Why invest in Aspen?

We have a proud heritage dating back more than 160 years and we are committed to sustaining life and promoting healthcare through increasing access to our high quality, affordable medicines and products in more than 150 countries. Our commercial pharmaceutical focus is in the Regional Brands, Anaesthetics, Thrombosis, High Potency & Cytotoxic categories.

With a market capitalisation of approximately R117,9 billion as at 30 June 2018, Aspen is the largest pharmaceutical company listed on the JSE Limited (share code: APN).

The Group operates 23^* manufacturing facilities across 15^* sites and holds international manufacturing approvals from some of the most stringent global regulatory agencies. Our manufacturing capabilities are scalable to demand and cover a wide variety of product-types including injectables, oral solid dose, liquids, semi-solids, steriles, biologicals and active pharmaceutical ingredients.

^* Since the divestment of our Nutritionals Business to the Lactalis Group on 31 May 2019 as per the SENS announcements issued on 13 September 2018 and 3 June 2019.

QUICK FACTS

Market capitalisation

R117,9 billion^*

^*As at 30 June 2018

Manufacturing facilities

23^#

^# Since the divestment of our Nutritionals Business to the Lactalis Group

SITES ACROSS THE GROUP

13^#

^#Since the divestment of our Nutritionals Business to the Lactalis Group

NUMBER OF Continents

6

APPROXIMATE Employees

10 000

INVESTMENT PROPOSITION

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Strong market position Diversified geographies and product offering Proven track record Leverages on local knowledge and expertise Centralised Group activities facilitate synergies and mitigate pricing pressures Positive growth drivers Responsible corporate citizen Other considerations

Strong market position

One of the largest pharmaceutical companies in the southern hemisphere
Substantial presence in major developing markets such as Latin America, Russia, Eastern Europe, sub-Saharan Africa and South East Asia
Accredited manufacturing facilities that are scalable to demand
Vertical integration advantages for the manufacture of certain of Aspen’s leading global brands
The leading pharmaceutical company in South Africa
One of the top five pharmaceutical companies in Australia

Diversified geographies and product offering

Well positioned in both developing and developed territories with products distributed in more than 150 countries and an established presence in approximately 50 of these countries
Approximately 80% of revenues and EBITA are generated from territories outside of South Africa
We have grown into a leading specialty and branded multinational pharmaceutical company. Our core categories that receive our highest focus include Regional Brands, Anaesthetics, Thrombosis and High Potency & Cytotoxics
Targeted acquisitions of product portfolios in niche therapeutic areas which have a broad geographical footprint and which present value creation opportunities for the Group
Diverse manufacturing capabilities across 23 manufacturing facilities covering a wide variety of product types including injectables, oral solid dose, liquids, semi-solids, steriles, biologicals and active pharmaceutical ingredients
Diversification of geopolitical and currency risk

Proven track record

Leverages on local knowledge and expertise

Centralised Group activities facilitate synergies and mitigate pricing pressures

Positive growth drivers

Provider of high quality, affordable medicines and products to historically under-served markets
Exposure to faster growing developing markets
Expanding footprint in targeted strategic growth territories
Ongoing consolidation of production volumes and procurement efficiencies at strategic manufacturing sites will deliver competitive advantages to the Group
Capital investment in production technologies and capacities to harness synergies from recent acquisitions in the medium term
Strong cash generation enables reinvestment into the business

Responsible corporate citizen

Committed to pursuing the Group’s strategic objectives in a responsible and sustainable manner
Operates on an established foundation of strong corporate governance
Active participant in the United Nations Global Compact (“UN Global Compact”) initiative, applying the 10 Principles
Participant in the annual Carbon Disclosure and Water Disclosure Projects
Focused investment for the development of our human capital and empowerment of future leaders
A constituent of the FTSE/JSE Responsible Investment Index

Other considerations

Aspen’s shares have good trading liquidity, with an average daily trading volume of approximately 1,3 million shares for the 2016 financial year
Aspen’s executive directors are founders and material shareholders of the Group, ensuring alignment of shareholders’ and executives’ interests
Aspen operates in the pharmaceutical industry which is considered to be defensive in nature