UNAUDITED ABRIDGED FINANCIAL RESULTS FOR SIX MONTHS ENDED 30 SEPTEMBER 2013

REGISTERED OFFICE: OK House, 7 Ramon Road, Graniteside, P.O. Box 3081, Harare, Zimbabwe. Tel: +263 4 757 311/9. Telefax: +263 4 757 028/39 Email: ok@okzim.co.zw

Revenue up 5.4% to $243.6 million EBITDA up 4.8% to $9.6 million Profit for the period stable at $4.8 million Earnings per share 0.43 cents versus 0.47 cents in prior year Interim dividend of 0.20 cents per share
CHAIRMAN'S STATEMENT The general economic slowdown, reported on at the end of the last financial year, worsened in the current reporting period. Post-election uncertainty over policy direction coupled with very low foreign direct investment inflows resulted in increased liquidity constraints. Additionally, the economy has been adversely affected by reduced manufacturing capacity utilisation, low prices on exported commodities and increased unemployment. Prices of goods and services have remained stable as indicated by the year-on-year inflation of 0.86% reported at the end of September.

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 30 Sep 2013 US$ Unaudited 243,622,804 1,222,763 (203,626,914) (15,991,054) (2,554,754) (405,000) (15,725,517) (11,439) 6,530,889 (1,698,031) 4,832,858 30 Sep 2012 US$ Unaudited 231,184,483 (2,676,505) (188,899,348) (13,744,477) (1,912,609) (360,000) (16,729,479) (395,382) 6,466,683 (1,607,137) 4,859,546

Financing activities Dividend paid Increase in borrowings Proceeds from share options exercised (Increase)/decrease in short-term loan Net financing (utilised)/raised Increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period

(4,506,600) 2,500,000 1,749,369 (23,024) (280,255) 267,524 15,625,203 15,892,727

(3,523,237) 5,000,000 363,576 36,108 1,876,447 (4,105,581) 11,723,422 7,617,841

Revenue Changes in trade inventories Merchandise and consumables used Employee benefit expense Depreciation expense Share option expense Net operating expenses Finance costs Profit before taxation Taxation (note 4) Profit for the period Other comprehensive income Fair value adjustment on available for sale equity investments Total comprehensive income for the period Weighted average number of ordinary shares in issue:

8 4,832,866

2,674 4,862,220

1,129,243,008 1,034,549,512 0.43 0.43 5.67 0.47 0.47 4.79

Share performance - cents : attributable earnings basis For the reasons previously reported, we continue to import most products although we : headline earnings basis support the local manufacturers and suppliers wherever good quality and competi: net asset value tively priced local products are available. Imported goods are procured and sold in the main in United States Dollars and pricing is therefore largely unaffected by fluctuations in the South African Rand. CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT Operating in the environment outlined above, the Group achieved limited growth in revenue but returned profits virtually identical to those reported this time last year. Whilst the gross margin held, operating costs increased, in part due to expansion initiatives (including the setting up of a financial services operation) which required more employees to man the additional facilities. Returns from these facilities will be realised later in the year. Two new shops were opened since the start of the current financial year, namely OK Wynne Street and OK Chitungwiza. The OK Express branch at Rezende Street was closed on the 31st July as its dimensions were sub-optimal for provision of the offering expected by the customer. Bon Marche Eastlea relocated to a larger store in the same business centre, a move which has resulted in increased sales through that branch. GROUP PERFORMANCE Revenue generated for the half year grew by 5.4% to $243.6 million from $231.2 million for the same period in the prior year. Profit before tax was $ 6.5 million compared to $ 6.5 million in the prior year, while profit after tax was stable at $4.8 million. Controls over shrinkage have continued to improve which assisted the Group in maintaining the gross margin at the same level as in the prior year. Total operating expenses increased by 5.9% to $34.7 million from $32.8 million in the prior year. The increase in overheads was partly as a result of escalating employment and occupancy costs as well as security charges. Depreciation expenses continue to increase as new equipment is installed in refurbished branches and as new shops are opened. Security measures to combat shrinkage are continually enhanced. DIVIDEND The Directors have declared an interim dividend of 0.20 cents per share payable on or about the 14th January 2014. OUTLOOK To enhance brand strength and improve sales growth, the Group will embark on full-scope refurbishment work at OK Waterfalls, OK Houghton Park and OK Bindura and will carry out limited work at OK Gweru and OK Mutare. Two new OK stores will be opened during 2013 at Hwange and Mabvuku. The Board, management and staff will continue in their efforts, in a difficult operating environment, to reward the continued loyalty and support of our shareholders, suppliers and customers. D B Lake Chairman 14 November 2013 DIVIDEND ANNOUNCEMENT NOTICE is hereby given that on 14 November 2013 the Board of Directors declared an interim dividend (number 17) of 0.20 cents per share payable out of the profits of the Group for the half year ended 30 September 2013. The dividend will be payable on or about 14 January 2014 in United States Dollars to shareholders registered in the books of the Group at the close of business on 20 December 2013. The share register of the Group will be closed from 21 December 2013 to 26 December 2013, both dates inclusive. By order of the Board H Nharingo Group Secretary Cash generated from operating activities Cash generated from trading (note 6) Working capital changes Cash generated from operating activities Net finance income/(costs) Taxation paid Net cash generated from operating activities Cash utilised in investment activities to maintain operations : Replacement of property, plant and equipment Proceeds from disposal of property, plant and equipment Investment to expand operations Additions to property, plant and equipment Decrease/(increase) in loans and other investments Net cash invested 30 Sep 2013 US$ Unaudited 49,627,580 400,000 252,536 50,280,116

