Investor Presentaiton

It is evident that the radio stations focusing on the upper LSMs have the highest share of revenue vs share of audience 16% 14% 12% 10% 8% 6% 4% 2% 0% Percentage Share of Revenue vs Share of Audience 94.7 Highveld Stereo Jacaranda 94 - 97 FM Source: PwC Analysis Radio Metro Ukhozi FM 5fm East Coast Stereo Radio Kfm 702 Talk Radio Good Hope FM Umhlobo Wenene FM % of Revenue % of Audience 10

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