CONTENTS FINANCIAL REVIEW 5 OPERATIONS PRODUCT GROUPS 26 STORE DEVELOPMENT AND PERFORMANCE ANALYSIS 37 SUMMARY AND STRATEGIC OVERVIEW 43

AUDITED INTERIM RESULTS AND DIVIDEND DECLARATION DECEMBER

CONTENTS FINANCIAL REVIEW 5 OPERATIONS PRODUCT GROUPS 26 STORE DEVELOPMENT AND PERFORMANCE ANALYSIS 37 SUMMARY AND STRATEGIC OVERVIEW 43 FINANCIAL RESULTS 46

DISCLAIMER This presentation differs from the presentation available on the website and in the hand-out given to presentation participants as a result of industry sensitive information contained therein. The financial information pertaining to Cashbuild Limited s (Cashbuild s) results are exactly as published on SENS in terms of the JSE Limited s Listings Requirements. This presentation may contain certain "forward-looking statements" regarding beliefs or expectations of Cashbuild, its directors and other members of its senior management about Cashbuild s financial condition, results of operations, cash flow, strategy and business and the transactions described in this presentation. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The words "believe", "expect", "anticipate", "intend", "estimate", "forecast", "project", "will", "may", "should" and similar expressions identify forward-looking statements but are not the exclusive means of identifying such statements. Such forward-looking statements are not guarantees of future performance. Rather, they are based on current views and assumptions and involve known and unknown risks, uncertainties and other factors, many of which are outside the control of Cashbuild and are difficult to predict, that may cause the actual results, performance, achievements or developments of Cashbuild or the industry in which it operates to differ materially from any future results, performance, achievements or developments expressed by or implied from the forward-looking statements. Each member of Cashbuild expressly disclaims any obligation or undertaking to provide or disseminate any updates or revisions to any forward-looking statements contained in this announcement. 2 NATURE OF BUSINESS Mass retailer of building materials, home improvement and related products Offers a focused range of quality products at competitive prices Selling predominantly for cash Largest retail chain of building materials in southern Africa Currently 317 outlets and expanding (251 Cashbuild, 58 P&L Hardware and 8 Cashbuild DIY outlets) 3 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 1

FINANCIAL SUMMARY Revenue R5.4bn Operating profit R325m Headline earnings R249m Net asset value per share 7 303cents 6.0 5.0 4.0 3.0 2.0 1.0 0.0 Rbn 5% 13 14 15 16 17 400 300 200 100 0 Rm 10% 13 14 15 16 17 300 200 100 0 Rm 8% 13 14 15 16 17 80 70 60 50 40 30 20 10 0 Rand 15% 13 14 15 16 17 Compound Annual Growth Rate (CAGR) 2 year 9% 11% 16% 12% 5 year 10% 11% 11% 12% 4 2 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER

FINANCIAL REVIEW CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 5

INCOME STATEMENT STATUTORY PERIOD-ON-PERIOD R 000 Audited Dec (26 Weeks) Audited Dec 2016 (26 Weeks) % change Audited Jun (52 Weeks) Revenue 5 404 984 5 170 907 5 9 729 640 Gross profit % 25.1 25.4 25.5 Operating expenses 1 034 334 949 190 9 1 860 932 Operating expenses % 19.1 18.4 19.1 Operating profit 324 900 362 005 (10) 619 997 Operating profit % 6.0 7.0 6.4 Net financing income 26 951 21 142 27 37 029 Profit for the period 250 333 272 554 (8) 469 486 Earnings per share (cents) 1 092.2 1 189.0 (8) 2 047.7 Dividend per share (cents) 496 540 (8) 930 Weighted number of shares ( 000) 22 710 22 706 22 708 6 REVENUE BREAKDOWN % increase Cashbuild stores P&L Hardware stores R 000 FY 2018 FY Total Total New Existing* Total New Existing* Quarter 1 2 575 455 2 447 381 5 5 4 1 10 9 1 Quarter 2 2 829 529 2 723 526 4 2 3 (1) 22 16 6 1 st Half 5 404 984 5 170 907 5 3 3-16 12 4 Quarter 3 2 230 311 Quarter 4 2 328 422 Total 9 729 640 1 st 6 weeks trading since period end up 7% * All stores in existence prior to 1 July 2016 7 4 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER

SALES Growth: Q1: 5% Q2: 4% All stores 2018 2016 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Growth: Q1: 1% Q2: (1%) Excluding new stores 2018 2016 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun * 2016 has been smoothed for comparative 5 weeks vs 4 weeks 8 CUSTOMER TRANSACTIONS Growth: Q1: 2% Q2: 1% All stores 2018 2016 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Growth: Q1: (2%) Q2: (3%) Excluding new stores 2018 2016 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun * 2016 has been smoothed for comparative 5 weeks vs 4 weeks 9 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 5

