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 Shareholders are advised that the group expects the following increase in earnings for the six months ended 27 March 2016: Six months ended Six months ended 29 March 2015 27 March 2016 Reported Expected Range Earnings per share (EPS) 26.7c 85% - 90% higher 49.4c – 50.7c Headline earnings per 26.7c 85% - 90% higher 49.4c – 50.7c share (HEPS) Diluted HEPS 25.7c 85% - 90% higher 47.5c – 48.8c Normalised earnings, excluding the one-off listing costs of R21.8 million in the 2015 period, are expected to be as follows: Six months ended Six months ended 29 March 2015 27 March 2016 Reported Expected Range Normalised EPS 36.6c 35% - 40% higher 49.4c – 51.2c Normalised HEPS 36.6c 35% - 40% higher 49.4c – 51.2c Normalised diluted HEPS 35.1c 35% - 40% higher 47.4c – 49.1c 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 six months ended 27 March 2016 will be released on the Stock Exchange News Service of the JSE on 23 May 2016. Groot Drakenstein 3 May 2016 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 03/05/2016 07:05:00 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.