CHOPPIES ENTERPRISES LIMITED

1 CHOPPIES ENTERPRISES LIMITEDCONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEP articulars 875,476 - - - - - 875,476 - - - 30,720 30,720 - 906,196 - - - - - - 906,196 87 - - - - - 87 - - - - - - 87 - - - - - - 87 (35,400) 14,625 - 14,625 - - (20,775)(8,904) - (8,904) - - - (29,679)4,498 - 4,498 - - - (25,181) 8,852,397 (6,979,223) 1,873,174 39,749 1,912,923 (1,773,975) (1,430,322) (56,416) (287,237)138,948 (53,889)10,930 95,989 (21,349)74,640 83,923 (9,283) 3,186 5,721 (2,535) 77,826 89,644 (11,818) StatedCapitalP 000 PreferenceSharesP 000 RetainedEarningsP 000 Foreign CurrencyTranslation ReserveP 000 Non ControllingInterestP 000 TotalP 000 CONSOLIDATED STATEMENT OF CHANGES IN EQUITYCONSOLIDATED STATEMENT OF FINANCIAL POSITION SEGMENTAL RESULTS Particulars 2,126,611 9,221 2,135,832 395,312 4,567 43,632 58,798 3,004 1,428,491 861,612 1,493,708 4,532 1,498,240 269,702 (23,323)34,258 13,525 (16,536)1,035,555 608,072 2,864,087 10,077 2,874,164 582,455 (56,528)72,008 33,386 (43,955)1,067,879 596,626 869,084 603 869,687 143,264 16,490 13,929 33,399 12,403 553,202 264,820 697,595 1,252 698,847 128,211 14,140 12,897 29,899 10,442 556,798 263,579 1,366,116 1,592 1,367,708 241,635 11,124 20,668 39,228 6,038 508,902 233,234 BotswanaP 000 South AfricaP 000 ZimbabweP 000 Other regionsP 000 TotalP 000 - - - - - - - - - - (30,720) - (30,720) (30,720)

2 - - - - - - (30,720)Treasury SharesP 000 5,761,505 (4,639,137) 1,122,368 29,324 1,151,692 (1,027,717) (832,730) (24,095) (170,892)123,975 (32,658) 1,519 92,836 (25,179)67,657 71,522 (3,865) 4,853 4,498 355 72,510 76,020 (3,510) (Unaudited)6 months ended31 December, 2017P ' 000(Unaudited)31 December 2017P ' 000(Unaudited)31 December 2016P ' 000(Audited)30 June, 2017P ' 000(Unaudited)6 months ended31 December, 2016P ' 000(Audited)12 months ended30 June 2017P ' 000 REGISTERED OFFICEUnit 5, Plot 115, Kgale Box 406, Gaborone, SECRETARIESG rant Thornton Business Services (Pty) Ltd. Acumen Park, Plot 50370, Fairgrounds Office Box 1157, Gaborone, 50371, Fairground Office Park, Gaborone BotswanaABRIDGED UNAUDITED GROUP FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2017 4,713,772 (3,798,231) 915,541 21,728 937,269 (847,705) (678,769) (29,952) (138,984)89,564 (18,498)2,221 73,287 (17,732)55,555 58,383 (2,828) 13,529 14,625 (1,096) 69,084 73,008 (3,924) 634,823 58,383 58,383 - (36,530) (36,530)656,676 25,540 25,540 - - - - 682,216 71,522 71,522 - (27,975) - (27,975)725,763 (1,393)(3,924) (2,828) (1,096) - - (5,317)(7,894)(6,455) (1,439) - - - (13,211)(3,510)(3,865) 355 4,304 4,304 - (12,417) 1,473,593 69,084 55,555 13,529 (36,530) (36,530)1,506,147 8,742 19,085 (10,343) - 30,720 (30,720) 1,514,889 72,510 67,657 4,853 (23,671) 4,304 (27,975)1,563,728 466,548 1,687 468,235 66,739 (42,129) 13,170 (26,041)(35,419)

