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APNASPENAspen Pharmacare Hldgs15043-401 (-2.60%)

Aspen is in a closed period from 1st July 2026 until the publication of the annual results on the JSE SENS platform on the 2nd September 2026.

Financial

Aspen’s revenue soars to R19.3 billion

Johannesburg – JSE Limited listed Aspen Pharmacare Holdings Limited (APN), the ninth largest generic company in the world and Africa’s largest pharmaceutical manufacturer, has announced excellent results for the year ended 30 June 2013. Group Performance Revenue from continuing operations increased by 27% to R19.3 billion. Operating profit from continuing operations rose by 28% to R5 billion. Normalised headline earnings, being headline earnings adjusted for specific non-trading items, advanced 32% to R3.8 billion. Normalised diluted headline earnings per share from continuing operations increased by 31% to 836 cents. Total distribution of 157 cents per share comprising a cash dividend of 131 cents per ordinary share and a capital distribution of 26 cents per ordinary share. Stephen Saad, Aspen Group Chief Executive said, “While all business segments recorded substantial growth, the International business excelled with a superb performance driven by a combination of organic and acquisitive revenue growth.. The largest revenue contribution to the Group came from the Asia Pacific business while Latin America was the fastest growing customer geography.” South African Business In the South African business, revenue improved by 20% to R7.4 billion and operating profit before amortisation, adjusted for specific non-trading items (“EBITA”) increased 11% to R2.0 billion. Revenue in the Pharmaceutical division rose 20% to R6.2 billion driven by organic growth and a strong contribution from new product launches in the private sector. In the public sector expanding demand for antiretrovirals (“ARVs”) added to the growth momentum although the greater weighting of revenue from low margin ARVs was the largest factor in the contraction of margin percentages. The weakening of the rand and rising inflation in administered costs also put pressure on margins although this was partially relieved by gains in production efficiency and procurement savings. The Consumer division delivered an 18% increase in revenue with nutritionals being the biggest growth driver. Innovative new products, growing-up-milk and ready-to-feed infant milk were launched expanding Aspen’s offering in the nutritional sector. Capital expansion projects have continued according to plan at all of the South African sites. In Port Elizabeth, land was acquired immediately adjacent to Aspen’s site. Part of this land is already under construction with the commencement of the building of the high containment suite while the remaining land remains available for future projects. The upgrade of packing capabilities is also underway in Port Elizabeth. The expansion and enhancement of manufacturing capabilities is continuing at Fine Chemicals in line with the strategy to achieve greater vertical integration of this site with Group active pharmaceutical ingredient (“API”) demands. The projects underway in East London and at Clayville are nearing completion. Asia Pacific Business The region’s continuous record of growth since the business was established in this territory in 2001 continued with a gain of 26% in revenue to R7.6 billion and with EBITA increasing by 30% to R1.9 billion. Rand-denominated performance was enhanced by the relative strengthening of the local currencies. The Asia Pacific region was the largest contributor to revenue in the Group for the first time, accounting for 37% of total gross revenue. This was achieved despite the mandated price cuts in Australia imposed by existing legislation. Revenue growth was supported by acquired products and pleasing progress in the Asian territories. EBITA advances benefitted from the continuation of the project to source more competitive product costs including the migration of production to the Port Elizabeth site in South Africa. The newly established subsidiary in Malaysia commenced trade in July 2013 and a further subsidiary has been established in Taiwan. Distribution in Australia of the classic brands portfolio acquired by the Group from GlaxoSmithKline (“GSK”) in December 2012 and the infant milk products acquired by the Group from Nestlé in May 2013 have been successfully taken on. International Business The International business showed strong growth with revenue increasing 48% to R3.7 billion and EBITA rising 59% to R1.5 billion. Latin America showed the biggest advance where sales to customers in this territory climbed 53% to R1.6 billion. A combination of organic and acquisitive growth propelled the Latin American performance despite the impact of the currency devaluation in Venezuela. The global brands portfolio was an important contributor to the growth achieved in the International business and the margin improvement projects for these products continued to yield favourable outcomes. Contributions from certain territories in this business have also benefitted from relative currency strength against the rand. Sub-Saharan Africa Business Gross revenue in Sub Saharan Africa increased 26% to R2.1 billion driven by expanded promotional support. The negative growth in EBITA during the first six months was reversed with an increase of 16% in EBITA in the second six months bringing the result for the year to R252 million, an increase of 2%. Impending Transactions Aspen has undertaken extensive corporate activity over the past year and the following transactions are being progression by Group companies: The acquisition of an API manufacturing business, primarily in the Netherlands, from MSD for approximately €36 million plus the value of inventory, to be effective 1 October 2013. Further details appear in the SENS announcement of 27 June 2013. In a related agreement with MSD, Aspen has an option to acquire a portfolio of 11 branded finished dose form molecules covering a diverse range of therapeutic areas for approximately US$600 million. The most likely date for the acquisition of this portfolio through the exercise of the option is 31 December 2013. Further details appear in the SENS announcement of 27 June 2013. A binding, irrevocable offer submitted to GSK to acquire the Arixtra and Fraxiparine/Fraxodi brands worldwide (excluding China, India and Pakistan) together with the specialised sterile production site which manufactures these brands for approximately £700 million. In terms of the offer, the date of acquisition of the brands would be 31 December 2013 and the date of acquisition of the site would be 30 April 2014. Further details appear in the SENS announcements of 18 June 2013 and 24 July 2013. The acquisition of certain licence rights to infant nutritional intellectual property, net assets