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY 6 months to 6 months to 30 Sep 30 Sep 2013 2012 US$ US$ Unaudited Unaudited Shareholders' equity at the beginning of the period 56,390,405 47,514,911 Issue of shares 6,953,662 363,576 Recognition of share based payments 405,000 360,000 Translation reserve utilised through assets disposal Dividend paid (4,506,600) (3,523,237) Total comprehensive income for the period 4,832,866 4,862,220 Shareholders' equity at the end of the period 64,075,333 49,577,470

12 months to 31 March 2013 US$ Audited 47,514,911 399,047 656,976 (41,483) (5,600,017) 13,460,971 56,390,405

Assets Non-current assets Property, plant and equipment Goodwill Investments and other noncurrent assets Current assets Inventories Trade and other receivables Short-term loans Cash and cash equivalents Total assets Equity and liabilities Capital and reserves Issued share capital Share premium Share based payment reserve Investment reserve Revaluation reserve Non-distributable reserve Retained earnings Non-current liabilities Deferred taxation Long-term borrowings Current liabilities Trade and other payables Short-term borrowings Current tax liabilities Total equity and liabilities

30 Sep 2012 US$ Unaudited 42,005,495 400,000 238,045 42,643,540

31 March 2013 US$ Audited 45,952,028 400,000 252,606 46,604,634

SUPPLEMENTARY INFORMATION 1 Basis of preparation Statement of compliance The interim financial results have been prepared in accordance with International Financial Reporting Standards and in the manner required by the Companies Act. (Chapter 24.03). 2 Currency of reporting The Financial Statements are presented in the United States Dollars, which is the functional currency of the Group. 3 Significant accounting policies The principal accounting policies of the Group are consistent, in all material respects, with those adopted in the previous year. 6 months to 30 Sep 2013 US$ 1,309,020 39,271 4,872 344,868 1,698,031 2,000,000 2,500,000 4,500,000 6 months to 30 Sep 2012 US$ 939,616 28,188 2,081 637,252 1,607,137 5,000,000 5,000,000 10,000,000

47,845,901 45,115,504 49,166,820 8,176,490 8,943,228 4,875,322 48,076 44,886 25,052 15,892,727 7,617,841 15,625,203 71,963,194 61,721,459 69,692,397 122,243,310 104,364,999 116,297,031

115,464 26,084,452 2,414,501 54,050 5,626,819 9,820,399 19,959,648 64,075,333 6,762,009 2,000,000 8,762,009

103,783 18,739,683 2,778,608 39,604 4,565,238 9,861,882 13,488,672 49,577,470 5,439,283 5,000,000 10,439,283

103,841 19,142,413 2,009,501 54,042 5,626,819 9,820,399 19,633,390 56,390,405 6,417,141 6,417,141

4 Taxation Current income tax - Standard - Aids levy Withholding tax Deferred taxation movement Total 5 Borrowings Long-term Short-term

45,617,145 38,081,497 45,467,855 2,500,000 5,000,000 7,000,000 1,288,823 1,266,749 1,021,630 49,405,968 44,348,246 53,489,485 122,243,310 104,364,999 116,297,031

Investec Africa Frontier Private Equity Fund (IAFPEF) exercised their right to convert the $5 million loan to equity at the agreed price of 6.3 cents per share on 1 April 2013. The conversion yielded 79 365 079 shares of US$0.0001 each. The loan was disclosed as long-term in prior year. 6 Cash generated from trading Profit before taxation Adjusted for`: Finance costs Share option costs Employee share participation costs Depreciation expense Finance income Profit on sale of property, plant and equipment 6,530,889 11,439 405,000 92,860 2,554,754 (35,314) (23,094) 9,536,534 7 Capital expenditure 8 Capital commitments Authorised but not contracted for 6,275,838 11,671,046 6,466,683 395,382 360,000 1,912,609 (12,483) (5,904) 9,116,287 7,348,941 9,514,829

CONSOLIDATED STATEMENT OF CASH FLOWS

6 months to 30 Sep 2013 US$ Unaudited 9,536,534 (1,719,526) 7,817,008 23,875 (1,085,970) 6,754,913

6 months to 30 Sep 2012 US$ Unaudited 9,116,287 (6,429,750) 2,686,537 (382,899) (971,959) 1,331,679

(1,882,035) 68,626 (4,393,803) 78 (6,207,134)

(6,160,581) 40,484 (1,188,360) (5,250) (7,313,707)

9 Going concern The Directors have reviewed the prospects of the Group and are satisfied that the Group is a going concern and therefore continue to apply the going concern assumption in the preparation of these Financial Statements.

DIRECTORS: D. B. Lake (Chairman), V. W. Zireva* (Chief Executive Officer), A. R. Katsande* (Chief Operating Officer), A. E. Siyavora* (Finance Director), W. N. Alexander, F. T. Kembo, H. Nkala, M. T. Rukuni, M. Tapera, R. van Solt, M. C. Jennings (Alternate) *Executive