Press Releases

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

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

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