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Aspen increases revenue to R9 billion

JSE Limited listed Aspen Pharmacare Holdings Limited (Apn), the ninth largest generic company in the world and Africa’s largest pharmaceutical manufacturer, has announced excellent results for the interim period ended 31 December 2012. Group Performance Revenue from continuing operations increased by 20% to R9.0 billion. Operating profit from continuing operations rose by 24% to R2.5 billion. Normalised headline earnings, being headline earnings adjusted for restructuring costs, transaction costs and foreign exchange movements on transaction accounting, advanced by 24% to R1.7 billion. Normalised diluted headline earnings per share was 23% higher at 379 cents. Stephen Saad, Aspen Group Chief Executive said, “The Group’s favourable results were achieved by a combination of organic growth, contributions from acquisitions and successful new product launches. There are initiatives underway to extend Aspen’s proud growth record in all business segments. ” South African Business The South African business maintained the favourable momentum from the second half of the prior year, raising revenue by 23% to R3.6 billion and improving operating profit before amortisation, adjusted for specific non-trading items (“EBITA”), by 14% to R960 million. Revenue in the Pharmaceutical division increased by 24%, buoyed by ongoing organic growth, positive performances from new product launches and a strong upswing in anti-retrovirals (“ARVs”) sold under the public sector tender. Higher priced raw materials due to the weakening Rand and a greater weighting towards low margin ARVs resulted in margins in the Pharmaceutical division tightening despite production efficiency gains. The Consumer division increased revenue by 17%, led by impressive advances from Infacare, Aspen’s leading infant milk formula brand. Consumer margins were also negatively affected by the higher costs of imports. Capital projects are underway at each of the Group’s South African manufacturing sites to add capacity and advance technologies available as part of Aspen’s enduring aim to lower cost of goods. The Aspen Board of Directors has recently authorised a new project for the construction of two high containment suites, one for hormonals and one for oncolytics, on the Port Elizabeth site. The suites are for oral solid dose products requiring containment due to the risks associated with long-term exposure to these drugs during manufacture. Asia Pacific Business The Asia Pacific business maintained its record of continuous growth, lifting revenue by 18% to R3.4 billion and growing EBITA by 29% to R949 million. Revenue growth was achieved in Australia, the dominant contributor to this territory, despite mandatory price cuts imposed by the regulator. A key growth driver was new products secured through acquisitions. Revenue from Aspen’s products in Asia also continued to grow. Margins widened as the programme of cost of goods savings produced additional benefits. The strengthening of local currencies relative to the Rand enhanced results. The consolidation and rationalisation of Australia’s manufacturing facilities progressed further with the decision reached to close the Baulkham Hills site. Once complete, all Australian manufacture will be concentrated on the Dandenong site. International Business The International business increased revenue by 22% to R1.8 billion and expanded EBITA by 33% to R604 million. The Latin American region was the greatest contributor to the revenue advancement due to a combination of organic and acquisitive growth. In line with Aspen’s objective of extending its footprint in Latin America, a subsidiary was established in Argentina during the period. In addition to the revenue growth achieved in this territory, EBITA was also lifted by improved margins delivered by the global brands portfolio. Sub-Saharan Africa business Gross revenue from Sub-Saharan Africa was up by 19% at R1.0 billion as greater promotional activity yielded positive outcomes. An even better performance was inhibited by political unrest in both Nigeria and Kenya, two leading markets in the territory. EBITA however declined 10% to R122 million as margins were pressured by an increased investment in sales representatives and regulatory support, relative currency weakness in the territory and by a shift in sales mix. Prospects The South African pharmaceutical business has the most comprehensive product offering in the country and leads the industry in both the private and public sectors. Focus will remain on extensive sales representation and promotional support driving consistent organic growth supplemented by regular new introductions to the market from the prolific product pipeline. Aspen will implement the 5.8% Single Exit Price increase granted by the Department of Health during March 2013, which will provide some relief to the margin pressure created by the weakening of the Rand and high-administered inflation. Aspen received a reduced share of the public sector ARV tender awarded recently and which has commenced on a phased basis. However, in achieving the largest allocation of the once-a-day triple combination, Tenofovir/Emtricitabine/Efavirenz, Aspen has secured supply of the product most favoured by clinicians as the first choice ARV treatment. Infant milk formula products are set to continue as the most important contributor to the performance of the South African Consumer division in the second half. The Asia Pacific business is expected to replace South Africa as the Group’s largest revenue generator by the end of the 2013 financial year as sales from the classic brands (a portfolio of 25 established pharmaceutical products purchased from Glaxosmithkline and distributed in Australia) add impetus to the second half performance. Aspen’s growing prominence in Australia and its unique offering spanning branded, generic and OTC medicines positions it well to outperform the market in this country. Demographic profile and regulator interventions limit growth prospects for the Australian market and Aspen is looking to build its influence in Asia to sustain the growth achievements of the Asia Pacific territory. Following the successful establishment of a subsidiary in the Philippines last year, Aspen will commence trade in Malaysia before the end of the financial year. Further countries in which Aspen can set up its own sales infrastructure in Asia are under consideration. Growth of the global brands portfolio and improved profit margins from this product range have been important drivers of the increased profit contribution from the International business. The Group is continuing to vigorously explore opportunities to expand the global brands portfolio by adding

