Interim Financial Results For the six months ending 30 September 2015 Presentation by CEO, Stephen van der Walt Friday, 6 November 2015

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Content

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Descrip)on01 Financialhighlights02 Opera)onalreviewandbusinessupdates03 Groupfinancialposi)on04 Strategy05 Outlook

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Key financial highlights

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Developmentinopera)onalefficiencyini)a)vesandgrowthinnewbusinessareas.

HEPSIncreased

to75,7centspershare

128c (PLS 123c)

Headline Earnings Per share

135c

(FY14)

5.8%

16.2%

GrossProfitMarginImproved

31,4%

Opera)ngProfit

Increasedto

R352,2Million

12,3%

2014:27,5% 2014:

R313,6million

2014:65,1centspershare

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Revenue: Print operations

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MarginaldeclineinrevenuetoR1,97billion(2015:R2,0billion).

Category6MonthsSep2015Share%

6MonthsSep2014Share%

Comments

Magazines

20,8% 24,1%Althoughthemagazinemarketisstable,therearevolumepressuresoncertainelementsofthetrade

magazinemarket.

Retailinserts

26,3% 27,7% RetailworkremainsconsistentandsHllholdsthehighestshareoftotalrevenue.

Booksanddirectories

24,6% 21,2%Theshareofgrouprevenueincreasedmostlydueto

workgeneratedfromoutsideSouthAfricaandincreasedvolumesfromtheeducaHonsector.

Newspapers 22,2% 23,3%

ThenewspapershareoftotalrevenuedeclinedmarginallyandconHnuestobeaffectedbypaid-for

dailies.

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Revenue: Labels and tissue operations (Manufacturing)

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Category6MonthsSep2015Share%

6MonthsSep2014Share%

Comments

Labels

2,7% 1,8% ThelabelssharegrewduetotheaddiHonofwetgluelabelstotheexisHngself-adhesivelabelcapacity.

Tissue

3,4% 1,9% Revenueisnowincludedforsixmonthsasopposedtofourmonthsinthepriorperiod.

Showedstronggrowth,revenueincreased63,9%toR127,1million(2015:R77,5million).

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DeliveryandinstallaHonoftheaddiHonal)ssuemillandequipmentunderway.

InstallednewpackaginggravurepressatCapeTownplantenhancingprintonpackagingcapability.

Diversifiedproductsgainedmarketsharethroughretailclientuptake.Newseniorsalesappointmentswillassistinexpandingdiversifiedfootprint.

Acquisi)onofDigitalPrintSolu)onsofon1May2015.

R19millionpaidtoKurisaniInvestmentProprietaryLimitedfortheremainingminorityshareholdinginPaarlMediaPaarl(Pty)Ltd.

Business updates

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Introduction to new entity

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AmalgamaHonofPaarlMediaPaarlfacilityandDigitalPrintSolu)ons

(DPS)toformNovusPrintSolu)onswitheffectfrom1

November2015.

TheintegraHonwillresultinmajorimprovementsinefficiencieswithin

NovusHoldings.

ConsolidatedoperaHonwillofferacomprehensiverangeofsolu)onstopublishersandvariabledatasoluHonstoourclientsacrossSouthAfricaand

abroad.

Therestructuringisscheduledtotakeplaceinthefirstquarterof2016.

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Group financial position

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Property,plantandequipment 2161 2135

Othernon-currentassets 175 164

Currentassetsexcludingcash 1134 834

Cashandcashequivalents 259 389

TOTAL 3729 3522

Equity 2641 2567

Non-currentliabili)es 339 328

Long-termpor)onofborrowings 55 81

Currentpor)onofborrowings 61 71

Othercurrentliabili)es 544 368

Bankoverdra`s 89 107

TOTAL 3729 3522

30Sep2015Rm

31Mar2015Rm

Assets

Equity&

Liabili)es

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Income statement

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Revenue -

Costofsales

Grossprofit 14.7%

Opera)ngandotherexpenses -18.4%

Opera)ngprofit 11.7%

Financeincome 140%

Financecosts -4%

Profitbeforetaxa)on 15.3%

Taxa)on -15.9%

Netprofitfortheperiod 15.1%

2083m2075m

Change%

1428m1505m

256m302m

12m5m

25m26m

2015HY 2016HY

654m570m

314m352m

339m293m

95m82m

244m212m

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Strong cash position remains

