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CHIEF EXECUTIVE OFFICER’S LETTER TO STAKEHOLDERS

Dear stakeholder

BUSINESS SUSTAINABILITY

Sustainability is embedded as a core value in the Italtile business. In my letter to stakeholders in the 2023 IAR, I noted that the Group had developed a new ESG sustainability strategy, underpinned by a range of KPIs that would improve alignment and focus across the business to achieve our ESG ambitions.

ADDRESSING STAKEHOLDERS’ INTERESTS AND CONCERNS

Our management team has a well-established open-door policy in terms of being accessible to our key stakeholders and we strive to communicate with them regularly, transparently and with integrity. In Our stakeholders report, we identify our stakeholders and outline our engagements with them. We recognise that all of these groups are influenced and impacted by our strategies, policies and practices.

ITALTILE AT A GLANCE

Founded in 1969, Italtile Limited is a proudly South African manufacturer, franchisor and retailer of tiles, bathroomware and other related home-finishing products. The Group's retail brands are CTM, Italtile and TopT represented by 208 stores in South Africa and the rest of Africa.
The retail operation is strategically supported by a vertically integrated supply chain.
We have installed capacity to manufacture 52 million m2 of tiles and 2 million pieces of sanitaryware annually.
Our total system-wide turnover for the period was R11,5 billion, and our market capitalisation is in excess of R14 billion.

WHAT SETS US APART

Strategic portfolio of strong retail brands that appeal to customers across the income spectrum.
Flat, low-cost organisational structure comprising strong teams and unique individuals intimately involved in the operations.
Strong partnerships with employees, equity partners and entrepreneurial franchisees.
Sustained investment in improving and innovating the shopping experience and ensuring the offering remains attractive to traditional customers and new, emerging homeowners.
Long-standing reputation as the industry trendsetter and fashion authority.

STRATEGIC FOCUS AREAS

STRATEGY AND KEY IMPERATIVES

Strategic clarity is key to the Group’s goal to deliver sustainable value for all stakeholders.

The Group's five-year strategy is developed and implemented through an effective decision making framework and is reviewed annually in terms of its relevance to evolving external and internal conditions. The Board is responsible for setting clear strategic direction, while management is held accountable for delivering measurable results.