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Aspen Trading Statement

APN – Aspen Pharmacare Holdings Limited – Trading statement Aspen Pharmacare Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 1985/002935/06) Share code: APN & ISIN: ZAE000066692 (“Aspen”) Trading statement Aspen shareholders are hereby advised that, diluted normalised headline earnings per share (“DNHEPS”) from continuing operations, headline earnings per share and earnings per share for the 6 months ended 31 December 2012, are expected to exceed those reported in the comparative period, ended 31 December 2011, within the following ranges: Measure Range Notes DNHEPS from continuing operations  21% to 25% 1  Headline earnings per share  15% to 19% 2 Earnings per share  5% to 9% 3 Notes: 1. DNHEPS from continuing operations comprises diluted headline earnings per share adjusted for transaction costs, restructure costs and foreign exchange movements on transaction accounting. DNHEPS is the primary measure used by management to assess Aspen’s underlying operating performance. 2. The growth in headline earnings per share has been diluted by the effect of an increase in the weighted average number of ordinary shares in issue as a consequence of the conversion of 17.6 million preference shares into an equivalent number of ordinary shares on 28 June 2012. 3. The growth in earnings per share has been diluted as a result of capital profits on the disposal of discontinued businesses and products in the prior year and the effect of an increase in the weighted average number of ordinary shares in issue as a consequence of the conversion of 17.6 million preference shares into an equivalent number of ordinary shares on 28 June 2012. The financial results on which this trading announcement is based have not been reviewed or reported on by Aspen`s external auditors. Aspen`s interim results for the 6 months ended 31 December 2012 are scheduled to be published on SENS on 7 March 2013. Durban 21 February 2013 Sponsor: Investec Bank Limited

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Aspen’s revenue increases by 23%

