 48.9 23.9% 52.6 40.8% 3.7 16.9% - NAV per share 3.66 3.13 17% Santova#302020 Trade Receivables Credit Quality Analysis : 2020 R'000 % 2019 R'000 % Movement % Trade receivables 581 421 100% 607 663 100% (4.3)% South Africa - Offshore 408 216 173 205 70% 30% 457 518 150 145 75% 25% (10.8)% 15.4% Key ratios: Debtor days Impairment provisions - Total amount - Percentage of Trade receivables Impairments written off - Total amount (net of recoveries) - Percentage of Trade receivables Santova Decrease in SA debors book aligned to increase in offshore operations 48.9 52.6 (3.7) Impact of SA ageing reduced by 4 days (62 to 58) 12 092 2 800 331.9% Conservative view taken due to potential COVID-19 impact 2.08% 0.46% 351.3% 2 381 0.41% 2 156 0.35% Ageing of Trade Receivables - Total amount >60 days past terms 19 716 8 605 - Percentage >60 days past terms 3.39% 1.42% 10.4% 15.4% 129.1% Majority of overdue debtors relate to SA where the book remains insured 139.5%#312020 Cash Flow: Analysis RECONCIALLIATION OF CASH GENERATED Net cash generated from operations Net profit after tax Difference KEY WORKING CAPITAL MOVEMENTS 2020 R'mil 109.2 65.0 44.2 GO 41.3 Inflow/(outflow) from Trade Receivables 10.2 Inflow due to SA book downtrading, and Africa 15.9 improvement in debtors days Europe 1.8 UK 3.8 Outflow due to working capital requirements from organic growth SE Asia 3.7 Outflow due to extended Debtor Days in Australia Inflow from increase in Trade Payables 10.0 IFRS16 Lease liabiliy 21.1 Santova#32Santova's Business Model Example of impact of Working Capital on Cash generated from operations Contractual relationship Billings Revenue Trade receivables Debtor days SANTOVA Group R'000 Agency basis 4 341 750 413 826 Comparative Company R'000 Santova Principal basis * * Where customs Duties & VAT are not funded on behalf of clients 413 826 413 826 581 421 55 441 48.9 48.9 Comparative effect on Trade Receivables is substantially lower 82 416 82 416 Equivalent profit generated Profit before tax Example: Impact on working capital through 5% negative movement in Trade Receivables 29 071 Percentage reduction in cash generated from operations -35% 2 772 -3%#332020 Cash on Hand : Analysis CASH ON HAND 2020 - 2019 2020 R'mil 44.6 134.4 89.8 GO ANALYSIS OF MAJOR MOVEMENTS 41.2 Net cash generated from operations 109.2 Repurchase of treasury shares (12.5) 5.9mil shares repurchased Payment of financial liabilities (14.0) First ASM (Singapore) and SAI (UK) warranty payment Movement in LT borrowings (14.6) Ongoing quarterly repayment of R60 million medium term loan Acquisitions (13.2) Net cash payment for Maritime Logistics (Germany) Capital expenditure - Propety, Plant & Equipment (3.2) Capital expenditure - Intangibles (5.5) R1.2 mill computer hardware and software, R1mil furniture & fittings Computer software acquired Annual Group dividend (11.9) Paid June 2019 - 7.5 cents per share Disposal of investement portfolio 6.9 Disposal of investment portfolio accquired through Maritime acquisition UNUTILISED AVAILABLE BANKING FACILITIES - 2020 - 2019 214.5 Increase due to ongoing repayment of medium term facility, reduction in SA ID facility 186.2 Santova#34Focus going forward#35Client Centric Innovative Engagement Focus areas going forward Growth Economic Zones Advanced Technologies Strategic New Offices The engagement of professional employees that are extremely knowledgeable, skilled and IT literate. Innovation, intellectual property, global know- how and a matrix network serving as a differentiator. Building Intra-Asia- Pacific economic trade lanes. Particularly China, India, Japan, Southeast Asia (Indonesia, Vietnam, Malaysia, Thailand and Bangladesh). Leveraging off cloud- based technology, digital transformation and data analytics to improve the operational efficiency and effectiveness (operating margins) of both Santova (internal) and client (external), driven. by automation. Establishing a presence in strategic locations, namely, India, Vietnam, Thailand, Malaysia and the United States. Santova#36Asia Pacific economic zone Post Brexit, UK open growth strategies will build trade lanes with India, China, SE Asia and Japan. ASEAN GDP growth rates expected to remain around 6.0% in 2020/21. The United States and European Union remain significant trading partners with the ASEAN. Manufacturing moves to Southeast Asia (Indonesia, Vietnam, Malaysia, Thailand, and Bangladesh). Fast growing intra-Asia Pacific trade, between China, India, Japan and Southeast Asia countries. China's rising wages, continued urban migration and India's growing middle class will drive growth. Asia Pacific GDP growth is projected to be to 5.7% in 2020 (Global Growth 2,5%) China Hong Kong Taiwan Korea Japan Thailand Malaysia Singapore Philippines GDP% 2019 2020 2021 2022 China 6.1 5.9 5.8 5.7 Bangladesh 8.1 7.2 7.3 7.3 Cambodia 7.0 6.8 6.8 6.8 Vietnam 6.8 6.5 6.5 6.4 India 6.8 5.0 5.8 6.1 Indonesia 5.0 5.1 5.2 5.2 Malaysia 4.6 4.5 4.5 4.5 Pakistan 3.3 2.4 3.0 3.9 2030 • • China will make up 17 of the top 25 bilateral trade routes globally Asia-Pacific will make up 8 of the top 25 trade pairs Establishing own offices Indonesia Cambodia Vietnam India Bangladesh Sri Lanka Pakistan Australia New Zealand THE WORLD BANK January 2020#37Africa as an economic growth zone ☐ ■ Growing middle class and increasingly ◉ sophisticated consumers. 8 of the 15 fastest growing economies globally come from Africa. GDP growth in Africa is projected to reach 3.2% (2020) and 3.5% in 2021. 25 African countries are projected to achieve economic growth of at least 5% in 2020. ◉ EU economies (France/Germany) exported to Africa more than double the value of goods that Britain did. Africa#38Future strategy Tough environment yet we are well poised to take on the challenge for growth Santova ◉ Global trade wars and tensions will continue to interrupt global trade. The European economy has declined as Brexit concerns continue to weigh heavily on European sentiment. ■ With the arrival of Coronavirus pandemic in January this year, matters have been complicated even further. ◉ South Africa remains an unpredictable operating environment which is both a concern and a challenge for the future. These factors are all signaling a highly likely contraction of global economies. Our response ◉ ◉ ◉ The 'new norm', continuous unrelenting disruptive change, offers Santova real growth opportunities. Our focus is on exceptional client-centricity, innovation and latest technological software packages. We will build our business in and along real economic growth zones or trade lanes, including participating in intra- regional trade between China, Japan, India, Singapore, Vietnam, Malaysia, Thailand, Cambodia and Bangladesh. We will continue with our hands-on leadership, constantly re-positioning and developing our workforce.#39Building shareholder value Santova In concluding, We believe profits or share price are not necessarily a reflection of value, value per share is, particularly from a South African listed environment perspective. In this regard, we will continue to focus on building value per share by; ■ Focusing on strong operating margins, cash flow and profitability. ■ Balancing buying own shares back when the share price is low versus making strategic acquisitions.#40Thank you for your interest in Santova and for your continued support. Va Santova Santova 瓜 Santova