Exercise Of Share Options, Phantom Share Rights And Dealing In The Company’s Shares By Directors Pioneer Food Group Limited (Incorporated in the Republic of South Africa) (Registration number: 1996/017676/06) (Share code: PFG) (ISIN code: ZAE000118279) (“Pioneer Foods” or “the Company”) EXERCISE OF SHARE OPTIONS, PHANTOM SHARE RIGHTS AND DEALING IN THE COMPANY’S SHARES BY DIRECTORS In compliance with rules 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information is disclosed: 1. NAME OF DIRECTOR PM Roux COMPANY OF WHICH I AM A DIRECTOR Pioneer Food Group Limited STATUS:EXECUTIVE/NON-EXECUTIVE Executive TYPE OF SECURITIES Shares CLASS OF SECURITIES Ordinary DATE OF TRANSACTION 20 May 2014 CENTS PER SHARE 9 700 NUMBER OF SECURITIES TRANSACTED 15 881 TOTAL RAND VALUE OF SECURITIES R1 540 457.00 NATURE OF TRANSACTION Taken delivery of ordinary shares through the exercise of 49 901 Phantom Share Rights granted and accepted in 2013 at strike price of R66.13 (off- market) NATURE AND EXTENT OF INTEREST IN Direct beneficial THE TRANSACTION CLEARANCE OBTAINED Yes 2. NAME OF DIRECTOR LR Cronje COMPANY OF WHICH I AM A DIRECTOR Pioneer Food Group Limited STATUS:EXECUTIVE/NON-EXECUTIVE Executive TYPE OF SECURITIES Shares CLASS OF SECURITIES Ordinary DATE OF TRANSACTION 21 May 2014 CENTS PER SHARE 3 142 NUMBER OF SECURITIES TRANSACTED 21 006 TOTAL RAND VALUE OF SECURITIES R660 008.52 NATURE OF TRANSACTION Exercise of options granted and accepted in 2007 (off-market) NATURE AND EXTENT OF INTEREST IN Direct beneficial THE TRANSACTION CLEARANCE OBTAINED Yes 3. NAME OF DIRECTOR LR Cronje COMPANY OF WHICH I AM A DIRECTOR Pioneer Food Group Limited STATUS:EXECUTIVE/NON-EXECUTIVE Executive TYPE OF SECURITIES Shares CLASS OF SECURITIES Ordinary DATE OF TRANSACTION 21 May 2014 CENTS PER SHARE 9 800 NUMBER OF SECURITIES TRANSACTED 21 006 TOTAL RAND VALUE OF SECURITIES R2 058 588.00 NATURE OF TRANSACTION Disposal (on-market) NATURE AND EXTENT OF INTEREST IN Direct beneficial THE TRANSACTION CLEARANCE OBTAINED Yes Clearance to deal in these shares was obtained in accordance with rule 3.66 of the JSE Listings Requirements. Paarl 22 May 2014 Sponsor PSG Capital Date: 22/05/2014 05:00:00 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.