HealthPlus Retail Group — Company Overview & Vision

The company’s vision, mission and values, the integrated business model, legal structure and the strategic intent behind HealthPlus Retail Group.

Section 2 · Business Plan

Company Overview & Vision

The company’s vision, mission and values, the integrated business model, legal structure and the strategic intent behind HealthPlus Retail Group.

2.1 Corporate Identity

HealthPlus Retail Group (Pty) Ltd is a private company incorporated
in the Republic of South Africa under the Companies Act 71 of 2008. The
Company has been established as a clean-sheet platform — unencumbered by
legacy infrastructure, contracts, or balance sheet obligations —
allowing it to deploy modern systems, modern logistics, and modern store
formats from inception.

Field	Detail
Legal Name	HealthPlus Retail Group (Pty) Ltd
Trading Name	HealthPlus
Country of Domicile	Republic of South Africa
Industry Code (SIC)	47730 — Dispensing chemists in specialised stores
Tax Status	Registered with SARS — VAT & PAYE
Regulatory Bodies	South African Pharmacy Council (SAPC), SAHPRA, NHRPL
Pharmaceutical Licence	Section 22A retail and Section 22C distribution applications in process
Tax Year	1 March – 28 February
Auditors	Big-Four firm to be appointed (RFP in progress)
Bankers	To be appointed via competitive RFP among Tier-1 SA banks

2.2 Vision, Mission & Values

Our Vision: To make quality healthcare and personal-care
products affordable, accessible, and trusted for every household in
South Africa — and across Southern Africa by 2032.

Mission

HealthPlus exists to lower the cost of healthcare access in South
Africa through scale, efficiency, and innovation. We will achieve this
by:

Operating the most cost-efficient pharmacy and health-and-beauty
retail network in the country, with prices structurally below incumbents
on equivalent baskets.
Manufacturing and sourcing trusted, affordable private-label
alternatives to branded pharmaceutical and personal-care
products.
Embedding primary-care clinics and digital health services in
every store to expand access to consultations, screenings, and
chronic-care management.
Building a digital ecosystem that rewards loyal customers and
unlocks personalised health journeys at scale.

Core Values

Value	What it Means at HealthPlus
Patient First	Clinical safety, ethical dispensing, and accurate health information take precedence over commercial outcomes in every decision.
Affordability	We will price below the market on essential items and pass savings to customers as our scale grows.
Integrity	Compliance with SAPC, SAHPRA, and Competition Commission regulations is non-negotiable. We will exceed, not merely meet, applicable standards.
Inclusion	We will hire, train, and develop South African talent — with a particular focus on township-based employment and women in pharmacy.
Innovation	We will invest continuously in technology, data, and supply chain to compound efficiency advantages year on year.

2.3 Founding Thesis

HealthPlus has been conceived around a simple thesis: South African
healthcare is structurally expensive for the consumer, and the most
efficient delivery channel — the community pharmacy — has been
under-developed in the country’s most populous geographies. The leading
listed pharmacy retailers operate predominantly in mall and high-LSM
(Living Standards Measure) locations, while the majority of South
Africans access pharmaceuticals through a fragmented network of
independent dispensaries that lack scale, technology, and pricing
power.

A challenger that combines (a) deep store penetration into Tier 2/3
and township geographies, (b) a structurally lower cost base via
vertical integration, (c) a credible private-label programme, and (d) a
digital loyalty ecosystem that drives basket size and frequency, can
capture significant share over the next 7 to 10 years. International
benchmarks — including Boots in the UK, CVS in the United States,
Watsons in Asia, and Drogasil in Brazil — demonstrate that this model
produces enduring, double-digit equity returns at scale.

The Brazilian Parallel: Drogasil / Raia
Drogasil

Brazil’s Raia Drogasil consolidated a fragmented pharmacy market
through aggressive store rollout (over 200 stores per year at peak),
private-label expansion, and digital integration — growing from a
regional player into Latin America’s largest pharmacy chain with a
market capitalisation in excess of R150 billion. South Africa offers a
structurally similar opportunity: a fragmented mid-market, a growing
middle class, and the absence of a true low-cost national
champion.

2.4 Strategic Objectives — Five-Year Horizon

The Company’s board has adopted the following measurable objectives
for the first five operational years:

Pillar	Year-3 Target	Year-5 Target
Footprint	210 stores	450+ stores
Revenue	R2.5 billion	R9.2 billion
EBITDA	R297 million (11.8%)	R1.6 billion (17.6%)
Loyalty Members	3.5 million	9.2 million
Private Label %	11% of sales	16% of sales
Geographic Reach	5 provinces	9 provinces + SADC pilot
Direct Employment	4,500	9,500
Distribution Centres	2 active	3 active
Manufacturing Facility	Operational	Capacity 80% utilised

2.5 Long-Term Aspiration (10-Year Outlook)

Beyond the five-year capital plan presented in this Document,
management has identified a credible path to a Pan-African footprint. By
Year 10, HealthPlus aspires to operate 1,000+ stores across South
Africa, Botswana, Namibia, Mozambique, and Zambia, with a Pan-African
revenue base in excess of R20 billion. This long-term vision underpins
the platform investment thesis and supports premium exit valuations.

Critically, the systems, brand architecture, and supply chain
investments contained in this capital plan are sized to support that
long-term vision without requiring structural re-engineering. Investors
are funding not only a 5-year roll-out but a multi-decade platform.

Confidential — this business plan is provided to prospective investors and lenders for evaluation purposes only and may not be reproduced or distributed without the written consent of HealthPlus Retail Group (Pty) Ltd.