Aspen Investor Presentation — December 2021

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Interim Results Presentation

For the six months ended 31 December 2021DISCLAIMER

We may make statements that are not historical facts and relate to analyses and other information based on forecasts of futur e results and estimates of amounts

not yet determinable. These are forward looking statements as defined in the U.S. Private Securities Litigation Reform Act of 19 95. Words such as “prospects”,

“believe”, “anticipate”, “expect”, “intend”, “seek”, “will”, “plan”, “indicate”, “could”, “may”, “endeavour ” and “project” and similar expressions are intended to identify

such forward looking statements but are not the exclusive means of identifying such statements. By their very nature, forward -looking statements involve inherent

risks and uncertainties, both general and specific, and there are risks that predictions, forecasts, projections and other forwa rd-looking statements will not be

achieved. If one or more of these risks materialise, or should underlying assumptions prove incorrect, actual results may be very different from those anticipated.

The factors that could cause our actual results to differ materially from the plans, objectives, expectations, estimates and int entions expressed in such forward -

looking statements are discussed in each year’s annual report. ​​

Forward looking statements apply only as of the date on which they are made, and we do not undertake other than in terms of t he Listings Requirements of the JSE

Limited, any obligation to update or revise any of them, whether as a result of new information, future events or otherwise. Any profit forecasts published in this

report are unaudited and have not been reviewed or reported on by Aspen's external auditors. ​CAUTIONARY REGARDING FORWARD -LOOKING STATEMENTS

RESTATEMENT OF THE GROUP SEGMENTAL ANALYSIS

The Group has revised its reportable segments to reflect the newly updated operating model which aligns to the way in which t he business is managed

and reported on by the Chief Operating Decision Maker (“CODM”).

The business segments which make up the Pharmaceutical segment have been revised as follows:​

»Commercial responsibility for Israel has been moved to Africa Middle East from Europe CIS and consequently the prior year num bers (December 2020:

R63 million and June 2021: R122 million) have been restated to reflect this segmental change.

The Group's financial performance has not been materially impacted by COVID -19 and no asset impairments have arisen as a consequ ence of COVID -19.

3Financial ReviewGROUP CFO INSIGHTS

EARNINGSGROUP CFO INSIGHTS

•Sales (CERⱡ) ↑ 10% and Expenses