JSE Ltd listed Aspen Pharmacare Holdings Limited (APN), Africa’s largest pharmaceutical manufacturer, has announced pleasing results for the year ended 30 June 2012, extending its record of growth for a fourteenth consecutive year. Group Performance Revenue from continuing operations rose by 23 percent to R15.3 billion. Operating profit from continuing operations increased by 25 percent to R3.9 billion. Normalised headline earnings from continuing operations, being headline earnings from continuing operations adjusted for restructuring costs, transaction costs and a foreign exchange gain on transaction funding, increased by 22% to R2.9 billion. Normalised diluted headline earnings per share from continuing operations rose 22 percent to 636.2 cents. A capital distribution of 157 cents per ordinary share (2011: 105 cents) by way of a capital reduction payable out of share premium. Stephen Saad, Aspen Group Chief Executive said, “During the year Aspen increased its diversity in product offerings and geographic exposure. The Group’s positive performance was led by exceptional growth in the Asia Pacific business, while the International business and the Sub-Saharan Africa business also achieved strong gains. The South African business had a positive second half, but consistent with previously communicated expectations, showed negative growth for the year as a whole.” South African Business The South African business returned to growth in the second half, as projected. A number of well-documented once-off factors unfavourably influenced results, particularly in the first six months of the year. The effect of the difficult first half is evident in full year revenue being 2% lower at R6.2 billion and operating profit before amortisation, adjusted for specific non-trading items (“EBITA”), being down 9% at R1.8 billion. Revenue in the Pharmaceutical division was up 9% in the second half resulting in the full year revenue coming in flat at R5.2 billion. This creditable result was achieved against a backdrop of a strike, government procurement of anti-retrovirals (“ARVs”) from donors in preference to accessing the awarded tender and the two biggest products in the Pharmaceutical division, Seretide and Truvada, facing generic competition for the first time. These set-backs were mitigated over the course of the year through Aspen’s success with Foxair, the generic of Seretide and by the launch of Tribuss, the first generic once-a-day triple combination ARV in South Africa. Furthermore, with the depletion of the donor funds, the tender offtake regularised in the second half of the year. Profit margin percentages were reduced for the year, affected by energy costs and wage inflation rising considerably more rapidly than the 2.14% increase in the single exit price granted by the Department of Health. Lower pricing in the ARV tender also contributed to the margin squeeze. Fortunately Aspen managed to offset most of the margin pressure through efficiency gains in production. The Consumer division suffered a contraction in revenue of 11% to R1.0 billion. The major factor was the expiry towards the end of the 2011 financial year of the license with Pfizer for a range of infant milk products, which contributed approximately R250 million to revenue on an annual basis. Growth of over 20% in Aspen’s infant milk brand, Infacare, has been effective in reducing the impact of the reversal. The Group has continued to invest in capital projects to upgrade and expand production capabilities in Port Elizabeth and in East London. A major refurbishment of the active pharmaceutical ingredient facility at the Fine Chemicals business in Cape Town is also underway. Asia Pacific business The Asia Pacific business, bolstered by the acquisition of the Sigma pharmaceutical business in Australia in the second half of the 2011 financial year, delivered exceptional results. This region has increased its contribution to Group revenue from 23% to 37%. Revenue doubled to R6.0 billion and EBITA grew by 128% to R1.5 billion. The business acquired from Sigma has been fully integrated with Aspen’s pre-existing business in Australia. Synergies have been gained in the establishment of a single business platform. Further benefits have come through reduced cost of goods which have been realised by taking advantage of Aspen’s competitive manufacturing and procurement competencies. Aspen Philippines commenced trade during the year and has approximately 100 sales personnel actively deployed. International Business The International business recorded a 3% reduction in revenue to R2.5 billion, but nevertheless raised EBITA by 28% to R0.9 billion. Customer sales in Latin America increased 11% to R1.0 billion buoyed by strong performances in Brazil and Venezuela. In Mexico sales were flat, but revenue was sacrificed to third party distributors of global brands in the balance of the territory. The overall reduction in revenue in the International business was as a consequence of the transitioning of certain global brands to third party distributors and the elimination of low margin sales to third parties. Profit margins benefitted from the ongoing projects to reduce the cost of goods of global brands. Sub-Saharan Africa business In Sub-Saharan Africa, gross revenue increased by 27% to R1.7 billion and EBITA improved 40% to R248 million. Growth in profit was achieved by each of the three elements of the business. The GSK Aspen Healthcare for Africa collaboration advanced revenue strongly with increased representation and new product launches. The Shelys operation, based in East Africa, achieved excellent margin gains through improved business efficiency. Exports into the region also increased. Prospects Aspen has withstood the challenges of the last year and has remained the top supplier of medicines in South Africa. One in four prescriptions dispensed in the country in the private sector is for an Aspen product. The Group’s leadership position in the public sector was endorsed with the recent award of the oral solid dose tender with Aspen once again receiving the largest allocation of 25%. The benefits of a strong product pipeline will see increased growth momentum in the 2013 financial year. A number of legislative changes remain under consideration by the regulator, including international benchmarking and the capping of logistics fees. The timing and consequences of the resolution of these matters remain uncertain. The South African government’s policy decision to support domestic manufacturers in

