Datatec Group

Unaudited results for the six months ended 31 August 2010

2

North

America

South

America

Africa

South Africa Head Office (Johannesburg)

Europe China

Australia

Asia

UK

Our Global Footprint

Westcon Group

Logicalis Group

Consulting Services Operations in over 40 countries

3

Datatec Group Highlights

• Revenue $2.1billion up 19%, strong sequential and comparative growth

• EBITDA $58m up 31%

• Underlying* earnings per share 15.8 US cents up 37%

• Stable gross margins

• Good recovery in the US and parts of continental Europe

• Expansion in Asia and Latin America

• Return of operational gearing and financial leverage

* Excluding goodwill and intangibles impairment, amortisation of acquired intangible assets, profit or loss on sale of assets and

businesses, fair value movements on acquisition related financial instruments and unrealised foreign exchange movements

4

Datatec Group Market conditions

• Continuation of growth which started in the latter part of last year

• US and continental Europe are recovering while the UK remains sluggish

• Asia, Latin America and the Middle East remain the most dynamic regions

• Return to dollar weakness in recent months may offer boost to IT sales

• Service Providers and Telecom operators have started to invest in larger capex projects

• Security software and solutions for cloud based services are the most vibrant sectors

5

Datatec Group Recent corporate developments

• Westcon SA acquisition of Biodata grows security portfolio in South Africa

• Logicalis acquisition of Touchbase Singapore, platform for Unified Communications skills in Asia

• Proposed acquisition of Comztek could create regional leadership position for Westcon in Africa

• Organic startup in Mexico for Westcon established, leading with Cisco

• Completion of $200 million HSBC European financing considerably increases flexibility

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Datatec Group

• Revenue up 19% to $2.13 billion (H1 10: $1.80 billion)

• EBITDA up 31% to $58.5 million (H1 10: $44.6 million)

• Underlying* EPS up 37% to 15.8 US cents (H1 10: 11.5 US cents)

• Stable gross margins

Financial performance summary

* Excluding goodwill and intangibles impairment, amortisation of acquired intangible assets, profit or loss on sale of assets and

businesses, fair value movements on acquisition related financial instruments and unrealised foreign exchange movements

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Datatec Group

Revenue

Business stream analysis

Consulting & Services

Distribution

ICT Solutions

Increased profit contribution from ICT Solutions

Gross profit

$142m 7%

$1619m 76%

$372m 17%

$52m 18%

$159m 57%

$71m 25%

H1 2011 H1 2011

7%

76%

17%

18%

60%

22%

H1 2010 H1 2010

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Datatec Group

H1 2010

Revenue % by geography

Increased contribution from Asia Pac

H1 2011

39%

38%

8%

7%

8%

North America

Europe

Asia Pac

Africa, India & Middle East (AIME)

Latin America

35%

37%

11%

7%

10%

9

Datatec Group

H1 2010

Gross profit contribution % by geography

North America

Europe

Asia Pac

AIME

Latin America

Increased contribution from developing markets

H1 2011

34%

37%

8%

7%

14%

34%

32%

13%

5%

16%

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Datatec Group Financial Performance

($m) H1 2010 H1 2011 Variance

Sales 1,798.7 2,133.0 19%

Gross margin 235.4 282.0 20%

Gross margin % 13.1% 13.2%

Operating costs 190.9 223.5 17%

Operating cost margin % 10.6% 10.5%

EBITDA 44.6 58.5 31%

EBITDA% 2.5% 2.7%

Depreciation 8.2 10.3 26%

Amortisation of intangible assets 7.6 8.1 7%

Operating profit 28.8 40.0 39%

Operating profit % 1.6% 1.9%

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Datatec Group Financial Performance

($m) H1 2010 H1 2011 Variance

Operating profit 28.8 40.1 39%

Net finance costs (5.6) (4.3) (21%)

Fair value movements on put option liabilities (6.4) (6.8) 6%

Profit before tax 16.5 29.0 76%

Underlying ** EPS (US cents) 11.5 15.8 37%

HEPS (US cents) excl. fair value movements on put option liabilities 8.5 12.5 47%

HEPS (US cents) 4.9 8.8 80%

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Datatec Group Cash flow ($m)

($m) H1 2009 H1 2010

EBITDA 44.6 58.5

Working capital changes 133.4 (257.8)

Non-cash items 5.9 7.2

Cash generated from / (utilised by) operations 183.8 (192.1)

Net finance costs paid (5.6) (4.3)

Taxation paid (7.7) (13.0)

Net cash inflow / (outflow) from operating activities 170.5 (209.4)

Net cash outflow from investing in subsidiaries (2.6) (0.1)

Net cash outflow from other investing activities (5.6) (16.0)

Net cash inflow / (outflow) from financing activities 0.9 (23.1)

Capital distribution to shareholders (22.0) (21.7)

Increase / (decrease) in cash and cash equivalents 141.2 (270.3)

