RESULTS PRESENTATIONfor the year ended 28 February 2013

• Performance highlights

• Financial results

• Strategy

• Prospects

• Building capability

- Brands- Logistics

- Group

- Manufacturing

2

PERFORMANCE HIGHLIGHTS

PERFORMANCE HIGHLIGHTS

• Strong results during a period of extreme margin pressure• 12th consecutive year of record turnover and profits• Exceeded four-year vision of doubling the size

of our business • Headline earnings per share increased 23%• Total dividends to shareholders 250 cents per share –

up 25%• Share price exceeds R90• Significant momentum achieved in building brand, logistics

and manufacturing capability • Overall brand performance good - 8.9% like-on-like

turnover growth

4

PERFORMANCE HIGHLIGHTS

• Opened 140 new restaurants and revamped 136• Rest of Africa gains traction - 45% growth in

system-wide sales• Concluded comprehensive Fit 4 Purpose business model

transformation project• Concluded ground breaking sports sponsorship

agreement with Varsity Sports – across six sporting codes

• Awarded 1st place and Overall Winner – Financial MailTop 100 Companies survey

• Awarded 5th place - Sunday Times Business TimesTop 100 Companies Awards

5

BUILDING GROUP CAPABILITY

2 key stakeholders

CONTEXT

• Preparing for another decade of growth

Getting closer to customersGetting closer to consumers

• Separated International business from South Africa• Created six decentralised SA regional centres

of excellence• Centralised all marketing

7

BUSINESS MODEL

International Operations

CorporateManufacturing

Central Office Marketing

SA Operations and Logistics

8

BUILDING BRAND CAPABILITY

SYSTEM–WIDE SALES GROWTH

11.2%

44.7%

13.1%

Domestic Rest ofAfrica

Total

10

LIKE-ON-LIKE SALES GROWTH

7.7%

28.3%

8.9%

Domestic Rest ofAfrica

Total

11

NEW RESTAURANTS OPENED

41

2420

1512

28

05

1015202530354045D

ebon

airs

Pizz

a

Stee

rs

Fish

away

s

Mug

g &

Bea

n

Wim

py

Emer

ging

Bra

nds

Total 140

12

FRANCHISE NETWORK

546 519

404

141 141 110

302

0

100

200

300

400

500

600St

eers

Wim

py

Deb

onai

rsPi

zza

Fish

away

s

Mug

g &

Bea

n

Wim

py U

K

Emer

ging

Bra

nds

Total 2 163

13

TRADING FOOTPRINT

Dubai 3

Kenya 13Tanzania 3

Malawi 4

Mozambique 3Mauritius 28

Swaziland 8Lesotho 3

4 Ivory Coast

8 Nigeria

27 Zambia

28 Botswana

27 Namibia

1 881 South Africa

110 UK

South Africa 1 881Rest of Africa 172United Kingdom 110

8 Zimbabwe

5 Sudan

14

BRAND HIGHLIGHTS

• Aggressive everyday value offering delivers double digit growth

• Solid like-on-like turnover performance –breakfast consumption growth fuelled by new entrants and aggressive pricing

• Trading format strategy continues to open new markets and fuel growth

• Growth in Rest of Africa surges, now accounts for 15.9% of brands total sales

15

BRAND HIGHLIGHTS

• Continues to record both strong organic and numeric growth, a function of increased category activity

• Intellectual property re-engineered

• Readiness for export progressing

• Artisan baking category gaining traction

16

BRAND HIGHLIGHTS

Strategy topursue growth in new markets is

progressing

17

BUILDING LOGISTICS CAPABILITY

GROSS REVENUE % GROWTH - LOGISTICS

23.020.4

15.8

9.5

16.4

Gauteng &Mpumalanga

KwaZulu Natal Western Cape Eastern Cape Free State

Total 19.5

19

LOGISTICS HIGHLIGHTS

• Commissioned Nelspruit logistics centre

• Relocated Bloemfontein logistics centre

• 9% increase in price of diesel and 16.5% increasein electricity tariffs

• Overall margin unchanged at 3.5%, anoutstanding achievement

20

BUILDING MANUFACTURING CAPABILITY

GROSS REVENUE % GROWTH - MANUFACTURING

23.9

-3.3

15.9

42.3

7.2

-12.2

15.1

MeatPlant

Bakery Sauces& Spices

WCP MeatPlant

WCPBakery

FruitJuice

Ice-Cream

Total 24.8*

* Includes Famous Brands Coffee Company acquisition22

MANUFACTURING HIGHLIGHTS

• Strong growth fuelled by soft serve, chicken fillet, beef patty, boerewors and lamb sausage volumes