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Aspen Trading Statement

APN – Aspen Pharmacare Holdings Limited – Trading statement Aspen Pharmacare Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 1985/002935/06) Share code: APN & ISIN: ZAE000066692 (“Aspen”) Trading statement Aspen’s shareholders are hereby advised that diluted normalised headline earnings per share from continuing operations, headline earnings per share (“HEPS”) and earnings per share, for the 12 months ended 30 June 2012, are expected to exceed those reported in the comparative period, ended 30 June 2011, by the following ranges: Measure Range Notes Diluted normalised HEPS from continuing operations 18% to 24% 1 HEPS 21% to 27% Earnings per Share 4% to 10% 2 Notes: 1. Diluted normalised HEPS from continuing operations comprises diluted HEPS from continuing operations adjusted for transaction costs, restructure costs and foreign exchange gains on transaction accounting. 2. The growth in earnings per share has been reduced as a result of capital profits on the disposal of discontinued businesses and products in the present year being lower than in the prior year. The financial results on which this trading announcement is based have not been reviewed or reported on by Aspen`s external auditors. Aspen`s audited results for the year ended 30 June 2012 are scheduled to be published on SENS on 12 September 2012. Durban 30 August 2012 Sponsor: Investec Bank Limited

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Aspen increases revenue by 31 percent

Johannesburg – JSE Ltd listed Aspen Pharmacare Holdings Limited (Apn), Africa’s largest pharmaceutical manufacturer, has announced pleasing results for the interim period ended 31 December 2011, once again proving Aspen’s resilience across its global businesses. Group Performance Revenue from continuing operations rose by 31 percent to R7.5 billion (R5.7 billion). Operating profit before amortisation from continuing operations adjusted for specific non-trading items (“EBITA”), improved by 32 percent to R2.2 billion (R1.6 billion) Diluted normalised headline earnings per share (DNHEPS) from continuing operations increased by 22 percent to 308.1 cents (253.3 cents). Growth in earnings was affected by higher funding costs on the debt raised to acquire the pharmaceutical division of Sigma Pharmaceuticals Limited in Australia (“the Sigma business”) in January 2011. Stephen Saad, Aspen Group Chief Executive said, “The Group’s strong showing for the period was the result of excellent performances across the offshore territories with Asia Pacific leading the way. The Asia Pacific region increased its contribution to Group EBITA from 8% to 34% in the current period.” South African Business Revenue in the South African business was 11% down at R2908 million with the Pharmaceutical division declining 9% and the Consumer division declining 19%. Despite the headline results, the underlying performance of the Pharmaceutical division was good. Annualised revenue growth measured by IMS at 31 December 2011 indicated Aspen’s generic products increased by 16.2% The contributing factors to the performance reversal were largely one-offs in nature and, where appropriate, mitigating actions have been taken which will benefit the business going forward. These factors have been well communicated and are as follows: The Pharmaceutical division’s two biggest products, Seretide and Truvada, both came under pressure from generic substitutes for the first time in the second half of the 2011 financial year; Offtakes under the antiretroviral (“ARV”) tender were significantly lower than expected during 2011 as the South African government used donor sponsored products rather than accessing the tender awarded; Aspen retained its leading stake in the recently awarded public health ARV tender which commenced in January 2011. Aspen has both the lower volume share of this tender and reduced pricing on the prior tender. Given the supply of donor funded stock to date, these sales