Cash and cash equivalents at beginning of period 95.1 239.8

Translation differences on opening cash (4.6) (0.3)

Cash and cash equivalents at end of period 231.7 (30.7)

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Datatec Group Cash flow

• $192 million cash outflows from operations due to:

– Working capital expansion following strong revenue growth

– Prior year extended credit terms from suppliers normalised after 18 months of credit relaxation

– Refinancing by Westcon Europe to take advantage of vendor prompt pay arrangements

• New European accounts receivable invoice finance facility (Bank Overdraft)

• Prior European extended vendor financing arrangement (Accounts Payable)

14

Datatec Group Balance sheet summary ($m)

($m) FY 2010 H1 2011

Equity and Liabilities

Shareholder funds 667.9 666.6

Non-controlling interests 50.9 51.9

Non-current liabilities 53.4 56.4

Amounts due to vendors 52.8 50.6

Current liabilities 1,077.1 1,087.0

Assets 1,902.0 1,912.5

Non current assets

Goodwill 315.1 316.2

Other intangible assets 51.8 43.4

Other non-current assets 93.1 97.8

Current assets 1,442.1 1,455.1

1,902.0 1,912.5

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Westcon Group Highlights

• H1 revenues increase 19%

• Gross margins reduced from 10.3% to 9.8% as a result of the large increase in sales volume

• Operating expenses decreased from 7.5% to 7.2% of sales

• EBITDA rose 13% while operating profit was up 15%

• Company in early stages of implementing new ERP system (SAP)

• Americas region divided into North America and Latin America regions

• Westcon Emerging markets now consolidated as 5th region, AIME (Africa, India & Middle East)

• HSBC European refinancing completed in July

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Westcon Group Financial performance summary

($m) * H1 2010 H1 2011

Sales 1, 365.9 1,619.1

Gross margin 140.2 159.4

Gross margin % 10.3% 9.8%

Operating costs 102.2 116.4

Operating cost margin % 7.5% 7.2%

EBITDA 38.0 43.0

EBITDA% 2.8% 2.7%

Operating profit 31.1 35.8

Operating profit % 2.3% 2.2%

* Includes consolidation of AIME (formerly Emerging markets)

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Westcon Group Revenue % by geography (H1 2010 restated to include AIME)

H1 2010

Faster growth in parts of Asia, Latam and Middle East

H1 2011

38%

39%

10%

9%

4%

36%

38%

12%

9%

5%

North America (US & Canada)

Europe

Asia Pac

AIME ( formally Emerging)

Latin / S America

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Westcon Group Revenue % by vendor (H1 2010 restated to include AIME)

H1 2010

Cisco

Convergence

Security

Other

Vendor mix remains stable

H1 2011

53%

16%

16%

15%

55%

16%

15%

14%

20

Westcon Group Revenue % by customers

H1 2010

Reseller

System Integrator

Service Provider

Increase in large projects with Service Providers

H1 2011

60%

28%

12%

61%

25%

14%

21

Westcon Group Gross margin %

H1 2010

H1 2011

8.5

15.9

10.5

13.3

11.1 10.3

8.5

16.3

9.5

11.2 11.1

9.8

0

2

4

6

8

10

12

14

16

18

North America Latin America Europe Asia Pac AIME Total

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Westcon Group Historical quarterly sales ($m)

Includes intercompany sales and excludes AIME revenues

743 789

686

616 607

671 692 692 733

777

0

100

200

300

400

500

600

700

800

900

Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2

FY 2009 FY 2010 FY 2011

23

Westcon Group EBITDA ($m)

Note: Central costs include infrastructure, systems and other global support costs

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3

13 10

2

-14

38

25

4

17

7

3

-13

43

-20

-10

0

10

20

30

40

50

North Americas Latin America Europe Asia Pac AIME Central Costs Total

H1 2010

H1 2011

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Westcon Group Consolidated balance sheet – Working capital

($m) H1 2010 H1 2011

Accounts receivable 504 590

DSO (days) 63 64

Inventory 234 270

Inventory turns 11.1x 11.3x

Accounts payable 585 455

DPO (days) 82 55

Current ratio 1.3 1.3

Net (debt) cash 136 (106)

Total headcount 1,844 2,049

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Westcon Group Future outlook

• More constructive recovery underway in some sectors

• Expecting to reach 6th successive quarter of sequential growth

• Seasonality of stronger second half

• Continue investments aimed at growing in Latam, Asia, Middle East and Africa

• Networking and security growth increasingly driven by data centre demands

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Logicalis Group Highlights

• Revenues up 22% to $479.2 million (11% on an organic basis)

• EBITDA up 32% to $21.8 million

• Annuity service revenues up 27%

• Gross margins improved to 23%

• Significant recovery in US operating performance

• Asia Pacific acquisition performing well

• Strong net cash position

• New data centre opened in UK and “Cloud” services launched in UK/US

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Logicalis Group Financial performance summary