AVERAGE BASKET SIZE Growth Q1: 3% Q2: 3% All stores 2018 2016 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Excluding new stores Growth Q1: 2% Q2: 5% 2018 2016 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun * 2016 has been smoothed for comparative 5 weeks vs 4 weeks 10 GROSS PROFIT AND EBIT MARGIN 28.0% 27.0% 26.0% 25.0% 24.0% 24.5% 5.4% 26.3% 7.3% * 7.0% 27.0% 6.3% 25.9% 25.7% 25.4% 25.3% 25.4% 25.1% 6.0% 8.0% 7.0% 6.0% 5.0% 23.0% 4.0% 22.0% 3.0% 21.0% 2.0% 20.0% 19.0% 1.0% 18.0% FY 2014 FY 2015 FY 2016 FY FY 2018 1HY 2HY HY EBIT margin 0.0% * Excludes BEE transaction 11 6 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER

SEGMENTAL DISCLOSURE Rm Dec Cashbuild South Africa Dec 2016 % Dec P&L Hardware South Africa Dec 2016 % Cashbuild Namibia, Lesotho and Swaziland Dec Cashbuild Botswana, Malawi and Zambia Total Group Revenue 4 271.3 4 140.3 3 583.9 501.0 17 321.1 317.9 1 228.7 211.7 8 5 405.0 5 170.9 5 Gross profit 1 110.8 1 085.5 2 115.9 95.5 21 77.3 75.8 2 55.2 54.4 1 1 359.2 1 311.2 4 GP % 26.0 26.2 19.8 18.9 24.1 23.8 24.1 25.7 25.1 25.4 Operating profit 278.6 310.3 (10) 18.9 20.2 (6) 22.4 22.4-5.0 9.1 (45) 324.9 362.0 (10) OP % 6.5 7.5 3.2 4.0 7.0 7.0 2.2 4.3 6.0 7.0 Capital investment 92.0 63.9 44 72.7 8.5 >100 13.6 13.8 (1) 8.7 4.7 85 187.0 90.9 >100 Dec 2016 % Dec Dec 2016 % Dec Dec 2016 % Revenue Dec Revenue Dec 2016 Operating profit Dec Operating profit Dec 2016 11% 6% 4% 10% 6% 4% 6% 7% 1% 6% 6% 2% 79% 80% 86% 86% South Africa (Cashbuild) South Africa (P&L Hardware) Namibia, Lesotho and Swaziland Botswana, Malawi and Zambia 12 SALES BY PROVINCE 5.6% % of Total sales 2.8% 2.5% 4.5% 20.0% 6.0% 2.2% 8.3% 10.2% 20.1% 5.7% 11.4% 5.9% 14.6% 3.8% 4.0% 2.9% 2.2% (1.7%) 34.0% 65 62 58 50 42 41 38 28 33 30 25 26 15 15 15 15 8 8 10 8 Limpopo Gauteng Mpumalanga Eastern Cape Countries KwaZulu-Natal North West Free State Northern Cape Western Cape Period-on-period sales growth 13 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 7

EXISTING BUSINESS TRADING R 000 Dec Dec 2016 % change Revenue 5 095 352 5 094 255 - Gross profit 1 285 912 1 295 843 (1) Gross profit % 25.2 25.4 Operating expenses 955 699 930 988 3 Operating expenses % 18.8 18.3 Operating profit 330 214 364 855 (9) Operating profit % 6.5 7.2 Existing business refers to stores that have comparative trading results for an entire prior financial period 14 OPERATING EXPENSES R 000 FY 2018 FY Existing business (237 Cashbuild and 41 P&L stores) 1 792 075 % change - 1 st Half 955 699 923 520 3-2 nd Half 868 555 New business (22 Cashbuild and 17 P&L stores) 68 857-1 st Half 78 635 25 669-2 nd Half 43 188 Total 1 860 932-1 st Half 1 034 334 949 189 9-2 nd Half 911 743 15 8 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER

OPERATING EXPENSES PEOPLE COST R million FY 2018 FY Existing business (237 Cashbuild and 41 P&L stores) 767.6 % change - 1 st Half 407.3 388.4 5-2 nd Half 379.2 New business (22 Cashbuild and 17 P&L stores) 22.3-1 st Half 26.9 8.8-2 nd Half 13.5 Total 789.9-1 st Half 434.2 397.2 9-2 nd Half 391.8 % of sales 8.0 7.7 FTE headcount 6 401 6 207 3 Increase for Cashbuild and P&L Hardware staff of 7.5% and 6.5%, respectively Benchmarks to ensure customer service standards are adhered to Continued focus on efficiencies 16 OPERATING EXPENSES DELIVERY EXPENSES R million FY 2018 FY Existing business (237 Cashbuild and 41 P&L stores) 111.5 % change - 1 st Half 54.8 55.1 (1) - 2 nd Half 56.4 New business (22 Cashbuild and 17 P&L stores) 3.1-1 st Half 4.0 1.0-2 nd Half 2.1 Total 114.6-1 st Half 58.8 56.1 5-2 nd Half 58.5 % of sales 1.1 1.1 Delivery expenses below benchmark level CPI growth expected in 2 nd Half 17 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 9