decreases have not been mitigated by the anticipated increases from expanded coverage; The license with Pfizer for a range of infant milk products which had contributed revenue of approximately R250 million per annum to the Consumer division expired; and Production for most of July was lost due to a union led strike. EBITA was 17% lower at R841 million. Profit margins came under pressure due to reduced production volumes as a result of the poor ARV tender offtake, the cost of production lost through the strike, inflationary increases in wages and energy, as well as the weaker Rand. The revenue lost on the genericisation of Seretide has been recovered by Aspen’s own generic, Foxair. The December 2011 launch of Tribuss, the first generic triple combination ARV to market, provides the opportunity to regain lost revenue incurred on Truvada’s genericisation. The Consumer division performance was disappointing. It was hoped that securing the major portion of the public healthcare tender for infant milk formula would help offset the loss of the Pfizer license. However, volumes ordered by the state since the tender was awarded have been erratic, and sustainable demand has yet to be established. Investment in capital projects at the production facilities is ongoing. Major projects underway include adding tableting capacity in Port Elizabeth, moving liquids manufacture to East London and introducing new technologies in Cape Town. Asia Pacific Business As anticipated, the Asia Pacific business was the leading growth driver for the Group. Revenue of R2859 million is more than three times greater than the comparative period whilst EBITA has grown from R133 million to R736 million. The EBITA achieved in the past six months is 15% greater than that achieved in the full 2011 financial year. The acquisition of the Sigma business has clearly played a material role in the exponential growth recorded by the region. The successful merger of the Sigma business with the pre-existing Aspen business in Australia has been fundamental to this achievement. The merged business is operating as a single unified structure allowing the realisation of synergies and efficiencies. Together with the delivery of the first procurement savings, this has translated into a steady improvement in operating profit margins. The strong market position of the Australian business has assisted it in concluding a co-marketing agreement with Lilly for its market leading psychotic disorder product, Zyprexa, and the generic of the molecule, Olanzapine. The consolidation and rationalisation of the Australian facilities has continued. The Tennyson site has been sold. The Croydon and Noble Park sites are in the process of phased closure. Production is now centred at the Dandenong facility and supported by the Baulkham Hills facility. Expansion of Aspen’s presence in South East Asia is receiving attention from the regional management team. The newly established business in the Philippines is in full operation with close to 100 sales representatives deployed. International Business The International business increased revenue by 5% to R1 443 million and raised EBITA by 17% to R455 million. Latin America was a leading contributor to the growth with sales to customers in that region rising 23% while revenue in the Rest of the World territories remained unchanged on the prior year. The widening of profit margins can be attributed to a favourable position in the cycle of transitioning global brands to Aspen distribution as well as the realisation of the first savings in the global brands cost of goods reduction programme. Sub-Saharan Africa Gross revenue improved by 25% to R835 million and EBITA added 23% to R136 million in Sub-Saharan Africa. The primary driver in these positive results was the GSK Aspen Healthcare for Africa collaboration, which performed strongly in Nigeria and French West Africa. Prospects Although the South African business will continue to face the influence of unfavourable events in the second half of

