NAMPAK LIMITED
Registration number 1968/008070/06
Incorporated in the Republic of South Africa
Share Code: NPK        ISIN: ZAE000322095
Share Code: NPP1       ISIN: ZAE000004966
Share Code: NPKP       ISIN: ZAE000004958
LEI: 3789003820EC27C76729
(“Nampak” or “the group” or “the company”)


TRADING UPDATE AND TRADING STATEMENT FOR THE SIX-MONTH PERIOD
ENDED 31 MARCH 2025


TRADING UPDATE

The first half (“1H25” or “Current Period”) yielded a rewarding financial outcome
notwithstanding constrained consumer spending and the high base effect of the first half in
the prior period (“1H24” or “Prior Period”).

Revenue growth management disciplines were maintained with a sustained focus on margin
management, cost containment and efficiency improvements. The aforementioned translated
into top line growth, margin expansion, a trading profit increase of 22% and a 7% increase in
operating profit.

The 1H24 operating profit benefitted from a post-retirement medical aid gain of R290 million.
In 1H25, a pension fund surplus of R65 million and a R100 million interim settlement of an
outstanding Covid-19 insurance claim were recognised. The after-tax effects of the
aforementioned benefitted headline earnings but to a lesser degree in 1H25 than 1H24.

The group continues to make good progress in decreasing debt levels assisted in the Current
Period by the sale of Bevcan Nigeria, strong operating cash flow and lower interest costs but
partially offset by an increased investment in net working capital.

TRADING STATEMENT

Nampak is in the process of finalising its unaudited interim results for 1H25. In terms of the
JSE Listings Requirements, shareholders are advised that Nampak is satisfied that a
reasonable degree of certainty exists that the financial results for total operations for the
Current Period to be reported upon will differ by at least 20% from 1H24.

The change in headline earnings per share (“HEPS”), earnings per share (“EPS”) and loss per
share (“LPS”) for the group for the Current Period are expected to be as follows:
CONTINUING OPERATIONS

−   HEPS is expected to increase to between 5 450.0 cents and 5 850.0 cents compared to
    HEPS of 5 410.4 cents in 1H24, representing an increase of between 1% and 8%.
−   An EPS of between 5 600.0 cents and 6 200.0 cents is expected compared to EPS of
    5 296.8 cents in 1H24, representing an increase of between 6% and 17%.

HEPS and EPS have increased due to the strong trading performance and lower net finance
costs compared to the Prior Period.

TOTAL OPERATIONS

−   HEPS is expected to increase to between 6 400.0 cents and 6 900.0 cents compared to
    HEPS of 3 227.9 cents in 1H24, representing an increase of between 98% and 114%.
−   An EPS of between 34 000.0 cents and 36 000.0 cents is expected compared to LPS of
    1 123.5 cents in 1H24.

The disposal of Bevcan Nigeria has resulted in the recycling of a foreign currency translation
reserve relating to the deconsolidation of this entity thereby increasing EPS for total
operations.

The information contained in this trading statement has not been reviewed or reported on by
the company's external auditors. Nampak expects to release its interim results on or about
Friday, 23 May 2025.


Bryanston
16 May 2025
Sponsor: PSG Capital