OPERATING EXPENSES ADVERTISING R million FY 2018 FY Existing business (237 Cashbuild and 41 P&L stores) 140.0 % change - 1 st Half 79.2 84.1 (6) - 2 nd Half 55.9 New business (22 Cashbuild and 17 P&L stores) 7.7-1 st Half 10.6 4.1-2 nd Half 3.6 Total 147.7-1 st Half 89.8 88.2 2-2 nd Half 59.5 % of sales 1.7 1.7 Continued focused micro advertising New store launch 18 OPERATING EXPENSES PROPERTY R million FY 2018 FY Existing business (237 Cashbuild and 41 P&L stores) 366.4 % change - 1 st Half 195.5 183.4 7-2 nd Half 183.0 New business (22 Cashbuild and 17 P&L stores) 12.1-1 st Half 18.3 3.7-2 nd Half 8.4 Total 378.5-1 st Half 213.7 187.1 14-2 nd Half 191.4 % of sales 4.0 3.6 Majority of P&L Hardware stores leased 19 10 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER

OPERATING PROFIT (EBIT) R 000 FY 2018 FY % change 1 st Half 324 900 362 005 (10) 2 nd Half 257 992 Total 619 997 8.0% 7.0% 6.0% 5.0% EBIT margin (% of revenue) 6.3% 5.8% 5.4% 5.2% 7.3% * 6.8% 7.0% 5.7% 6.0% 4.0% 3.0% 2.0% 1.0% 0.0% - FY 2014 FY 2015 FY 2016 FY FY 2018 * Excludes BEE transaction 1st Half 2nd Half 20 EARNINGS PER SHARE (EPS) STATUTORY period-on-period 5 Year CAGR = 11% 2 400 2 000 1 920 2 048 1 600 1 557 859 Cents 1 200 1 148 733 1 076 (8%) 800 547 400 601 824 844 1 189 1 092 - FY 2014 FY 2015 FY 2016 FY FY 2018 1st Half 2nd Half Total EPS 21 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 11

DIVIDEND PER SHARE (DPS) 1200 1000 1 001 930 800 712 488 390 Cents 600 528 336 (8%) 400 253 200 275 376 513 540 496-0 FY 2014 FY 2015 FY 2016 FY FY 2018 1st Half 2nd Half Total DPS Dividend cover remains 2.0 times Cashbuild Empowerment Trust R233 million to date 22 STATUTORY STATEMENT OF FINANCIAL POSITION R 000 Assets Audited Dec Audited Dec 2016 % change Audited Jun Property, plant and equipment 1 052 109 942 385 12 978 615 Intangible assets 433 017 396 946 9 397 015 Assets held for sale 4 477 5 169 (13) 4 345 Inventories 1 618 671 1 605 660 1 1 289 491 Trade and other receivables 138 294 171 223 (19) 122 462 Cash resources 1 039 081 1 001 842 4 801 420 Shareholders equity and liabilities Shareholders equity 1 849 898 1 615 642 14 1 682 976 Interest-bearing debt 1 643 24 891 (93) 2 243 Trade and other liabilities 2 307 658 2 317 850-1 768 942 Net asset value per share (cents) 7 303 6 370 15 6 642 23 12 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER

INVENTORY ANALYSIS Stock holding all stores (% growth) Stores stocked since December 2016 (13 Cashbuild and 13 P&L Hardware stores) Cashbuild P&L Hardware Group 5 24 8 Existing stores (8) (1) (7) Total (3) 23 1 Purchase inflation at 2% Continued focus on SOQ and slow moving stock Working capital days at period end Dec Jun Dec 2016 Inventory 79 85 83 Creditors 67 72 68 24 STATUTORY CASH FLOW R MILLION 1 600 1 400 W/Cap inflow: R176m >100% 503 27 (19%) 1 200 402 (312) (90) (19%) (82) 47% 1 000 (6%) (15) (122) 100% (73) 1 039 800 801 600 4% 400 200 0 Opening balance Jul'17 Operating profit (cash) Inventory Debtors Creditors Interest Dividends Taxation Fixed assets Business combinations Closing balance Dec'17 % change from December 2016 Inflow Outflow 25 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 13

14 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER

OPERATIONS PRODUCTS GROUPS CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 26

CEMENT SALES POCKETS Q1 Q2 Q3 W1 W4 W7 W10 W13 W16 W19 W22 W25 W28 W31 W34 W37 W40 W43 W46 W49 W52 2016 2018 27 CEMENT UNIT SALES PER SUPPLIER Dec Dec 2016 7% 5% 16% 3% 5% 21% 24% 32% 22% 24% 18% 23% AFRISAM PPC NPC SEPHAKU MAMBA OTHER 28 16 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER

TOTAL TIMBER SALES Q1 Q2 Q3 W1 W4 W7 W10 W13 W16 W19 W22 W25 W28 W31 W34 W37 W40 W43 W46 W49 W52 2016 2018 29 TOTAL BRICK SALES Q1 Q2 Q3 W1 W4 W7 W10 W13 W16 W19 W22 W25 W28 W31 W34 W37 W40 W43 W46 W49 W52 2016 2018 30 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 17

TOTAL ROOF COVERING SALES Q1 Q2 Q3 W1 W4 W7 W10 W13 W16 W19 W22 W25 W28 W31 W34 W37 W40 W43 W46 W49 W52 2016 2018 31 TOTAL OPENING SALES Q1 Q2 Q3 W1 W4 W7 W10 W13 W16 W19 W22 W25 W28 W31 W34 W37 W40 W43 W46 W49 W52 2016 2018 32 18 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER

TOTAL PLUMBING SALES Q1 Q2 Q3 W1 W4 W7 W10 W13 W16 W19 W22 W25 W28 W31 W34 W37 W40 W43 W46 W49 W52 2016 2018 33 TOTAL HARDWARE SALES Q1 Q2 Q3 W1 W4 W7 W10 W13 W16 W19 W22 W25 W28 W31 W34 W37 W40 W43 W46 W49 W52 2016 2018 34 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 19

TOTAL DECORATIVE SALES Q1 Q2 Q3 W1 W4 W7 W10 W13 W16 W19 W22 W25 W28 W31 W34 W37 W40 W43 W46 W49 W52 2016 2018 35 SALES PER WEEK ALL STORES - R MILLION Q1 Growth: 5% Q2 Growth: 4% Q3 Growth 1 st 6 weeks: 7% W1 W4 W7 W10 W13 W16 W19 W22 W25 W28 W31 W34 W37 W40 W43 W46 W49 W52 2018 2016 36 20 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER

CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 21

22 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER

STORE DEVELOPMENT AND PERFORMANCE ANALYSIS CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 37

CASHBUILD STORE DEVELOPMENT Total stores 215 15 200 222 9 213 232 11 221 242 9 233 251 10 241 June 2014 June 2015 June 2016 June December Existing Cashbuild stores New Cashbuild stores Refits and relocations 27 30 24 10 14 16 14 17 16 10 8 4 14 June 2014 June 2015 June 2016 June December 1st Half 2nd Half 38 P&L HARWARE STORE DEVELOPMENT Total stores 42 46 4 58 12 42 42 46 June 2016 June December Existing P&L Stores New P&L Stores GROUP SUMMARY 22 New Stores: 10 Cashbuild and 12 P&L Hardware 4 Relocations: Tzaneen, Kokstad, Thulamahashe and Steelpoort 10 Refurbishments 1 Closure: Port Shepstone 317 Stores: 251 Cashbuild, 8 DIY and 58 P&L Hardware 39 24 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER

NEW STORES HY2018 Cashbuild P&L Hardware Gauteng Alexandra Diepsloot Dobsonville Kwa Thema Square Roodekop Western Cape Delft Lesotho Butha Buthe Mpumalanga Casteel Zambia Kabwe Ndola LESOTHO Gauteng Alexandra Braamfisherville Limpopo Apel * Acquired stores Eastern Cape Butterworth* Hunters Retreat* Peddie* Queenstown Mthatha (5) Sprigg* Vulindlela* York* Chatham* Oxland* 40 STORE PORTFOLIO BY LOCATION Number of stores December (December 2016) Location Town Rural Township Metro 31 (29) Dec Stores 35% 31% 24% 10% 74 (68) 108 (95) Dec Sales 34% 30% 25% 11% 96 (91) Dec 2016 Stores Dec 2016 Sales 34% 32% 24% 10% 33% 30% 25% 12% 41 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 25

COMPETITOR LANDSCAPE 350 (350) 3 (3) 260 (245) 95 (93) 75 (78) 8 (7) 41 (43) 31 (31) 140 (140) 44 (44) 15 (15) 38 (37) 11 (9) 160 (160) (Jun : Store numbers) 42 26 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER

SUMMARY AND STRATEGIC OVERVIEW CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 43

THE SIX MONTHS AHEAD Political changes Competitive market Civil unrest Low growth environment Gross and operating margins Cashbuild remains one of southern Africa s largest retailers of quality building materials and associated products and continues to expand its footprint across both the Cashbuild and P&L Hardware brands 44 Thank you for your attendance and participation www.cashbuild.co.za Switchboard: +27 11 248 1500 Werner de Jager Chief Executive Etienne Prowse Finance Director Shane Thoresson Operations Director For any further Investor Relations questions please contact: Marlize Keyter Keyter Rech Investor Solutions mkeyter@kris.co.za +27 87 351 3810 45 28 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER

CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 29

30 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER

FINANCIAL RESULTS CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 46

FINANCIAL HIGHLIGHTS REVENUE (Rm) 5% OPERATING PROFIT (Rm) 10% 3 551 3 968 4 510 5 171 5 405 191 250 265 362 325 2013 2014 2015 2016 2013 2014 2015* 2016 *2015 Excluding BEE HEADLINE EARNINGS PER SHARE (cents) 8% NET ASSET VALUE PER SHARE (cents) 15% 600 797 1 090 1 189 1 098 4 799 5 389 5 786 6 370 7 303 2013 2014 2015* 2016 *2015 Excluding BEE 2013 2014 2015* 2016 *2015 Excluding BEE DIVIDEND PER SHARE (cents) 8% SPACE GROWTH* (stores) 9% 275 376 513 540 496 207 217 228 283 309 2013 2014 2015* 2016 *2015 Excluding BEE 2013 2014 2015 2016 *Excluding DIY stores 32 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER

SUMMARY CONSOLIDATED INTERIM INCOME STATEMENT AUDITED R'000 Six months ended 31 December Six months ended 31 December 2016 % Year ended 30 June (26 weeks) (26 weeks) change (52 weeks) Revenue 5 404 984 5 170 907 5 9 729 640 Cost of sales (4 045 750) (3 859 712) 5 (7 248 711) Gross profit 1 359 234 1 311 195 4 2 480 929 Selling and marketing expenses (894 962) (812 037) 10 (1 595 510) Administrative expenses (147 522) (138 296) 7 (278 953) Other operating expenses (1 428) (801) 78 (2 172) Other income 9 578 1 944 >100 15 703 Operating profit 324 900 362 005 (10) 619 997 Finance cost (1 024) (3 365) (70) (3 785) Finance income 27 975 24 507 14 40 814 Profit before income tax 351 851 383 147 (8) 657 026 Income tax expense (101 518) (110 593) (8) (187 540) Profit for the period 250 333 272 554 (8) 469 486 Profit attributable to: Owners of the company 248 036 269 963 (8) 464 991 Non-controlling interests 2 297 2 591 (11) 4 495 250 333 272 554 (8) 469 486 Earnings per share (cents) 1 092 1 189 (8) 2 048 Diluted earnings per share (cents) 1 091.6 1 188.3 (8.0) 2 046.7 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 33

SUMMARY CONSOLIDATED INTERIM STATEMENT OF COMPREHENSIVE INCOME AUDITED Six months ended 31 December Six months ended 31 December 2016 Year ended 30 June R'000 (26 weeks) (26 weeks) (52 weeks) Profit for the period 250 333 272 554 469 486 Other comprehensive income: Total movement in foreign currency translation reserve (FCTR) 2 822 (15 483) (20 833) Attributable to: Owners of the company 2 773 (14 621) (18 974) Non-controlling interests 49 (862) (1 859) Total comprehensive income for the period 253 155 257 071 448 653 Total comprehensive income attributable to: Owners of the company 250 809 255 342 446 017 Non-controlling interests 2 346 1 729 2 636 253 155 257 071 448 653 34 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER

ADDITIONAL INFORMATION AUDITED R'000 Six months ended 31 December Six months ended 31 December 2016 Year ended 30 June Net asset value per share (cents) 7 303 6 370 6 642 Net asset value per share (excluding treasury shares) 8 036 7 011 7 309 Ordinary shares ('000s): In issue 24 990 24 990 24 990 Weighted-average 22 710 22 706 22 708 Diluted weighted-average 22 722 22 719 22 719 Capital investment (Including business combinations) 186 982 90 926 193 271 Depreciation of property, plant and equipment 63 974 63 931 122 425 Amortisation of intangible assets 4 256 6 378 11 870 Capital commitments 259 668 293 998 303 380 Property operating lease commitments 1 905 706 1 436 346 1 656 394 Contingent liabilities 29 049 35 526 38 908 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 35

SUMMARY CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION AUDITED R'000 31 December 31 December 2016 30 June ASSETS Non-current assets 1 611 715 1 439 163 1 481 122 Property, plant and equipment 1 052 109 942 385 978 615 Intangible assets 433 017 396 946 397 015 Rent prepayments 90 095 79 769 80 328 Deferred income tax assets 36 494 20 063 25 164 Current assets 2 839 542 2 799 087 2 232 120 Assets held for sale 4 477 5 169 4 345 Inventories 1 618 671 1 605 660 1 289 491 Trade and other receivables 138 294 171 223 122 462 Prepayments 39 019 15 187 14 402 Cash and deposits 1 039 081 1 001 848 801 420 Total assets 4 451 257 4 238 250 3 713 242 EQUITY AND LIABILITIES Shareholders' equity 1 849 898 1 615 642 1 682 976 Share capital and reserves 1 824 909 1 591 965 1 659 768 Non-controlling interests 24 989 23 677 23 208 Non-current liabilities 203 559 199 582 198 469 Finance lease obligation 516 1 644 1 052 Deferred operating lease liability 150 534 126 558 137 051 Deferred income tax liability 39 331 36 905 37 480 Contingent consideration 13 178 34 475 22 886 Current liabilities 2 397 800 2 423 026 1 831 797 Trade and other liabilities 2 307 658 2 323 381 1 768 942 Finance lease obligation 1 127 1 169 1 191 Current income tax liabilities 89 015 76 398 61 664 Bank overdraft 22 078 Total equity and liabilities 4 451 257 4 238 250 3 713 242 36 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER

SUMMARY CONSOLIDATED INTERIM STATEMENT OF CASH FLOWS AUDITED Six months ended 31 December Six months ended 31 December 2016 Year ended 30 June Cash flows from operating activities Cash generated from operations 577 478 512 752 651 625 Interest paid (1 024) (1 898) (3 785) Interest received non-investing 370 282 Taxation paid (82 642) (101 129) (197 336) Net cash generated from operating activities 494 182 410 007 450 504 Cash flows from investing activities Net investment in assets (121 031) (83 244) (181 472) Business combinations (72 597) (5 740) Interest received 27 605 24 225 40 814 Net cash used in investing activities (166 023) (59 019) (146 398) Cash flows from financing activities Shares purchased by Cashbuild Trusts or subsidiary companies for share incentive schemes (2 561) Shares sold by The Cashbuild Share Incentive Trust 2 526 2 526 Finance lease payments (600) (540) (1 110) Dividends paid: Own equity (89 224) (110 933) (234 023) Non-controlling interests (565) (1 376) Net cash used in financing activities (90 389) (108 947) (236 544) Net increase in cash and cash equivalents 237 770 242 041 67 562 Cash and cash equivalents at beginning of period 801 420 749 239 749 239 Effect of exchange rate movements on cash and cash equivalents (109) (11 510) (15 381) Cash and cash equivalents at end of period 1 039 081 979 770 801 420 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 37

SUMMARY CONSOLIDATED INTERIM STATEMENT OF CHANGES IN EQUITY AUDITED R'000 Balance at 30 June 2016 Total comprehensive income for the period Dividends paid Shares sold by The Cashbuild Share Incentive Trust Recognition of share-based payments Balance at 31 December 2016 Total comprehensive income for the period Shares purchased by The Cashbuild Operations Management Member Trust Dividends paid Recognition of share-based payments Balance at 30 June Total comprehensive income for the period Dividends paid Recognition of share-based payments Balance at 31 December SUMMARY CONSOLIDATED INTERIM SEGMENTAL ANALYSIS AUDITED Group Six months ended 31 December Year ended 30 June South Africa Cashbuild business Six months ended 31 December Year ended 30 June R'000 2016 2016 Income statement Revenue 5 404 984 5 170 907 9 729 640 4 271 340 4 140 318 7 787 042 Operating profit 324 900 362 005 619 997 278 610 310 482 535 787 Statement of financial position Segment assets 4 451 257 4 238 250 3 713 242 2 919 915 3 172 813 2 407 381 Segment liabilities 2 601 359 2 622 608 2 030 266 1 793 586 2 104 550 1 509 869 Other segment items Depreciation 63 974 63 931 122 425 53 590 55 657 107 428 Amortisation 4 256 6 378 11 870 4 126 6 244 11 622 Capital investment 186 982 90 926 193 271 92 065 63 854 106 024 * Includes Namibia, Swaziland and Lesotho. 38 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER

Share capital Attributable to owners of the company Share premium Share-based payments reserve FCTR Retained earnings Noncontrolling interests Total equity 227 (275 384) 52 985 10 645 1 655 004 21 948 1 465 425 (14 621) 269 963 1 729 257 071 (110 933) (110 933) 2 526 2 526 1 553 1 553 227 (272 858) 54 538 (3 976) 1 814 034 23 677 1 615 642 (4 353) 195 028 907 191 582 (2 561) (2 561) (123 090) (1 376) (124 466) 2 779 2 779 227 (275 419) 57 317 (8 329) 1 885 972 23 208 1 682 976 2 773 248 036 2 346 253 155 (89 224) (565) (89 789) 3 556 3 556 227 (275 419) 60 873 (5 556) 2 044 784 24 989 1 849 898 P&L Hardware business Six months ended 31 December Year ended 30 June Other members of common monetary area* Six months ended 31 December Year ended 30 June Botswana, Malawi and Zambia Six months ended 31 December Year ended 30 June 2016 2016 2016 583 894 500 982 960 454 321 089 317 896 595 995 228 661 211 711 386 149 18 883 20 193 32 378 22 431 22 369 38 378 4 976 8 961 13 454 719 842 312 054 540 125 540 836 478 581 496 554 270 664 274 802 269 182 442 731 247 164 249 770 198 252 170 105 173 217 166 790 100 789 97 410 3 350 2 026 2 823 3 477 3 178 6 038 3 557 3 070 6 136 52 55 93 78 79 155 72 665 8 503 13 437 13 592 13 828 42 548 8 660 4 741 31 262 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 39

