SOVEREIGN FOOD INVESTMENTS LIMITED - Trading statement

Trading statement

SOVEREIGN FOOD INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
Registration Number 1995/003990/06
JSE Code: SOV           ISIN Number: ZAE000009221
(“Sovereign” or “the Company”)

TRADING STATEMENT

In terms of the JSE Limited Listings Requirements, companies are required to publish a trading statement
as soon as they are satisfied with a reasonable degree of certainty that the financial results of the period
to be reported upon will differ by 20% or more from the financial results of the previous corresponding
period.

Sovereign shareholders are advised that the Company’s earnings per share (“EPS”) for the year ended
28 February 2014 is expected to be between 56.3 cents and 62.9 cents. EPS for the year ended 28
February 2013 was 66.2 cents.

The Company’s headline earnings per share (“HEPS”) for the year ended 28 February 2014 is expected
to be between 55.9 cents and 63.3 cents. HEPS for the year ended 28 February 2013 was 74.5 cents.

The Company’s net asset value per share (“NAV”) for the year ended 28 February 2014 is expected to be
between 845 cents and 856 cents. NAV for the year ended 28 February 2013 was 808 cents.

As a result of, inter alia, the Company’s assessed income tax loss and various income tax capital
allowance credits, Sovereign’s operational cash flow generated for the year ended 28 February 2014 (i.e.
profit after tax, but adding back non-cash items, such as depreciation, and excluding working capital
movements, capital expenditure and servicing of debt) is expected to exceed R1.20 per share.

The Company’s auditors have not reported on the financial information on which this trading statement is
based. Shareholders are advised that the Company’s results for the year ended 28 February 2014 will be
published on or about 16 May 2014.


Port Elizabeth
27 March 2014

Sponsor
One Capital

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