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Aspen increases revenue by 29 percent to R12.4 billion

Johannesburg – JSE Ltd listed Aspen Pharmacare Holdings Limited, the leading pharmaceutical manufacturer in the southern hemisphere, has produced excellent results for the year ended 30 June 2011. GROUP PERFORMANCE: Revenue from continuing operations increased by 29% to R12.4 billion (R9,6 billion). Operating profit from continuing operations improved by 25% to R3.1 billion (R2.5 billion). Normalised headline earnings from continuing operations rose 29% to R2.4 billion (R1.8 billion). Diluted normalised headline earnings per share (NHEPS) from continuing operations grew by 20% to 523.3 cents (437.7 cents). A capital distribution of 105 cents (70 cents) per ordinary share by way of a capital reduction has been declared. Stephen Saad, Aspen Group Chief Executive said, “The Aspen results are a reflection of the Group’s efforts across all of our key geographies. We had stellar performances in Asia Pacific, Sub-Saharan Africa, Latin America and South Africa. The South African performance was particularly pleasing given the headwinds in the market, namely a 0% increase in selling prices, but cost increases in salaries, wages and electricity. This vindicates our strategic investment in manufacturing infrastructure. The acquisition of the Sigma pharmaceutical business has performed ahead of plan and has contributed to the improved performance in the second half of the year. Next year this impact will be for the entire period.” SOUTH AFRICA: Revenue from the South African business increased by 13% to R6.3 billion and operating profit grew 17% to R1.9 billion. The Pharmaceutical division led growth, increasing revenue by 15% to R5.2 billion. This was achieved despite its two biggest brands, Seretide and Truvada, coming under generic competition for the first time, as well as reduced pricing and lower than expected off takes in the new anti-retroviral (ARV) tender which commenced in January 2011. ARV tender volumes have been well below expected levels as Government has used substitute donor funded product. Aspen’s successful strategy to defend the Seretide molecule by launching its own generic, Foxair, has more than compensated for volume declines in Seretide. The Pharmaceutical division is fundamentally in good shape with a strong underlying growth rate. In particular, the Generic division continues to perform, fuelled by the industry’s strongest organic pipeline. This is further validated by Aspen retaining its 2011 Campbell Belman Confidence Predictor Results ranking as the leading pharmaceutical company in South Africa. Revenue from the Consumer division increased 3% to R1.1 billion in a slow retail market. The division responded to the fourth quarter loss of the Pfizer infant milk formula license, which generated annual sales of approximately R250 million. In response, Aspen launched Infacare Gold as a substitute product range as well as Melegi acidified, a specialist infant formula brand. Aspen participated in the Government tender for infant nutritionals for the first time and was awarded the vast majority of the volume of the products for which it competed. This three-year tender covers eight of South Africa’s nine provinces and will assist in closing the gap left by the Pfizer brands. The Group has continued to invest in its manufacturing capabilities in South Africa in order to increase capacity, enhance technical standards and improve efficiency. Projects are underway at the Port Elizabeth, East London and Cape Town production sites. Aspen’s production competitiveness continues to be validated by the successes achieved in recent tender awards by the Government for ARVs, tuberculosis, anti-biotics and infant nutritionals where the Group competed with manufacturers from across the world. SUB-SAHARAN AFRICA: The Group’s gross revenue in Sub-Saharan Africa advanced by 43% to R1.3 billion and operating profits almost tripled from R66 million to R182 million. A full year’s contribution (prior year 7 months) from the GSK Aspen Healthcare for Africa collaboration assisted in this substantial step-up in results. Wider margins have contributed toward improved performance of East African-based Shelys. INTERNATIONAL: The International business increased revenue by 56% to R5.6 billion. Operating profit before amortisation, adjusted for one-off non-trading items, grew 35% to R1.4 billion. The acquisition of the Australian-based Sigma business was completed with effect from 31 January 2011 for a purchase consideration of AUD 863 million. The addition of the Sigma business was the primary driver in the Asia Pacific region increasing revenue by 122% to R3.1 billion. The original Aspen Australia business also performed strongly, raising revenue by 33% to R1.7 billion. Synergies between the Sigma business and the Aspen Australia business are expected to yield cost of goods reductions from improved procurement and lower manufacturing costs achieved through the Aspen global network. Aspen’s Latin American businesses generated a 19% increase in revenue to R0.9 billion. Revenue from the Group’s businesses in the rest of the world was up 12% to R1.6 billion. The disposal of Onco Laboratories was completed in February 2011, realising a profit on disposal of R368 million. This was the largest contributor to profits from discontinued operations. FUNDING: Borrowings net of cash were R6.3 billion despite the R5.9 billion investment in the Sigma business, with gearing at 34%. PROSPECTS: During the forthcoming year, revenue and profit contributions from the Group’s International businesses are expected to exceed that of the South African business for the first time. It is anticipated that the Sigma business will lead growth in the Asia Pacific region. The Group’s pipeline for Australia has been further augmented by the conclusion of an agreement with Cipla, the leading Indian generic company, to work together for Aspen to launch Cipla developed products in Australia. Aspen’s representation in the region has taken a further step forward with the commencement of the process to incorporate a subsidiary in the Philippines. Demographics in South Africa continue to support growth in the utilisation of medicines that could be further accelerated by the introduction of the Government’s National Health Insurance programme. The South African Department of Health (“DoH”) is presently considering the promulgation of new regulations to implement a process of international benchmarking of originator pharmaceutical products and to cap the logistics fees paid in the distribution of pharmaceuticals. Aspen has been an active participant in the formulation of industry submissions

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Aspen increases revenue by 33 percent

