Trading statement Rhodes Food Group Holdings Limited (Incorporated in the Republic of South Africa) Registration number 2012/074392/06 JSE share code: RFG ISIN: ZAE000191979 ("the group") TRADING STATEMENT In terms of the Listings Requirements of the JSE Limited ("JSE"), companies are required to publish a trading statement as soon as they are satisfied, with a reasonable degree of certainty, that the financial results for the period to be reported on next will differ by at least 20% from the financial results for the previous corresponding reporting period. Shareholders are advised that the group expects the following increase in earnings for the year ended 27 September 2015: Year ended Year ended 28 September 2014 27 September 2015 Reported Expected Range Earnings per share (EPS) 37.2c 105% - 110% higher 76.3c – 78.1c Headline earnings per share 36.9c 108% - 113% higher 76.8c – 78.6c (HEPS) Diluted HEPS 35.5c 108% - 113% higher 73.8c – 75.6c The earnings guidance is calculated assuming that the 221 million shares in issue post the listing of the group on the JSE on 2 October 2014 applied in both the 2014 and 2015 periods. Normalised earnings, excluding the one-off listing costs of R21.8 million in the 2015 period, are expected to be as follows: Year ended Year ended 28 September 27 September 2015 2014 Expected Range Reported Normalised EPS 37.2c 132% - 137% higher 86.3c – 88.2c Normalised HEPS 36.9c 135% - 140% higher 86.7c – 88.6c Normalised diluted HEPS 35.5c 133% - 138% higher 82.7c – 84.5c The information in this trading statement has not been reviewed and reported on by the group’s independent external auditors. The group’s financial results for the year ended 27 September 2015 will be released on the Stock Exchange News Service of the JSE on 23 November 2015. Groot Drakenstein 13 November 2015 Sponsor Rand Merchant Bank (a division of FirstRand Bank Limited) Date: 13/11/2015 12:10:00 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.