Trading update and cautionary announcement AFGRI Limited (Incorporated in the Republic of South Africa) Registration Number: 1995/004030/06 ISIN: ZAE000040549 JSE share code: AFR ("AFGRI" or "the Company") Trading update and cautionary announcement Trading update Further to the trading update released on 24 April 2013 (“previous announcement”), AFGRI shareholders (“Shareholders”) are advised that headline earnings per share (“HEPS”) from all operations is expected to be between 25 – 34% lower for the year ending 30 June 2013 compared to that of the previous year. Earnings per share (“EPS”) is expected to decrease between 39 – 48% compared to that of the previous year, which EPS includes the impairment as discussed below. Since the previous announcement regarding this issue, plans by the South African Government to address the proposed additional import tariffs and anti-dumping initiatives to combat the record levels of imports have not yet materialised. Consequently, the South African poultry industry remains in distress and, therefore, the AFGRI board of directors (“Board”) has re- assessed the valuation of AFGRI’s poultry business resulting in the impairment of the goodwill and intangibles in the business of R117 million. This trading statement has not been reviewed or reported on by AFGRI`s external auditors. The release of the final announcement of results for the year ending 30 June 2013 is expected to be published on SENS on or about 4 September 2013. Cautionary announcement Independent of the above trading update, Shareholders are advised that AFGRI has entered into discussions, which, if successfully concluded, may have a material effect on the price at which AFGRI’s securities trade on the JSE Limited. Accordingly, shareholders of the Company are advised to exercise caution when dealing in AFGRI’s securities until a further announcement is made. Centurion 8 August 2013 Sponsor: Investec Bank Limited Date: 08/08/2013 05:45:00 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.