• 16.5% increase in electricity tariffs and volatile beef prices

• Overall margin declined to 13.6% (15.3%) due to deliberate margin absorption in Meat Processing Plant

23

FINANCIAL RESULTS

SALIENT FEATURES

F 2013%

changeRevenue (Rm) 2 516 17

Operating profit (Rm) 466 13

Cash generated before changes in working capital (Rm) 503 11

Earnings per share (cents) 338 22

Headline earnings per share (cents) 339 22

Total dividends per share (cents) 250 25

Net debt / equity (%) 8 10 (py)

Dividend cover (times) 1.4 1.4 (py)

Return on equity (%) 36 35 (py)

25

INCOME STATEMENT

Rm F 2013 F 2012%

changeRevenue 2 516 2 156 17Cost of sales (1 463) (1 233)Gross profit 1 053 923 14Selling and administrative expenses (587) (510) 15Operating profit 466 413 13Net interest paid (4) (11)Profit before tax 462 402 15Taxation (131) (134)Profit for the year 331 268 24Adjustments (1) (1)Headline earnings 330 267 23Headline earnings per share (cents) 339 278 22Earnings per share (cents) 338 278 22

26

REVENUE (Rm)

1190

15491685

18782156

2516

0

500

1000

1500

2000

2500

3000

2008 2009 2010 2011 2012 2013

27

OPERATING PROFIT

217262

308358

413466

18.3

16.9

18.3

19.1 19.1 18.5

15.5

16.0

16.5

17.0

17.5

18.0

18.5

19.0

19.5

050

100150200250300350400450500

2008 2009 2010 2011 2012 2013

Rm %

28

STATEMENT OF FINANCIAL POSITION

Rm F 2013 F 2012 MoveAssetsProperty, plant and equipment 194 156 38Intangible assets 800 695 105Working capital 135 128 7

1 129 979 150

FundingEquity 1 000 840 160Net borrowings 81 82 (1)Deferred liabilities and current tax balances 48 57 (9)

1 129 979 150

29

CASH FLOW (Rm)

4185

-500

50100150200250300350400450500550600

Opening cash Closing cash

482Cash from operations

137Tax

223Dividends

162Capex (net)

4 Interest

88Funding

raised (net)

30

SEGMENTAL ANALYSIS

% of total F 2013 F 2012%

changeRevenue (Rm)Franchising – Domestic 20 495 440 12Supply Chain 76 1 919 1 614 19United Kingdom 3 83 82 1Corporate 1 19 20

100 2 516 2 156 17Operating Profit (Rm)Franchising – Domestic 64 300 265 13Supply Chain 35 161 141 14United Kingdom 1 5 7 (28)

100 466 413 13Operating Margin (%)Franchising – Domestic 60.6 60.2Supply Chain 8.4 8.7United Kingdom 6.5 9.2Group 18.5 19.1

31

PRODUCTIVITY AND MARGIN RATIOS

45.540.7 42.5 43.3 42.8 41.8

27.223.8 24.2 24.2 23.7 23.3

18.3 16.9 18.3 19.1 19.1 18.5

05

101520253035404550

2008 2009 2010 2011 2012 2013

Gross Profit Margin (%) Expense to Turnover (%) Operating Margin (%)

%

32

RATIOS

4.35.2

6.27.4

8.7

10.2

30.3

45.8

27.5

14.39.7 8.1

05101520253035404550

0

2

4

6

8

10

12

2008 2009 2010 2011 2012 2013

Net asset value per share NAV - (R) Debt/Equity (%)

NAVDebt/Equity %

33

STRATEGY

STRATEGY

BUILD GROUP CAPABILITY

• Execute and implement Fit 4 Purpose

BUILD BRAND CAPABILITY

• Unlock potential of recent acquisitions

• Launch Steers in Clapham, London

• Launch Debonairs Pizza, Mumbai• Leverage Varsity Sports and SA

National Hockey sponsorships• Leverage centralisation of

marketing• Open 208 new restaurants in

South Africa and 55 International35

STRATEGY

BUILD LOGISTICS CAPABILITY

• Re-locate and commission Port Elizabeth logistics centre

• Explore potential of new Polokwane logistics depot

BUILD MANUFACTURING

CAPABILITY

• Conclude take-on of all Famous Brands coffee roasting business

• Commission Coega Cheese • Integrate Famous Brands Great

Bakery Company and Famous Brands Choice Meats Company

36

PROSPECTS

PROSPECTS

• Constrained consumer spending

• Competitive climate will intensify

• Margin pressure will remain an industry “battle cry”

