KAL GROUP LIMITED - Acceptance Of Awards Under KALs Long-Term Incentive Plan

Acceptance Of Awards Under KAL’s Long-Term Incentive Plan

KAL GROUP LIMITED
(Previously Kaap Agri Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 2011/113185/06)
Share code: KAL
ISIN: ZAE000244711
(“KAL” or “the Company”)

ACCEPTANCE OF AWARDS UNDER KAL’S LONG-TERM INCENTIVE PLAN

In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the
following information regarding the deemed acceptance of awards granted under the KAL
long-term incentive plan (“LTIP”) is disclosed:

 NAMES OF DIRECTORS                              S Walsh                     (1)
                                                 GW Sim                      (2)
                                                 DC Gempies                  (3)
                                                 HJ Smit                     (4)
                                                 T Sulaiman-Bray             (5)
                                                 A Abeln                     (6)
                                                 LJ Abrams                   (7)

 COMPANIES OF WHICH DIRECTORS                    KAL                         (1) – (2)
                                                 Kaap Agri Bedryf Limited    (1) – (6)
                                                 (a major subsidiary
                                                 of KAL) (“Bedryf”)
                                                 TFC Operations Proprietary  (1)(2)(5)(7)
                                                 Limited (a major subsidiary
                                                 of KAL) (“TFC”)


 STATUS: EXECUTIVE/NON-EXECUTIVE                 Executive directors of KAL     (1) - (2)
                                                 Executive directors of Bedryf  (1) – (6)
                                                 Executive director of TFC      (7)
                                                 Non-executive directors of TFC (1)(2)(5)

 TYPE AND CLASS OF SECURITIES                    Options awarded under the      (1) - (7)
                                                 LTIP to acquire ordinary
                                                 shares

 NATURE OF TRANSACTION                           Acceptance of award of         (1) – (7)
                                                 options to acquire
                                                 ordinary shares in terms
                                                 of the LTIP
                                                 (off-market transaction)

 DATE OF AWARD OF OPTIONS                        24 May 2023                    (1) – (7)

 DATE OF ACCEPTANCE OF OPTIONS                   24 May 2023                    (1) – (7)

 PRICE AT WHICH OPTIONS AWARDED                  Nil cost                       (1) – (7)

 NUMBER OF OPTIONS ACCEPTED                      272 366                        (1)
                                                 142 422                        (2)
                                                 88 991                         (3)
                                                 92 093                         (4)
                                                 77 559                         (5)
                                                 113 813                        (6)
                                                 106 091                        (7)

 DEEMED TOTAL RAND VALUE OF                      R9 674 440.32                  (1)
 OPTIONS ACCEPTED, BASED ON THE                  R5 058 829.44                  (2)
 COMPANY’S CLOSING SHARE PRICE ON                R3 160 960.32                  (3)
 23 MAY 2023 
                                                 R3 271 143.36                  (4)
                                                 R2 754 895.68                  (5)
                                                 R4 042 637.76                  (6)
                                                 R3 768 352.32                  (7)

 VESTING DATES OF OPTIONS                      Vesting in tranches of           (1) – (7)
                                               25% each on the later of:

                                               •     the 2nd, 3rd, 4th and 5th anniversary of
                                                     the date of award; and
                                               •     to the extent applicable, the date on
                                                     which the remuneration committee
                                                     determines that the performance
                                                     condition(s) has been met; and
                                               •     to the extent applicable, any other
                                                     conditions imposed have been satisfied

 SETTLEMENT PERIOD                             Settlement in respect of         (1) – (7)
                                               the options to occur within
                                               30 days of the applicable
                                               vesting date

 NATURE AND EXTENT OF INTEREST IN              Direct, beneficial               (1) – (7)
 THE TRANSACTION

Clearance for the above was obtained in terms of paragraph 3.66 of the JSE Limited Listings
Requirements.

Paarl
24 May 2023

Sponsor
PSG Capital

Date: 24-05-2023 11:30:00
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