TO THE SUMMARY CONSOLIDATED INTERIM FINANCIAL INFORMATION 1. Basis of preparation. The summary consolidated interim financial statements are prepared in accordance with International Financial Reporting Standards ( IFRS ), the presentation and disclosure requirements of IAS 34 Interim Financial Reporting as required by the JSE Limited Listings Requirements, the SAICA Financial Reporting Guides as issued by the Accounting Practices Committee, Financial Pronouncements as issued by the Financial Reporting Standards Council and the requirements of the Companies Act of South Africa applicable to summary interim financial statements. The accounting policies applied in the preparation of the consolidated interim financial statements from which the summary consolidated interim financial statements were derived, are in terms of International Financial Reporting Standards and are consistent with those accounting policies applied in the preparation of the previous consolidated annual financial statements. There are three significant upcoming new accounting standards which could impact the Group s reporting. The following standards are effective for reporting periods commencing on or after 1 July 2018: IFRS 15 Revenue from Contracts with Customers IFRS 9 Financial Instruments The following standard is effective for reporting periods commencing on or after 1 July 2019: IFRS 16 Leases The Group will adopt the above standards and interpretations when they become effective. The Group has been holding internal workshops to determine the potential impact of the adoption of IFRS 15, IFRS 9 and IFRS 16 on the Financial Statements. IFRS 15 Revenue from Contracts with Customers replaces IAS 18 Revenue, and provides a single comprehensive model for revenue recognition based on the satisfaction of performance obligations and additional disclosures in respect of revenue. The initial assessment indicates that there is a change expected for pending customer deliveries and the classification and disclosure of our VIC customers' rebates. IFRS 9 Financial Instruments replaces IAS 39 Financial Instruments. The initial assessment indicates that the impairment allowance of receivables currently estimated on the incurred loss model will be estimated on an expected credit loss model. IFRS 16 Leases replaces IAS 17 Leases. This has introduced changes to lessee accounting, in particular, the requirement to recognise leases currently classified as operating leases on balance sheet. The initial assessment indicates that the present value of operating rental commitments will be recorded as a financial liability with a corresponding capitalised non-current asset on the Statement of Financial Position. The related amortised finance cost and non-current asset depreciation will be recorded in the Statement of Comprehensive Income, replacing the operating lease expenses currently recognised. Management is still in the process of assessing whether these changes will have a material impact to the Group. The interim financial statements have been prepared under the supervision of the Finance Director, Mr AE Prowse CA(SA), and approved by the board on 5 March 2018. 2. Independent audit by the auditor. These summary consolidated interim financial statements for the six months ended 31 December have been audited by PricewaterhouseCoopers Inc., who expressed an unmodified opinion thereon. The auditor also expressed an unmodified opinion on the consolidated interim financial statements from which these summary consolidated interim financial statements were derived. A copy of their unqualified audit report is available for inspection at the registered office of the company. 3. Reporting period. The Group adopts the retail accounting calendar, which comprises the reporting period ending on the last Sunday of the month (: 24 December (26 weeks); 2016: 25 December (26 weeks); June : 25 June (52 weeks)). 4. Earnings per share. Earnings per share is calculated by dividing the earnings attributable to owners of the company for the period by the weighted-average number of 22 709 554 ordinary shares in issue at period end (2016: 22 705 620 shares; June : 22 708 147). 40 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER

5. Headline earnings per ordinary share. The calculations of headline earnings and diluted headline earnings per ordinary share are based on headline earnings of R249.3 million (2016: R270.0 million; June : R464.4 million) and a weighted-average of 22 709 554 (2016: 22 705 620 shares; June : 22 708 147) shares and fully diluted of 22 721 970 (2016: 22 718 913; June : 22 719 432) ordinary shares in issue. Reconciliation between net profit attributable to the equity holders of the company and headline earnings: R 000 December 17 December 16 % change June 17 Net profit attributable to the owners of the company 248 036 269 963 (8) 464 991 Loss/(profit) on sale of assets after taxation 1 307 53 >100 (558) Headline earnings 249 343 270 016 (8) 464 433 Headline earnings per share (cents) 1 097.9 1 189.2 (8) 2 045.2 Diluted headline earnings per share (cents) 1 097.4 1 188.5 (8) 2 044.2 6. Acquisition of business. In August the Group acquired the business of Build it Hunters Retreat and in September acquired Buffalo Building Supplies for a combined consideration of R72.6 million with the intention that the businesses trade as P&L Hardware stores. These acquisitions are in line with Cashbuild s strategy for growing the P&L Hardware brand. Property, plant and equipment of R18.3 million, trademarks of R2.2 million, inventories of R17.2 million, trade and other receivables of R0.5 million, trade and other payables of R1.6 million, deferred tax of R1.0 million and goodwill of R37.0 million has been recognised at date of acquisition. These values approximate the fair values as determined under IFRS 3. The acquired businesses contributed revenue of R25.4 million and a net loss of R0.4 million to the Group for the period. Had a full six-month results from 1 July to 31 December been included in the Group interim financial statements, the total revenue and net contribution would have been R43.5 million and R1.1 million respectively. 7. Declaration of dividend. The board has declared an interim dividend (No. 50), of 496 cents (2016: 540 cents) per ordinary share out of income reserves to all shareholders of Cashbuild Limited. The dividend per share is calculated based on 24 989 811 (2016: 24 989 811) shares in issue at date of dividend declaration. Net local dividend amount is 396.80 cents per share for shareholders liable to pay Dividends Tax and 496 cents per share for shareholders exempt from paying Dividends Tax. Local dividend tax is 20%. Cashbuild Limited s tax reference number is 9575168712. Date dividend declared: Monday, 5 March 2018 Last day to trade CUM the dividend: Monday, 26 March 2018 Date to commence trading EX the dividend: Tuesday, 27 March 2018 Record date: Thursday, 29 March 2018 Date of payment: Tuesday, 3 April 2018 Share certificates may not be dematerialised or rematerialised between Tuesday, 27 March 2018 and Thursday, 29 March 2018, both dates inclusive. On behalf of the board Stefan Fourie Chairman Werner de Jager Chief Executive Johannesburg 5 March 2018 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 41

COMMENTARY Nature of business Cashbuild is southern Africa s largest retailer of quality building materials and associated products, selling direct to a cash-paying customer base through our constantly expanding chain of stores (317 at the end of this financial period which includes the eight DIY stores and 58 P&L Hardware stores). Cashbuild carries an in-depth quality product range tailored to the specific needs of the communities we serve. Our customers are typically home-builders and improvers, contractors, farmers, traders, as well as all other customers requiring quality building materials at the best value. Cashbuild has built its credibility and reputation by consistently offering its customers quality building materials at the best value and through a purchasing and inventory policy that ensures customers requirements are always met. International Financial Reporting Standards The Group is reporting its audited results in accordance with International Financial Reporting Standards ( IFRS ). Financial highlights Revenue for the period increased by 5%. Revenue for stores in existence prior to July 2016 (pre-existing stores 278 stores) remained the same while our 39 new stores since July 2016 provided the 5% increase. Selling price inflation was 3%. Gross profit increased by 4% in tough trading conditions with gross profit percentages decreasing from 25.4% to 25.1%. Operating expenses, including new stores, remained well controlled and increased by only 9% (existing stores 3% and new stores 6%). Notwithstanding this, the increase in revenue did not compensate for the increased expenses, resulting in the operating profit decreasing by 10%. Earnings per share and headline earnings per share both decreased by 8%. The effective tax rate of 29% for the period is similar to that of the previous period. Cash and cash equivalents increased by 4% to R1 039 million. Stock levels, including new stores, have increased by 1% with overall stockholding at 79 days (December 2016: 83 days) at period end. Net asset value per share has shown a 15% increase, from 6 370 cents (December 2016) to 7 303 cents. During the first half, Cashbuild opened 22 new stores (10 Cashbuild and 12 P&L Hardware stores), refurbished 10 stores and four Cashbuild stores were relocated. Cashbuild will continue its store expansion, relocation and refurbishment strategy in a controlled manner, applying the same rigorous process as in the past. Prospects Group revenue for the subsequent six weeks after half year end has increased by 7% on the comparable six week period. Management believe trading conditions will remain extremely challenging. This information has not been reviewed nor audited by the company s auditor. 42 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER

CORPORATE INFORMATION Directors: IS Fourie* (Chairman), WF de Jager (Chief Executive), HH Hickey*, AGW Knock (British)*, Dr DSS Lushaba*, AE Prowse, NV Simamane*, SA Thoresson, A Hattingh (*Non-Executive) Company Secretary: Corporate Governance Leaders CC Registered Office: 101 Northern Parkway, Ormonde, Johannesburg, 2091 PO Box 90115, Bertsham, 2013 Transfer Secretaries: Computershare Investor Services Proprietary Limited, Rosebank Towers, 15 Biermann Avenue, Rosebank, Johannesburg, 2196 Auditor: PricewaterhouseCoopers Inc. Sponsor: Nedbank CIB Investor Relations: Keyter Rech Investor Solutions CC (Incorporated in the Republic of South Africa) Cashbuild Limited (Registration number: 1986/001503/06) (Incorporated in the Republic of South Africa) JSE code: CSB ISIN: ZAE000028320 CASHBUILD AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 43

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