• Value, convenience and accessibility will continueto drive volumes

• Brands will win

• Rest of Africa has become the new “playground”

• Restructured for further growth

38

ANOTHER DECADE OF GROWTH

Our business is focused on building capability across

brands, logistics and manufacturing, providing a total

solution to our investment partners and consumers

39

RESULTS PRESENTATIONfor the year ended 28 February 2013

BRAND PORTFOLIO

41

BOARD OF DIRECTORS

Stanley Aldridge John Halamandres Kevin Hedderwick

Panagiotis Halamandaris Theofanis Halamandaris Periklis Halamandaris

Bheki Sibiya Hymie Levin Christopher Boulle

Santie Botha Darren Hele 42

SHAREHOLDER ANALYSIS FEBRUARY 2013

Coronation Life Managers

20.2%

Peter Halamandaris

11.1%

Theofanis Halamandaris

10.2%

Arisaig Africa Consumer Fund

9.7%

Periklis Halamandaris

8.0%

John Halamandres

5.5%

Enderle SA (Pty) Ltd

5.0%

Other30.3%

43

MACRO ENVIRONMENT

• Subdued growth in consumer spending

• Fiercely competitive

• Margin pressure a common denominator

44

SHIFTING CONSUMER PROFILE

• In 2004 the black middle class comprised 1.6 million people, now 4.2 million

• The spending power of black middle class is R400 billion while white spend is estimated at R380 billion

• Since 2004 black middle class disposable income has increased by 35%

Source: UCT Unilever Institute of Strategic Marketing

45

VALUE IS THE NEW BLACK

• Consumers have been trained to look for value

• Value is about price, quality, relevance and convenience

46

CONVENIENCE MATTERS (A LOT)

• The market no longer eats three meals a day

• Traditional three are degenerating into “nibbles and bites”

• Snacks account for one in five eating occasions

• Accessibility and speed are key

• “If it fits into your car cup holder, if you can eat it with one hand or even better, with two fingers” is the norm

47

BREAKFAST AND COFFEE (ALL THE TIME)

• Breakfast and coffee are key drivers of growth

• “All Day Breakfast” is the future

• Coffee drinkers are more discerning

• Coffee increasingly purchased as a “snack”

48

OPERATING PROFIT – DOMESTIC FRANCHISING

142186 204

235265

30054.8

62.0 62.5

60.960.2

60.6

48.0%

50.0%

52.0%

54.0%

56.0%

58.0%

60.0%

62.0%

64.0%

0

50

100

150

200

250

300

350

2008 2009 2010 2011 2012 2013

Operating Profit (Rm) Operating Margin (%)

64

62

60

58

56

54

52

50

48

Rm %

49

OPERATING PROFIT – SUPPLY CHAIN

61 6194

116141

161

8.1

5.7

7.8 8.4 8.7

8.4

0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

020406080

100120140160180

2008 2009 2010 2011 2012 2013

Operating Profit (Rm) Operating Margin (%)

109876543210

Rm %

50

OPERATING MARGINS BY DIVISION

54.862.0 62.5 60.9 60.2 60.6

18.3 16.9 18.3 19.1 19.1 18.510.9 9.6 10.1 11.3 9.2 8.4

8.1 5.7 7.8 8.4 8.7 6.50

10

20

30

40

50

60

70

2008 2009 2010 2011 2012 2013

Domestic Franchising Group

%

51

OPERATING MARGINS – SUPPLY CHAIN

12.4

9.6

11.8

15.3 15.313.6

2.1 2.4 3.0 3.0 3.5 3.5

02468

1012141618

2008 2009 2010 2011 2012 2013

Manufacturing Logistics

%

52

RATIOS

45.2

37.4 38.242.5 44.5 43.6

38.033.4

36.1 35.7 34.5 35.92.5

2.2 2.1 2.2 2.3 2.4

2.2 2.11.8

1.61.4 1.4

1.0

1.5

2.0

2.5

3.0

3.5

4.0

05

101520253035404550

2008 2009 2010 2011 2012 2013

RONA (%) ROE (%) Net Asset Turn (times) Dividend Cover (times)

Times%

53

CONTACT INFORMATION

Kevin HedderwickChief Executive +27 11 651 5812

Stan AldridgeGroup Financial Director +27 11 651 5902

Del-Maree EnglishInvestor Communications +27 83 395 8608

www.famousbrands.co.za

54