3 473,137 200,752 236,136 620 236,756 37,649 (27,580)7,785 (19,843)(19,633)265,709 116,051 578,167 1,634 579,801 82,037 (70,609)18,239 (51,522)(52,000) 365,955 156,735 AssetsNon-current assets Plant and equipment Deferred taxation Investments in new projects GoodwillCurrent assets Inventories Investments Advances and deposits Taxation refundable Trade and other receivables Amounts due from related entities Cash and cash equivalentsTotal assetsEquity and LiabilitiesEquity Stated capital Preference shares Retained earnings Treasury shares Non controlling interests Foreign currency translation reserveNon - current liabilities Long term borrowings Deferred taxation Deferred lease liabilitiesCurrent liabilites Current portion of deferred lease liabilities Bank overdraft Trade and other payables Amounts due to related entities Taxation payable Current portion of long term borrowingsTotal equity and liabilitiesRevenueCost of salesGross profitOther incomeOperating incomeExpenditureAdministrative expensesSelling and distribution expensesOther

4 Operating expensesOperating profit before interestInterest costInterest incomeProfit before taxationTaxationProfit for the periodAttributable to:Owners of the companyNon-controlling interestsOther comprehensive incomeForeign currency translation differences from foreign operationsAttributable to:Owners of the companyNon-controlling interestsProfit and total comprehensive incomeAttributable to:Owners of the companyNon-controlling interestBasic earnings per share - ThebeHeadline earnings per share - ThebeBalance at 30 June 2016 (Audited)Total comprehensive income for the period (6 months)ProfitOther comprehensive incomeTransactions with OwnersDividend declaredBalance as at 31 December 2016 (Unaudited)Total comprehensive income for the period (6 months)ProfitOther comprehensive incomeTransactions with OwnersIssue of ordinary sharesPurchase of treasury sharesBalance as at 30 June 2017 (Audited)Total comprehensive income for the period (6 months)ProfitOther comprehensive incomeTransactions with OwnersEquity contribution in subsidiary Dividend declaredBalance as at 31 December 2017 (Unaudited)Six months ended 31 December, 2017 (Unaudited)Statement of profit or loss and other comprehensive Income Revenue.

5 Trading income Other incomeTotal segmental revenue Reportable segment gross profit Reportable segment profit/(loss) before taxation Reportable segment DepreciationReportable segment EBIDTAR eportable segment profit/(loss) after taxationStatement of financial position Reportable segment assets Reportable segment liabilitiesSix months ended 31 December, 2016 (Unaudited)Statement of profit or loss and other comprehensive Income Revenue : Trading income Other incomeTotal segmental revenue Reportable segment gross profit Reportable segment profit/(loss) before taxation Reportable segment DepreciationReportable segment EBIDTAR eportable segment profit/(loss) after taxationStatement of financial position Reportable segment assets Reportable segment liabilitiesYear ended 30 June 2017 (Audited)Statement of profit or loss and other comprehensive Income Revenue : Trading income Other incomeTotal segmental revenue Reportable segment gross profit Reportable segment profit/(loss) before taxation Reportable segment DepreciationReportable segment EBIDTAR eportable segment profit/(loss) after taxationStatement of financial position Reportable segment assets Reportable segment liabilitiesCOMMENTARY1.

6 Basis of preparation and accounting policiesThe abridged unaudited financial information for the six months ended 31 December 2017 is prepared in accordance with International Financial Reporting Standards ( IFRS ) (which includes IAS 34 Interim Financial Reporting), to the extent applicable to Interim Financial Reporting, and in the manner required by the Companies Act, 2003 ( of 2004) of accounting policies have been applied consistently to all periods in the financial information financial information is presented in Botswana Pula, which is considered the functional Performance highlights compared to half year ended 31 December 2016 Revenue up by 22% to P billion Gross profit up by 23% to P billion 33 new stores were added during the period; total number of stores now 235 Total retail space up by 17% to 340 973 Sq. m Commenced operations in Mozambique and Ottapathu(Chief Executive Officer).. Mogae (Chairman)Gross profit23%Revenue22%PAT22%EPS21%ASSET VALUE18%Retail space17%HEPS19%Store count33 Net cash flows generated from operating activitiesNet cash flows used in investment activitiesNet cash flows (used in)/generated from financing activitiesNet movement in cash and cash equivalentsCash and cash equivalents at begining of the periodCash and cash equivalents at end of the period 243,358 (168,471) 42,727 117,614 52,086 169,700 332,044 (234,118) (17,362) 80,564 76,769 157,333(Unaudited)6 months ended31 December, 2017P ' 000(Unaudited)6 months ended31 December, 2016P ' 000(Audited)12 months ended30 June 2017P ' 000 211,657 (286,366) 99,392 24,683 52,08676,769 ParticularsCONSOLIDATED STATEMENT OF CASH FLOWS For and on behalf of the Board3.