Aspen increases revenue by 33 percent. Johannesburg – JSE Ltd listed Aspen Pharmacare Holdings Limited (Apn), Africa’s largest pharmaceutical manufacturer, has announced pleasing results for the interim period ended 31 December 2010. Group Performance: Headline earnings from continuing operations increased by 35 percent to R1.147 billion. Revenue from continuing operations rose by 33 percent to R5.990 billion (R4.519 billion). Operating profit from continuing operations improved by 28 percent to R1.614 billion (R1.260 billion). Headline earnings per share (HEPS) from continuing operations increased by 15 percent to 265.3 cents (230.8 cents). The rise in headline earnings per share was diluted by an increase in the weighted average number of shares in issue as a consequence of the issue of shares on 1 December 2009 in settlement of the transaction with GlaxoSmithKline (“GSK”) concluded on that date. Stephen Saad, Aspen Group Chief Executive said, “The South African pharmaceutical division’s consistently good performance ensured that Aspen retained it position as the leader in the South African pharmaceutical market. The successful integration of the GSK business has further contributed and Aspen is now also ranked first in the branded product segment. Aspen’s international and sub-Saharan Africa businesses also performed well, delivering increased revenue and operating profit across the Group”. South African Business The South African business increased revenue by 29% to R3.300 billion and improved operating profit by 23% to R0.996 billion. The pharmaceutical division led the growth in revenue raising sales by 36% to R2.682 billion. Consumer division sales were up 8% to R0.618 billion. Profit margins benefited from production efficiencies, procurement savings and the strength of the Rand. The higher insurance compensation received in the prior period inflated the comparative profit margin for that period. The pharmaceutical business grew ahead of the market in the private sector, increasing Aspen’s share as measured by IMS to 16.7%. Sales of the GSK products for the six months to 31 December 2010 were R463 million against R53 million from one month of sales in the prior period. In the recently adjudicated anti-retroviral (“ARV”) tender, Aspen was awarded 41% by value of the anticipated ARV requirements of the South African government over a two-year period. This validates the cost competitiveness of the Group’s production capabilities. There has been ongoing investment in the manufacturing capabilities of the Group in South Africa. Most capital projects are well advanced. The focus of these projects has been adding capacity, enhancing technical standards and improving efficiency. Sub-Saharan Africa Business Revenue in the sub-Saharan Africa business more than doubled from R279 million to R666 million due to the full period contribution from the GSK Aspen Healthcare for Africa collaboration. Operating profit followed a similar trend, growing from R41 million to R119 million. Performance at Shelys, Aspen’s 60% owned subsidiary in East Africa, improved on the unsatisfactory showing in the second half of the 2010 financial year. International Business The international business increased revenue by 39% to R2.423 billion. Revenue benefited by R600 million (2009: R108 million) from the inclusion of the brands and the German-based Bad Oldesloe production facility acquired from GSK in December 2009 for the full period. Asia Pacific revenue was up 28% to R957 million, Latin America revenue increased 20% to R599 million and revenue in the Rest of the World region rose 76% to R867 million. Operating profit before amortisation and once-off items was up 27% to R551 million. The AUD 900 million (approximately R6.3 billion) acquisition of the pharmaceutical business of Sigma, Australia’s largest listed pharmaceutical company, completed on 31 January 2011. Integration of this business with Aspen Australia is well underway and is progressing to plan. Prospects The South African pharmaceutical business has strengthened its position as the market leader over the past period. Performance in the second half of the year will however be affected by the reduced value of the recent ARV tender award. The Minister of Health has announced that no consideration will be given to an increase in the Single Exit Price before the end of 2011. The South African consumer business will be adversely affected by the ending in April 2011 of the Pfizer infant milk license agreement, which generated annual sales of approximately R250 million. Pfizer has taken the decision to enter the South African market itself following the acquisition of the infant milk franchise as part of its take-over of Wyeth. Aspen has expanded its own infant milk offering with the introduction of the Infacare Gold range in order to replace the Pfizer brands. The sub-Saharan Africa business is on a firm footing and the positive performance of the first half of the year should be maintained in the second half. The Asia Pacific region of the International business is set for strong growth as the Sigma pharmaceutical business is integrated into Aspen Australia. The earnings per share impact for this financial year is likely to be close to neutral due to the expensing of transaction fees, stamp duties and restructuring costs expected to exceed R100 million. In years thereafter the transaction is anticipated to be earnings accretive as synergistic benefits are realised. The International business will continue to transition products acquired from GSK to the Aspen global distribution network. Once complete, the Group will be well positioned to realise procurement and marketing opportunities with these brands. The Group remains well placed for growth into the medium term. The launch of new products from the extensive product pipeline will provide organic growth across all major markets. The expanded business in the Asia Pacific region is expected to provide further growth momentum. Latin America remains a core focus area for the Group as a region with great potential. Opportunities to add to the portfolio of global brands will be actively pursued. ends Issued by: Shauneen Beukes, SBC Tel: +27 (012) 661-8467 : Cell: +27 82 389 8900 On Behalf Of: Stephen Saad, Aspen Group Chief Executive Tel: +27 (031) 580-8603 Gus Attridge, Aspen Deputy Group Chief Executive Tel: +27 (031) 580-8605 Roshni Gajjar, Aspen Investor Relations Tel: +27 (031)

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Media Enquiries

Shauneen Beukes
Group Communications Consultant
+27 31 580 8600
+27 82 389 8900
sbeukes@aspenpharma.com

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