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2014Reviewed 2015Reviewed

6MONTHSENDED30SEPTEMBER

358m261m

-94m-65m

-79m-85m

184,5m111,3m

-57m-64m

1m0m

-36m-16m

0m-205m

-112m31m

282m39m

170m70m

Cashgeneratedfromopera)ons

Netpurchaseofproperty,plant,equipmentandintangible

Taxa)onpaid

Freecashflow

Acquisi)onofsubsidiaries,non-controllinginterest

Otherloansandreceivables

Netloanandfinancecostpayments

Dividendspaid

Netcashflow

Openingcashbalance

Closingcashbalance

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Strategy remains unchanged

Diversifica)oninlinewithGroup’sinherentstrengths.

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Expanding)ssueproduc)oncapacity.

Consolida)onandexpansionofwetgluelabels.

Lowgearing;highcashflowgeneraHontofund

expansionanddiversificaHon.

Coreprintmedia–produc)vityandefficiency

gainscoupledwithincreasedmarketshare.

Ac)velyseekinggrowththroughoutSub-SaharanAfrica.

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Current operating environment

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Lowereconomicgrowthforecasts.

ExchangeandinterestfluctuaHons.

ConHnuedstronggrowthinmarketsidenHfiedfordiversificaHon.

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Outlook

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Opera)ngprofitsinthesecondhalfoftheyearwillnotnecessarilybeinlinewiththefirstsixmonths.

EffortstoincreasetheGroup’searningsfromotherAfrican

territoriescon)nue.

Challengingmarket

condi)onsrequiresconHnued

riskassessmentandrefinedinvestmentdecisions.

Con)nuetodriveopera)onalefficiency.

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Investment proposition

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EntrenchedCustomerRela)onships

Diversifiedrevenuestreamsandproduct

offerings.

Soundfinancialbasefromwhichtogrowand

historyofsustainableearnings,strongcashflowgeneraHonandcashconversionwithlowfinancialleverage.

Strongmarketposi)oninastableindustrythatbenefitsfromoperaHonalleverage.

Worldclassfacili)es,technologyandoperaHngsystemsandnaHonwidelogisHcalanddistribuHon

excellence.

TrackrecordofgrowththroughacquisiHons,

greenfieldssitedevelopmentsandopHmisaHons.

Provenmanagementteamaidedbyhighlytrainedandskilledworkforce.

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Retailinsertsandcatalogues

•  Brochures,leafletsandcatalogues•  Reportsandcalendars•  RetailinsertsforthemajorityofSouthAfricanretailers

Magazines

•  ABC-listedmagazines•  Trademagazines,•  Clubmagazines•  Free-to-marketmagazines

Newspapers

•  Dailynewspapers•  Weeklynewspapers•  Communitynewspapers

Booksanddirectories

•  WorkbooksfortheDepartmentofBasicEducaHon•  Hardandsoecoverbooksforleadingpublishers•  Telephonedirectories

Securityproducts

•  ElecHonballots•  ExaminaHonmaterialsandassessments•  OthersecurityrelatedprinHng

Labels

•  High-qualitylabelsforthewine,beer,spirit,cosmeHcs,petrochemical,foodandbeveragemarkets

Tissue

•  Oneandtwo-plytoiletrolls•  Kitchentowelsandservieges•  Jumbowadding

Overall product offering

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Questions

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Investor Relations contacts:

EdrichFivazand

CarrieNixon

+27215502500Investor.Rela)ons@novus.holdings