Trading Statement QUANTUM FOODS HOLDINGS LIMITED (previously Business Venture Investments No 1792 Proprietary Limited) (Incorporated in the Republic of South Africa) Registration Number: 2013/208598/06 Share Code: QFH ISIN Code: ZAE000193686 (“Quantum Foods” or “the Company”) TRADING STATEMENT In terms of the Listings Requirements of the JSE Limited, a listed company is required to issue a trading statement once it is satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported upon next will differ by at least 20% from the financial results for the previous corresponding period. Shareholders are referred to Annexure 1 of the Quantum Foods pre- listing statement issued on 18 September 2014 (“the Pre-Listing Statement”) for details of the carve-out financial results of Quantum Foods for the year ended 30 September 2013 (“Carve-out Historical Financials”). The Carve-out Historical Financials should be read together with the pro-forma financial information of Quantum Foods set out in Annexure 5 of the Pre-listing Statement (“the Pro Forma Financials”). The Pro Forma Financials are based on the Carve-out Historical Financials and have been adjusted for the following items: • the intergroup loan account of R1.3 billion payable to Pioneer Food Group Limited (“Pioneer Foods”) was capitalised in net invested equity on 1 October 2012 for purposes of the statement of comprehensive income and on 30 September 2013 for purposes of the statement of financial position; • interest income earned on intergroup loans to subsidiaries of R8.5 million and finance costs incurred on the intergroup loan payable to Pioneer Foods of R94.7 million were reversed; and • the headline earnings per share and earnings per share were based on the actual number of shares in issue of Quantum Foods at 30 September 2014, being 233 284 332 shares. Quantum Foods management are of the view that the Pro Forma Financials should be the most appropriate basis for comparison with the financial results for the year ended 30 September 2014. Accordingly, shareholders are advised that in respect of the year ended 30 September 2014 the Company is expecting to announce headline earnings per share of between 10.4 cents and 12.0 cents, being an increase of between 230% and 250% compared to the headline loss of 8 cents per share in the Pro Forma Financials and being an increase of between 131% and 135% compared to the headline loss of 34 cents per share in the Carve-out Historical Financials. Shareholders are further advised that in respect of the year ended 30 September 2014 the Company is expecting to announce basic loss per share of between 1 cents and 6 cents, being an increase of between 94% and 99% compared to the basic loss of 96 cents per share in the Pro Forma Financials and being an increase of between 95% and 99% compared to the basic loss of 123 cents per share in the Carve- out Historical Financials. The financial information on which this trading statement is based has not been reviewed or reported on by the Company’s auditors. Quantum Foods’ financial results for the year ended 30 September 2014 are expected to be released on SENS on or about Monday, 24 November 2014. Wellington 6 November 2014 Sponsor PSG Capital Date: 06/11/2014 02:30:00 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.