7 Financial overview & review of operationsBotswanaBotswana contributed 40% to Group revenue. Despite the subdued economic environment in the country, we maintained our market share and continued to improve our efficiencies. Segmental revenue increased by 6% and EBITDA by 11% compared to the half year ended 31 Dec 16 (herein after referred to as corresponding period).EBITDA33%South AfricaSignificant improvement in the North West stores resulted in like for like revenue growth of 43%. This growth has brought us to profitability in this region and we expect this trend to continue in the second half of FY 2018. Segmental revenue increased by 43% and EBITDA by 335% compared to the corresponding period. In KZN, CHOPPIES acquired a further 8 stores effective from 1 November 2017. Increased benefits of scale and other efficiencies will improve further as we expand our footprint in this region. ZimbabweWe continue to perform better in this market, in spite of depressed economic conditions.

8 Revenue grew by 25% and EBITDA by 12% compared to the corresponding period. Other regionsThe opening of new stores and distribution centres in other regions is in accordance with strategies adopted by the board. In the six month period 3 stores were added in performance improved in other regions but we are yet to achieve DividendThe company has a policy of declaring dividends once a year based on the annual Delay in publication of results for the six months ended 31 December 2017 Shareholders are referred to the announcement released on the Stock Exchange News Service and X News on 23 March 2018. The release of the results for the period, which was originally scheduled for 21 March 2018, was delayed after the board of directors instructed management to perform more detailed procedures on verification and valuation of inventory in conjunction with the company s external auditor, process was completed during April 2018.

9 No material issues were identified and the additional procedures did not result in any changes to the financial stores3 DCs1 Production Plant1 Store1 Store11 Storesmargin Dec 15 Dec 16 Dec- Profit after taxHEADLINE EARNINGS PER SHARE COMPUTATIONB asic EarningsRemeasurementsProfit on disposal of assetTax ImpactHeadline EarningsNumber of shares for basic earningsWeighted Average Number of SharesBasic EPS ThebeHEPS Thebe71 522 (2 272)59469 8441 303 628 3411 303 628 2,299,262 17,813 2,317,075 517,053 113,908 56,199 184,748 87,669 1,478,033 1,041,951 2,286,333 15,324 2,301,657 479,979 110,050 44,855 165,779 81,282 1,478,862 843,075 4,044,027 26,446 4,070,472 967,047 212,002 92,294 321,064 164,557 1,478,828 920,080 5,761,505 29,324 5,790,829 1,122,368 92,836 126,930 250,904 67,657 3,932,863 2,369,135 4,713,772 21,728 4,735,500 915,541 73,287 99,795 189,360 55,555 3,336,924 1,830,777 8,852,397 39,749 8,892,145 1,873,174 95,989 203,209 342,156 74,640 3,421,564 1,906,675 1,874,559 1,206,087 105,267 46,651 516,554 1,547,005 1,006,479 3 93,638 2,045 238,043 19,051 187,746 3,421,564 1,514,889 906,196 87 682,216 (30,720) (13,211) (29,679)

10 670,695 557,546 38,298 74,851 1,235,980 5,988 110,977 994,055 1,499 9,370 114,091 3,421,564 1,835,754 1,182,159 68,043 79,022 506,530 1,501,170 947,306 3 67,276 - 258,665 6,913 221,007 3,336,924 1,506,147 875,476 87 656,676 - (5,317) (20,775) 519,015 453,000 - 66,015 1,311,762 2,882 51,307 1,102,510 15,182 13,299 126,582 3,336,924 2,009,010 1,248,729 125,950 119,813 514,518 1,923,853 1,305,735 3 100,266 1,875 317,987 3,805 194,182 3,932,863 1,563,728 906,196 87 725,763 (30,720) (12,417) (25,181) 652,245 530,848 38,283 83,114 1,716,890 8,845 36,849 1,474,065 12,609 28,437 156,085 3,932,863