($m) H1 2010 H1 2011

Sales 394.0 479.2

Gross margin 85.3 110.7

Gross margin % 21.6% 23.1%

Operating costs 68.8 88.9

Operating cost margin % 17.5% 18.6%

EBITDA 16.5 21.8

EBITDA% 4.2% 4.5%

Operating profit 8.3 11.4

Operating profit % 2.1% 2.4%

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Logicalis Group Revenue % geographic split

North America

Latin / S. America

UK

Germany

Asia Pacific

Increased revenues in Brazil and acquisition in Asia Pacific impacted mix

44%

21%

33%

2%

H1 2010 H1 2011

35%

26%

29%

2%

8%

30

Logicalis Group Revenue segmental split

Product

Professional Services

Maintenance & Managed Services

Revenue improvement product-led

77%

10%

13%

78%

8%

14%

H1 2010 H1 2011

31

Logicalis Group Revenue product vendor mix %

IBM

Cisco

HP

Others

Cisco revenues boosted by growth in South America and Asia Pacific

34%

35%

17%

14%

H1 2010 H1 2011

31%

47%

11%

11%

32

Logicalis Group Gross margin percentage

H1 2010

H1 2011

16.7

27.1

20.8

30.2

21.6

16.4

25.7 25.5 23.7

33.1

23.0

0

5

10

15

20

25

30

35

UK Germany North America Latin America Asia Pacific Total

Strong margins in North America and Asia Pacific

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Logicalis Group EBITDA ($m)

H1 2010

H1 2011

4.1

0.3

5.3

9.5

-2.7

16.5

4.0

0.1

8.5 9.5

3.8

-4.1

21.8

-10

-5

0

5

10

15

20

25

UK Germany North America Latin America Asia Pacific Central Costs Total

Improvement in North America and strong contribution by Asia Pacific

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Logicalis Group Key financial measures

Strong net cash position

($m) H1 2010 H1 2011

Deferred revenue 28.9 45.0

Inventory 17.3 42.8

Inventory days (excluding spares stock) 10 26

Accounts receivable 150.0 191.7

DSO (days) 49 48

Accounts payable 117.9 159.7

DPO (days) 74 75

Net cash 38.6 63.2

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Logicalis Group Future outlook

• Overall conditions have improved in most markets

• Continued caution exists in some sectors, the UK remains challenging

• Completed small acquisition in Singapore (September 2010)

• Currently pursuing other acquisition opportunities

• Second half financial performance expected to deliver overall sequential and comparative improvement

37

Consulting Services Highlights

• • Better overall performance in H1 but recovery in discretionary spending still constrained

• Improved utilisation drives gross margin from 29% to 34%

• Asia and the Middle East continue to be the real drivers of growth

• BDA India acquisition in March 2010

• Telecom and Service Provider activity is improving

• Impact of recent management changes starting to have a positive effect

38

Consulting Services Financial performance summary

($’000) H1 2010 H1 2011

Sales 31,342 34,702

Gross margin 9,274 11,863

Gross margin % 29.6% 34.2%

Operating costs 9,039 10,831

Operating cost margin % 28.9% 31.2%

EBITDA 235 1,032

EBITDA% 0.7% 3.0%

Operating loss / (profit) (303) 461

Operating profit % (0.9%) 1.3%

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Consulting Services Revenue % by geography

UK

Europe

MENA

Asia

Americas

Increasing geographic diversification

54%

26%

13%

3%

4%

47%

20%

14%

9%

10%

H1 2010 H1 2011

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Consulting Services Future outlook

• Intact’s strong order book and growing pipeline indicates much better financial performance

• Reductions in UK public sector spending affect Analysys Mason in the short to medium term

• Focus on improving international sales in Analysys Mason and reducing UK dependency

• Continued investment in Asia to support further growth

• Dearth of new technologies to ride in broadband wireless networking and quad play services

42

Datatec Group Market outlook

• Return to weaker dollar environment provides good support for technology sales globally

• Better relative growth is still in emerging and developing markets

• US outlook is gradually improving despite recent jitters

• European corporate sector is healthy

• Interest rates expected to remain low

43

Datatec Group Strategy

• Priority of development in BRIC markets remains Brazil, India then China

• Opportunity to create leadership position across Africa with proposed Comztek acquisition

• Continue to improve geographic and business diversification – no single market dependency

• Use our financial leverage to gain market share as confidence in the global recovery builds

• Aim to be at the forefront but not lead with advances in data centre solutions and “Cloud Services”

44

Datatec Group Current trading and prospects

• Anticipate good sequential and comparative growth in H2

• Margins seasonally improve in the second half

• Over one third of gross profit contribution now from outside Europe and North America

• Opportunity to be a consolidator in some markets and sectors

• No change to full year revenue guidance and earnings forecast

Questions